MKTG Practice Quiz for test 1

Which of the following statements about marketing is FALSE?
The cost of marketing is about 15 % of the consumer’s dollar
Marketing can be viewed as:
a set of actvities performed by individual organizations, relevant to both business and nonprofit organizations, a social process
tries to accomplish a company’s objectives by anticipating customer’s needs and trying to satisfy them
Marketing could not take place without:
Two or more parties who are willing to exchange something for something else
Viewing marketing as a social process focuses on
The fact that producers usually prefer to produce products in large quantities, while most consumers prefer to buy in small quantities, results in:
Discrepancies of quantity
“Economies of scale” means that:
As a company produces larger numbers of a particular product, the cost of each of these products goes down
Which of the following is true?
Responsibility for performing marketing functions can be shifted and shared, but no function can be completely eliminated
An intermediary:
Is someone who specializes in trade rather than production
A firm with a marketing orientation:
Tries to determine customers’ needs before developing its product
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