QUESTION 2 Customer benefits include time and effort. True False QUESTION 3 Customers are interested in a product's price because they are concemed about the value obtained in an exchange. True False QUESTION 4 Marketing consists primarily of selling and advertising. True False QUESTION 5 In marketing, a product can be a good or a service but not an idea. True False QUESTION 6 A target market a. is a customer group classified as people vith similar demographic characteristics. b. is the same as a salesperson's prospective client list. c. is a specific group of customers on whom an organization focuses its marketing efforts. d. already has several competitors vying for customers' business. e. involves a large number of customers. QUESTION 7 Before marketers can develop an appropriate marketing mix, they must a. practice the marketing concept. b. build relationships with stakeholders. c. collect in-depth, up-to-date information about customer needs. d. determine the customer lifetime value. e. adopt a sales orientation. Achievement of the firm's overall goals is part of the marketing concept. True False QUESTION 9 According to the marketing concept, an organization should try to a. consider short-run objectives and cash flow needs before developing new products. b. provide products that satisfy customers' needs and allow the organization to achieve its goals. c. view selling activities as the major means of increasing profits. d. put most of its emphasis on marketing activities and be less concemed with finance, accounting, and personnel. e. define its business as "making a product." QUESTION 10 A market orientation is an organization-wide effort that includes all of the following activities except a. researching customers' needs. b. generating marketing intelligence for use in the organization. c. being responsive to customers' ever-changing wants and needs. d. disseminating marketing intelligence across departments within the organization. e. focusing just on the marketing department