Question 1

According to sales-oriented firms,marketing means ______.

Accepted Answer

A)   employing practices that deliver value and benefits to customers
B)   building long-term,mutually rewarding relationships with customers
C)   selling goods and services and reaping profits from them
D)   enhancing individuals' and society's long-term best interestsE) B) and C)
F) A) and D)

Question 2

Thrift stores seek to achieve profitability through high sales volumes.

Accepted Answer

A) True 
 B)False

Question 3

The research and development team of BB Beverages has discovered that,during the testing process,one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time.Additionally,the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant.Based on these findings,management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment.Given this decision,it is evident that BB Beverages embraces a ______ orientation.

Accepted Answer

A)   production
B)   sales
C)   market
D)   societal marketingE) C) and D)
F) A) and D)

Question 4

When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace,then the firm is said to have adopted the ______ orientation.

Accepted Answer

A)   production
B)   sales
C)   market
D)   societalE) A) and D)
F) A) and C)

Question 5

Which of the following is a similarity between a production orientation and a sales orientation?

Accepted Answer

A)   Both ignore the importance of assessing a firm's internal capabilities.
B)   Both lack an understanding of the needs and wants of the marketplace.
C)   Both place little emphasis on the assessment of manufacturing plants and facilities.
D)   Both fail in a market where demand exceeds supply.E) None of the above
F) B) and D)

Question 6

The management at ABC Computers believes that high sales will result in high profit.Together with the company sales force,management devises a sales strategy to promote their new line of convertible laptops based on the assumption that consumers will purchase a product if the company promotes it aggressively.This sales hypothesis can be attributed to the company's ______ orientation.

Accepted Answer

A)   production
B)   sales
C)   market
D)   societalE) B) and C)
F) All of the above

Question 7

The management of PQR Electronics believes that success can be achieved with a thorough understanding of its competitive arena and by developing products that satisfy the needs,wants,and expectations of customers.Therefore,PQR Electronics can be said to have a ______ orientation.

Accepted Answer

A)   production
B)   sales
C)   market
D)   societalE) A) and D)
F) B) and C)

Question 8

Which activity/activities are involved in the process of marketing?

Accepted Answer

A)   Marketing focuses on practices that deliver value and benefits to customers.
B)   Marketing employs the combined use of communication,distribution and pricing strategies.
C)   Marketing involves building long-term,mutually rewarding relationships with customers.
D)   Marketing focuses solely on selling goods,services,and/or ideas to customers.E) B) and C)
F) A) and D)

Question 9

A customer's assessment of whether a organization's goods or services have met his or her needs and expectations is defined as ______.

Accepted Answer

A)   customer satisfaction
B)   customer value
C)   customer relationship
D)   customer managementE) A) and B)
F) A) and C)

Question 10

A firm that has adopted a societal marketing orientation focuses on ______.

Accepted Answer

A)   the needs and wants of the customers
B)   aggressive sales techniques
C)   enhancing individuals' and society's long-term best interests
D)   the internal capabilities of the firmE) A) and C)
F) B) and D)

Question 11

Marketing career opportunities almost exclusively exist in nonbusiness organizations.

Accepted Answer

A) True 
 B)False

Question 12

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one?

Accepted Answer

A)   Keeping the firm focused on its customer,instead of becoming preoccupied with its internal needs
B)   Encouraging innovation,creativity,and developing new ways to satisfy customer expectations
C)   Stimulating an awareness of changes in customer desires and preferences so that product offerings remain relevant
D)   Satisfying customer wants and needs may not always be in the best interests of society as a wholeE) A) and B)
F) A) and C)

Question 13

A firm that acknowledges the importance of all four marketing mix decisions (product decisions,place or distribution decisions,promotion decisions,and pricing decisions) is a ______ firm.

Accepted Answer

A)   sales-oriented
B)   market-oriented
C)   production-oriented
D)   societal-orientedE) None of the above
F) C) and D)

Question 14

Identify the situation(s) in which a production-oriented firm can survive or prosper in the market place.

Accepted Answer

A)   When competition is weak
B)   When demand exceeds supply
C)   When competition is strong
D)   When supply exceeds demandE) C) and D)
F) B) and D)

Question 15

When an organization believes that apart from achieving its targets and satisfying customers,it also needs to be responsible for preserving or enhancing individuals' and society's long-term best interests,then the organization is said to have a ______ marketing orientation.

Accepted Answer

A)   production
B)   sales
C)   customer
D)   societalE) B) and D)
F) A) and B)

Question 16

A production-orientated company can survive in a competitive market if ______.

Accepted Answer

A)   its goods and services meet the needs of the marketplace
B)   it does not implement aggressive sales techniques
C)   it focuses solely on society's long-term best interests
D)   it does not assess the internal capabilities of the firmE) C) and D)
F) A) and B)

Question 17

A firm could benefit from a production orientation when _____.

