MKTG Ch1 – Flashcard

question

Which of the following strategies is most closely associated with a societal marketing orientation?
answer

Using clean energy sources
question

Consumer’s expectations of doing new things with varied kinds of information in ways that create value have resulted in the emergence of _____.
answer

on-demand marketing
question

Researchers at PPG Industries Inc. spent considerable time, effort, and money developing a bluish windshield that would let in filtered sunlight but block out heat. PPG had not conducted market research before deciding to design the windshield. Moreover, the windshield is priced higher compared to the other brands. The company has now introduced the windshield in the market and is hoping that the customers will like it. PPG most likely has a(n)_____orientation.
answer

production
question

Filmin Inc. has decided to increase the production of its printers. Filmin does not conduct market research before making its marketing decisions. To ensure profits for the company, Filmin has instructed its marketing force to aggressively advertise and promote its printers. The CEO of Filmin believes that the market will absorb more products if powerful promotion strategies are used. After increasing production of printers, the company plans to reduce the prices of the printers to encourage customers to buy them. Filmin appears to have a _____ orientation.
answer

sales
question

Relationship-management strategies depend on:
answer

employee empowerment.
question

Which of the following strategies illustrates a market orientation?
answer

Creating customer value
question

A company that sets its goals and strategies based on what its current equipment can manufacture, what its engineering can design, and what the company itself can do best has a(n)_____orientation.
answer

production
question

Which of the following is a drawback of the production-orientation philosophy?
answer

It overlooks the importance of market research.
question

Libra Electronic Inc. has launched a new range of light-weight vacuum cleaners with enhanced features. Before developing the product, Libra Electronic conducted a thorough study about customer requirements. The company also studied the quality of its competitors’ vacuum cleaners. Based on insights about customer wants and competitor strengths and weaknesses, Libra Electronic has designed vacuum cleaners that can be clearly distinguished from other brands. Libra Electronic most likely has a _____ orientation.
answer

market
question

A market-oriented firm:
answer

defines its mission in terms of the benefits its customers seek.
question

Which of the following is a difference between a market-oriented firm and a sales-oriented firm?
answer

Unlike a market-oriented firm, a sales-oriented firm targets its products at the average customer.
question

Which of these statements is true about customer relationship management?
answer

It involves linking all processes of the company from its customers through its suppliers.
question

A sales-oriented firm:
answer

extensively uses personal selling and advertising.
question

Which of the following questions which companies consider is best aligned with the production orientation philosophy?
answer

What can our engineers design?
question

Which of the following opinions is a critic of the sales-orientation philosophy most likely to hold?
answer

Business firms need to have a good understanding of the needs of the marketplace.
question

Which of the following statements is true about on-demand marketing?
answer

It is aimed at enhancing customer relationships.
question

A sales-oriented firm places minimal emphasis on:
answer

building long-term customer relationships.
question

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

customer wants can be satisfied by integrating activities of the firm.
question

A firm that extensively uses relationship-marketing strategies is most likely to:
answer

encourage teamwork among employees.
question

Which of the following statements is true of customer relationship management?
answer

It involves establishing and tracking customer interactions with the company.

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