Question 1

The term marketing refers

Accepted Answer

a philosophy that stresses customer satisfaction

Question 2

A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its pricing policy, and the distribution strategy. These activities are all a part of:

Accepted Answer

marketing

Question 3

_____ is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction.

Accepted Answer

Marketing

Question 4

The American Marketing Association\'s definition of marketing:

Accepted Answer

includes the processes marketers use to establish and maintain relationships with customers

Question 5

_____ is a key ingredient in the philosophy of marketing; it occurs when people give up something in order to receive something that they would rather have.

Accepted Answer

Exchange

Question 6

In order for exchange to occur:

Accepted Answer

each party must have something the other party considers to be valuable

Question 7

For an exchange to take place:

Accepted Answer

there must be at least two parties involved

Question 8

Indonesian logging companies harvest the rainforests for timber and assume that a market exists for their products. The typical Indonesian logging company has a(n) _____ orientation.

Accepted Answer

production

Question 9

The concept of exchange is important to marketing because:

Accepted Answer

marketing activities help to create exchange

Question 10

Which of the following is NOT a marketing management philosophy?

Accepted Answer

profitability orientation

Question 11

Firms with a _____ orientation focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace.

Accepted Answer

production

Question 12

A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation.

Accepted Answer

production

Question 13

A firm with a production orientation is most likely to survive if:

Accepted Answer

demand for the product it produces exceeds supply

Question 14

A firm that adopts a(n) _____ orientation to marketing will fail to consider whether what the firm produces most efficiently also meets the needs of the marketplace.

Accepted Answer

production

Question 15

The _____ orientation assumes people will buy more if aggressive selling techniques are used.

Accepted Answer

sales

Question 16

A _____ orientation assumes marketing means selling things and collecting money. It also assumes people will buy more goods and services if aggressive marketing techniques are used.

Accepted Answer

sales

Question 17

If a company uses a sales orientation, consumer complaints would most likely result in:

Accepted Answer

a modification of the sales presentation

Question 18

Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that:

Accepted Answer

what the customer thinks he or she is buying is what is important

Question 19

A company that has a market orientation and adheres to the marketing concept does NOT:

Accepted Answer

fuel sales growth through the application of aggressive sales techniques

Question 20

The statement, \"Marketing should be introduced at the beginning rather than the end of the production cycle and integrated into each phase of the business,\" is consistent with a(n) _____ orientation.

Accepted Answer

market

Question 21

The marketing concept involves:

Accepted Answer

focusing on customers\' wants so that the organization can distinguish its product (or products) from the competitors\' products

Question 22

The marketing concept includes a goal orientation to remind managers that:

Accepted Answer

achieving long-term organizational goals is as important as satisfying customers

Question 23

The marketing concept stresses that the social and economic justification for an organization\'s existence is the satisfaction of customer needs and wants while:

Accepted Answer

simultaneously meeting organization objectives

Question 24

An organization with a(n) _____ believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals\' and society\'s long-term best interests.

Accepted Answer

societal orientation

Question 25

Which of the following statements about the societal orientation is true?

Accepted Answer

a. Companies that protect the environment by using all-natural materials in their products are showing a societal marketing orientation. b. Marketers cannot deliver all benefits sought by customers because these benefits may not be in the long-term best interests of the customers. c. The societal marketing concept is an important refinement of the market concept. d. Organizations have both a social and economic justification for their existence. e. All of these statements about the societal orientation are true.

Question 26

Organizations that sell products that are often unsought (such as life insurance and retirement plans) may find themselves adopting a _____ orientation because the companies are marketing products that most people do not want.

Accepted Answer

sales

Question 27

_____ gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management.

Accepted Answer

Empowerment

Question 28

Market-oriented firms primarily focus their efforts upon:

Accepted Answer

satisfying the wants and needs of their customers

Question 29

Which of the following statements about a typical sales-oriented business is true?

Accepted Answer

The company invests the majority of its resources in promoting its products and services

Question 30

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.

Accepted Answer

Customer value

Question 31

Marketers interested in offering customer value can:

Accepted Answer

a. offer products that perform b. give the consumer facts c. offer organization-wide commitment to service and after-the-sale support d. avoid unrealistic pricing e. do all of these

Question 32

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created.

Accepted Answer

customer satisfaction

Question 33

_____ is a strategy that entails forging long-term partnerships with customers.

Accepted Answer

Relationship marketing

Question 34

Which of the following measures would be the best indicator of whether your organization\'s personnel have a customer orientation?

Accepted Answer

Survey customers on how oriented the organization\'s personnel are to customer needs and desires.

Question 35

Some market-oriented firms give employees expanded authority to solve customer problems on the spot. This is known as:

Accepted Answer

empowerment

Question 36

_____ is the collaborative efforts of people to achieve common objectives.

Accepted Answer

Teamwork

Question 37

Dofasco, Inc. is a Canadian steel manufacturer. According to its CEO, \"People can make a phenomenal difference if you stop telling them to come to work, put their brains in a box, and do whatever the supervisor says. We let our employees work in teams.\" This quote implies that by using teamwork, Dofasco:

Accepted Answer

provides its customer with a high level of satisfaction

Question 38

Dofasco, Inc. is a Canadian steel manufacturer. According to its CEO, \"People can make a phenomenal difference if you stop telling them to come to work, put their brains in a box, and do whatever the supervisor says. We let our employees work in teams.\" Teamwork would benefit Dofasco by:

Accepted Answer

enhancing employee performance

Question 39

Redefining the business mission of a mattress manufacturer as \"a good night\'s sleep,\" rather than stating the mission as \"the manufacture of high-quality mattresses,\" will:

Accepted Answer

help ensure the firm retains its focus on consumers and does not become preoccupied with its products and internal needs

Question 40

One of the reasons given for the decline of the passenger rail industry in the United States is that the industry defined its mission as trains and not as transportation sources. The railroad industry failed to:

Accepted Answer

define its mission in terms of the benefits its customers seek

Question 41

When light bulbs were first introduced, manufacturers offered one size for all light fixtures. Today you can buy light bulbs in different shapes, different wattages, and different colors. They also differ as to how much electricity they use and how many hours of illumination they will provide before failing. Light bulb manufacturers:

Accepted Answer

recognize different customer groups have different needs and wants

Question 42

One way to identify the orientation of a firm is to examine its primary goal. If a firm seeks to achieve profitability through sales volume, it would probably be:

Accepted Answer

sales-oriented

Question 43

_____ is the primary tool used by a sales-oriented organization to achieve its corporate goals.

Accepted Answer

Promotion

Question 44

For a market-oriented organization, the primary tool used to achieve its goals is:

Accepted Answer

a. a blend of product, place, promotion, and pricing decisions

Question 45

What is the fundamental objective of most businesses?

Accepted Answer

survival, profits, and growth

Question 46

Which if the following is NOT a good reason to study marketing?

Accepted Answer

Marketing teaches businesses how to sell products that people do not need.

Question 47

Which of the following statements contains one good reason for studying marketing?

Accepted Answer

Marketing offers outstanding career opportunities

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