Question 1

Which marketing management philosophy focuses on the question,"What do customers want and need,and how can we benefit society?"

Accepted Answer

A)  internal 
B)  external 
C)  sales 
D)  societal marketing 
E)  production 
A)  internal 
B)  external 
C)  sales 
D)  societal marketing 
E)  production

Question 2

A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisfied with its product?

Accepted Answer

A)  hire more salespeople 
B)  decrease its organizational overhead 
C)  increase its advertising to underserved markets 
D)  increase the number of outlets in which the product is sold 
E)  conduct research to determine if its customers' needs have changed 
A)  hire more salespeople 
B)  decrease its organizational overhead 
C)  increase its advertising to underserved markets 
D)  increase the number of outlets in which the product is sold 
E)  conduct research to determine if its customers' needs have changed

Question 3

Explain the societal marketing orientation and describe an example of a company implementing this orientation.

Accepted Answer

The societal marketing orientation is th

Question 4

Minor League Baseball (MiLB)suffers from sluggish attendance.To attract more fans to MiLB games,owners often resort to gimmicks--free hot dog nights,events designed to get into the Guinness Book of Records,and celebrity visits.Since baseball fans are seldom asked what would make them want to attend more games,this suggests most MiLB teams do not have a(n)_____ orientation.

Accepted Answer

A)  sales 
B)  empowerment. 
C)  community 
D)  societal 
E)  market 
A)  sales 
B)  empowerment. 
C)  community 
D)  societal 
E)  market

Question 5

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

A)  promotion-oriented 
B)  price-oriented 
C)  sales-oriented 
D)  production-oriented 
E)  retail-oriented 
A)  promotion-oriented 
B)  price-oriented 
C)  sales-oriented 
D)  production-oriented 
E)  retail-oriented

Question 6

One facet of marketing is that it is:

Accepted Answer

A)  an approach that focuses on maximizing sales 
B)  a short-term oriented approach to profit maximization 
C)  an approach that requires diversity 
D)  a philosophy that stresses customer satisfaction 
E)  independent of value creation 
A)  an approach that focuses on maximizing sales 
B)  a short-term oriented approach to profit maximization 
C)  an approach that requires diversity 
D)  a philosophy that stresses customer satisfaction 
E)  independent of value creation

Question 7

Frequent-flyer programs are an example of financial incentives to customers in exchange for their continuing patronage.After flying a certain number of miles or flying a specified number of times,the frequent-flyer program participant earns a free flight or some other award such as free lodging.Airlines that use frequent-flyer programs are practicing:

Accepted Answer

A)  commitment selling 
B)  transaction marketing 
C)  transformational marketing 
D)  marketing engineering 
E)  relationship marketing 
A)  commitment selling 
B)  transaction marketing 
C)  transformational marketing 
D)  marketing engineering 
E)  relationship marketing

Question 8

Fujifilm Computer Products has improved the efficiency and productivity of its plant,which manufactures printing technology.For the new fiscal year,the company projects a production increase of 25 percent.It has instructed its sales force to aggressively distribute and promote its printers.The CEO is sure the market will absorb more product if the sales force is determined and assertive.Fujifilm appears to have a _____ orientation.

Accepted Answer

A)  market 
B)  production 
C)  sales 
D)  customer 
E)  marketplace 
A)  market 
B)  production 
C)  sales 
D)  customer 
E)  marketplace

Question 9

Marketing is defined as producing,promoting,and selling products.

Accepted Answer

A) True 
 B)False

Question 10

The Geek Squad is a tech support station located inside every Best Buy electronics retail store.Best Buy gives intensive training to the Geeks.The purpose of this training is to:

Accepted Answer

A)  improve customer service 
B)  give higher education benefits to employees 
C)  promote the company image by increasing public awareness 
D)  reduce the need of empowerment 
E)  increase employment levels 
A)  improve customer service 
B)  give higher education benefits to employees 
C)  promote the company image by increasing public awareness 
D)  reduce the need of empowerment 
E)  increase employment levels

Question 11

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

Accepted Answer

A)  The company develops its products to meet the needs of specific groups of people. 
B)  The primary goal of the company is profit through customer satisfaction. 
C)  The company invests the majority of its resources in promoting its products and services. 
D)  The company is in business to satisfy customers' wants and needs and deliver superior value. 
E)  All of these statements about a typical sales-oriented business are true. 
A)  The company develops its products to meet the needs of specific groups of people. 
B)  The primary goal of the company is profit through customer satisfaction. 
C)  The company invests the majority of its resources in promoting its products and services. 
D)  The company is in business to satisfy customers' wants and needs and deliver superior value. 
E)  All of these statements about a typical sales-oriented business are true.

