ABC'S Relationship Selling through Service 12th Edition by Charles Futrell - Test Bank

Chapter 01 The Life, Times, and Career of the Professional Salesperson 

True / False Questions

1. The marketing concept is a business philosophy that says the customers' want- satisfaction is the economic and social justification for a firm's existence. 
Answer: True

Learning Objective: 01-01

Topic: What is the Purpose of Business?

Blooms: Remember

AACSB:

Level of Difficulty: Easy

Explanation: According to the marketing concept, a customers’ wants and satisfaction justify the economic and social existence of a firm. Consequently, all company activities should be devoted to determining customers’ wants and then satisfying them, while still making a profit.

2. Selling and marketing are not synonymous. 
Answer: True

Learning Objective: 01-01

Topic: What is Selling?

Blooms: Remember

AACSB:

Level of Difficulty: Easy

Explanation: Selling is a marketing component that refers to the personal communication of information to persuade a prospective customer to buy something. Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

3. The marketing mix consists of three components: price, product, and promotion.
Answer: False

Learning Objective: 01-01

Topic: Essentials of a Firm’s Marketing Effort

Blooms: Remember

AACSB:

Level of Difficulty: Easy

Explanation: A firm’s marketing mix consists of four main elements—product, price, distribution or place, and promotion—a marketing manager uses to market goods and services.

4. Personal selling is personal communication of information to unselfishly persuade a prospective customer to buy an idea that satisfies his or her needs. 
Answer: True

Learning Objective: 01-01

Topic: A New Definition of Personal Selling

Blooms: Remember

AACSB: Communication

Level of Difficulty: Easy