Accepted Answer

A)   it produces exactly what the market wants
B)   the market demand is less than the products supplied by the firm
C)   it hopes that the product it produces is something customers want
D)   it focuses on what company management thinks should be producedE) B) and C)
F) A) and C)

Question 18

Which of the following statements is true of the marketing concept?

Accepted Answer

A)   It states that an organization should satisfy customer wants and needs while meeting organizational objectives.
B)   It overlooks the importance of understanding the competitive arena and competitors' strengths and weaknesses.
C)   It states that firms should give maximum importance to aggressive promotional and advertising activities.
D)   It states that marketing solely means selling things and collecting money.E) A) and D)
F) A) and B)

Question 19

Firm XYZ is known for adopting a strategy that focuses on designing new products based on their assessment of the capabilities of their engineers and on the easy availability of resources.The firm's approach,which emphasizes the ease of production and the talents of its resources rather than the needs and wants of the marketplace,can be attributed to its ______ orientation.

Accepted Answer

A)   production
B)   sales
C)   market
D)   societalE) A) and B)
F) A) and C)

Question 20

In most cases,in order for a firm to succeed in a competitive market,it needs to have a clear understanding of the marketplace and produce products based on the wants and needs of the customers,rather than expecting the customers to want the products manufactured solely based on the assessment of the firm's internal capabilities.

Accepted Answer

A) True 
 B)False

Exam 1: An Overview of Marketing

Correct Answer
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Correct Answer
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Which activity/activities are involved in the process of marketing?

Correct Answer
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Marketing career opportunities almost exclusively exist in nonbusiness organizations.

Correct Answer
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A firm that acknowledges the importance of all four marketing mix decisions (product decisions,place or distribution decisions,promotion decisions,and pricing decisions) is a ______ firm.

Correct Answer
verified

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one?

Correct Answer
verified

Correct Answer
verified

Thrift stores seek to achieve profitability through high sales volumes.

Correct Answer
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Which of the following is a similarity between a production orientation and a sales orientation?

Correct Answer
verified

Correct Answer
verified

When an organization believes that apart from achieving its targets and satisfying customers,it also needs to be responsible for preserving or enhancing individuals' and society's long-term best interests,then the organization is said to have a ______ marketing orientation.

Correct Answer
verified

When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace,then the firm is said to have adopted the ______ orientation.

Correct Answer
verified

A firm could benefit from a production orientation when _____.

Correct Answer
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Which of the following statements is true of the marketing concept?

Correct Answer
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A firm that has adopted a societal marketing orientation focuses on ______.

Correct Answer
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According to sales-oriented firms,marketing means ______.

Correct Answer
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Identify the situation(s) in which a production-oriented firm can survive or prosper in the market place.

Correct Answer
verified

A production-orientated company can survive in a competitive market if ______.

Correct Answer
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The management of PQR Electronics believes that success can be achieved with a thorough understanding of its competitive arena and by developing products that satisfy the needs,wants,and expectations of customers.Therefore,PQR Electronics can be said to have a ______ orientation.

Correct Answer
verified

A customer's assessment of whether a organization's goods or services have met his or her needs and expectations is defined as ______.

Correct Answer
verified

Exam 1: An Overview of Marketing

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which activity/activities are involved in the process of marketing?

Correct AnswerverifiedShow Answer

Marketing career opportunities almost exclusively exist in nonbusiness organizations.

Correct AnswerverifiedShow Answer

A firm that acknowledges the importance of all four marketing mix decisions (product decisions,place or distribution decisions,promotion decisions,and pricing decisions) is a ______ firm.

Correct AnswerverifiedShow Answer

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Thrift stores seek to achieve profitability through high sales volumes.

Correct AnswerverifiedShow Answer

Which of the following is a similarity between a production orientation and a sales orientation?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When an organization believes that apart from achieving its targets and satisfying customers,it also needs to be responsible for preserving or enhancing individuals' and society's long-term best interests,then the organization is said to have a ______ marketing orientation.

Correct AnswerverifiedShow Answer

When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace,then the firm is said to have adopted the ______ orientation.

Correct AnswerverifiedShow Answer

A firm could benefit from a production orientation when _____.

Correct AnswerverifiedShow Answer

Which of the following statements is true of the marketing concept?

Correct AnswerverifiedShow Answer

A firm that has adopted a societal marketing orientation focuses on ______.

Correct AnswerverifiedShow Answer

According to sales-oriented firms,marketing means ______.

Correct AnswerverifiedShow Answer

Identify the situation(s) in which a production-oriented firm can survive or prosper in the market place.

Correct AnswerverifiedShow Answer

A production-orientated company can survive in a competitive market if ______.

Correct AnswerverifiedShow Answer

The management of PQR Electronics believes that success can be achieved with a thorough understanding of its competitive arena and by developing products that satisfy the needs,wants,and expectations of customers.Therefore,PQR Electronics can be said to have a ______ orientation.

Correct AnswerverifiedShow Answer

A customer's assessment of whether a organization's goods or services have met his or her needs and expectations is defined as ______.

Correct AnswerverifiedShow Answer

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