Exam (elaborations)

Test Bank for MKTG, 6th Canadian Edition Lamb (All Chapters included)

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Course
MKTB

Institution
Acadia University ( )

Complete Test Bank for MKTG, 6th Canadian Edition by Charles W. Lamb, Joe F. Hair, Carl McDaniel, Marc Boivin, David Gaudet, Janice Shearer ; ISBN13: 9781778410390.....(Full Chapters included Chapter 1 to 16)...1 An Introduction to Marketing 2 The External Marketing Environment 3 Strategic Market...

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TEST BANK

MKTG, 6th Canadian Edition
by Charles W. Lamb

Complete Chapters Test Bank
are included (Ch 1 to 16)

** Immediate Download
** Swift Response
** All Chapters included

,Name: Class: Date:

Chapter 01 MKTG6

Indicate whether the statement is true or false.
1. The Era of Origins, during the 18th century, lacked any real application of marketing techniques like
segmentation.
a. True
b. False

2. Firms trying to give customers what they want in the Era of Refinement and Formalization must also deal with
aspects of consumerism.
a. True
b. False

3. Marketing is a job that should be handled by marketers. People in management, accounting, and finance should
focus on their own specialties.
a. True
b. False

4. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large.
a. True
b. False

5. A company using marketing research in post-World War II Canada to help give customers want they want
shows the Era of Institutional Development in full form.
a. True
b. False

6. Only a firm’s salespeople need to be customer-oriented.
a. True
b. False

7. Marketing can be defined as selling products.
a. True
b. False

8. An exchange cannot take place unless each party in the exchange has something that the other party values.
a. True
b. False

9. Creating market segments requires little effort or thought.
a. True
b. False

Page 1

,Name: Class: Date:

Chapter 01 MKTG6

10. The Era of Institutional Development, exemplified by the emergence of mail order companies, commenced in
the late 19th century and persisted until just before the Great Depression of the 1930s.
a. True
b. False

11. Building customer trust against the negativity of consumerism was an important activity in the Era of
Refinement and Formalization.
a. True
b. False

12. The societal marketing concept considers society’s long-term best interests, along with the satisfaction of
customers’ wants and needs, and it is the hallmark of Era 5.
a. True
b. False

13. The 4 Ps of marketing include product, price, promotion, and place.
a. True
b. False

14. Era 5 is the first time there is a true focus on society at large and the impacts of consumerism beyond the
exchange between buyer and seller.
a. True
b. False

15. Retailers opening department stores in the Era of Institutional Development did so because this was the phase
where “Marketing Begins.”
a. True
b. False

16. In the early 1920s, Ford promised its customers that they could have any colour car they wanted, “as long as it
was black.” Ford’s management assumed anyone buying a car would accept the colour black, so it made
products affordable by offering only one variety in large quantities. Ford is an example of a firm stuck in the Era
of Origins.
a. True
b. False

17. Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to the introduction,
the company had not conducted market research among its customers, but it was confident that its technology
department had produced a successful new product. Based on this example, Sara Lee has not yet moved
through the Era of Refinement and Formalization.
a. True
b. False

Page 2

, Name: Class: Date:

Chapter 01 MKTG6

18. The marketing concept focuses on linking the needs of customers with the competencies of an organization
seeking to meet those needs.
a. True
b. False

19. During the Era of Origins, the focus shifted away from the nobility and luxury goods towards widespread
satisfaction of needs, aided by the Industrial Revolution, mass production, and urbanization.
a. True
b. False

20. 3D Systems is a company that uses computers to generate new products. It has generated loyal business clients
by providing the best customer support. The company also has salespeople who have both product and
customer knowledge. This partnership between 3D Systems and its customers would be considered relationship
marketing and would be a perfect example of Era 5 in the history of marketing.
a. True
b. False

Indicate the answer choice that best completes the statement or answers the question.
21. What is a market segment?
a. a target market
b. a group of individuals who have similar needs
c. a group who want to make an exchange
d. a group that buys because of market research

22. Surj went to Second Cup and ordered a vanilla latte on a Monday. He enjoyed it so much that he returned every
day that week and ordered the same drink from the same barista. By the end of the week the barista asked him
if he would like his “usual.” What this an example of?
a. commitment selling b. relationship marketing
c. transactional marketing d. market engineering

23. A company replaces any dissatisfied customer’s purchase at its own expense. Which strategy is the company
using?
a. management empowerment b. management–customer synergy
c. customer satisfaction d. transactional marketing

24. For years, Richard Branson, founder of the Virgin Group, has believed in customer service. He believes that
good customer service stems from an environment founded on “a chain, one that is consistent from beginning to
end.” Which idea has Virgin Group captured in this short phrase?
a. the societal concept b. Maslow’s hierarchy of needs
c. the marketing concept d. the sales-orientation philosophy

Page 3

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