Marketing: Chapter 4 Test Review

Marketing is responsible for identifying and planning for opportunities.

• True

• False

The marketing concept keeps the main focus on customers' needs during planning, production, distribution, and promotion of a product or service.

• True

• False

Businesses that use the marketing concept first develop a product or service and then decide how it will be marketed.

• True

• False

Businesses that DO NOT use the marketing concept assume that most people are potential customers for their products and can be persuaded to buy with adequate marketing.

• True

• False

Bringing a new product to the marketplace is expensive.

• True

• False

Much of the planning efforts of a company are used to determine what to sell and how it will be presented to the customer.

• True

• False

Most products and services are exchanged directly between the producer and the customer.

• True

• False

The most important type of marketing research for most businesses is the study of potential and current customers.

• True

• False

Monopolies are often more concerned about protecting their market and making a profit than about meeting the needs of consumers.

• True

• False

Service businesses usually have less control over pricing than businesses that sell products.

• True

• False