Question 12

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

Accepted Answer

A)  Opportunity cost 
B)  Marketing utility 
C)  Market quality 
D)  Satisfaction percentage 
E)  Customer value 
A)  Opportunity cost 
B)  Marketing utility 
C)  Market quality 
D)  Satisfaction percentage 
E)  Customer value

Question 13

A company that wants to implement a market orientation would need to:

Accepted Answer

A)  do research on its customers, competitors, and markets 
B)  determine how to deliver superior customer value 
C)  establish and maintain mutually satisfying relationships with customers 
D)  implement actions that provide value to customers 
E)  do all of the activities listed 
A)  do research on its customers, competitors, and markets 
B)  determine how to deliver superior customer value 
C)  establish and maintain mutually satisfying relationships with customers 
D)  implement actions that provide value to customers 
E)  do all of the activities listed

Question 14

Ritz-Carlton Hotels
Cesar Ritz, the founder of the original Ritz-Carlton, Boston, was known as the "king of hoteliers and the hotelier to kings." Today, there are more than 70 Ritz-Carlton hotels spanning 24 countries with 38,000 employees. These are not typical employees, though. They are described as "Ladies and Gentlemen serving Ladies and Gentlemen." Each employee participates in an intensive orientation program and recertification programs throughout their careers with the company, and many are allowed $2,000 to fix a guest's problem on the spot without managerial approval. So renowned is the Ritz way of doing business that the company offers a Leadership Center for executives and managers of other companies to learn and implement the Ritz way of customer service. It doesn't stop with employees, though. Ritz-Carlton hotels recently launched "Give Back Getaways" in 2008 that allow guests to volunteer in locales where they are vacationing. The hotel also offers "Vow to Help Others" which is a program that donates a portion of a wedding couple's reception costs to those in need. The chief operating officer's words sum up Ritz-Carlton's philosophy best when he stated, "If we really do our job, we really don't need sales anymore. Satisfied guests are your advertising."
-Refer to Ritz-Carlton Hotels.The "Give Back Getaways" and "Vow to Help Others" programs offered by Ritz-Carlton hotels are applications of which marketing management philosophy?

Accepted Answer

A)  societal 
B)  sales 
C)  production 
D)  market 
E)  retail 
A)  societal 
B)  sales 
C)  production 
D)  market 
E)  retail

Question 15

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

Accepted Answer

A)  exchange 
B)  product 
C)  production 
D)  sales 
E)  environmental 
A)  exchange 
B)  product 
C)  production 
D)  sales 
E)  environmental

Question 16

As part of instituting an empowerment program,a marketing director should:

Accepted Answer

A)  hire college graduates who have the latest training in marketing management techniques 
B)  create a customer-service department and place a key staff person in charge of the department 
C)  train the company's staff to judge the quality of the products the firm produces 
D)  allow non-management employees to resolve problems on their own without prior approval from their immediate supervisors 
E)  conduct a survey of the company's marketing staff to learn about employee morale 
A)  hire college graduates who have the latest training in marketing management techniques 
B)  create a customer-service department and place a key staff person in charge of the department 
C)  train the company's staff to judge the quality of the products the firm produces 
D)  allow non-management employees to resolve problems on their own without prior approval from their immediate supervisors 
E)  conduct a survey of the company's marketing staff to learn about employee morale

Question 17

If a firm has a production orientation,what types of questions does management ask after assessing its resources?

Accepted Answer

With a production orientation,management

Question 18

TUFF SHED,Inc.is one of the leading suppliers of installed storage buildings and garages in the United States.TUFF SHED mandates that sales,management and construction teams work together to anticipate and eliminate potential problems.They make sure customers get the right buildings for their needs,and they all are built well and in a timely manner. By using teamwork TUFF SHED:

Accepted Answer

A)  operates successfully using a production orientation 
B)  provides its customer with a high level of satisfaction 
C)  has a high employee turnover rate 
D)  does not deliver superior customer service 
E)  has a sales orientation 
A)  operates successfully using a production orientation 
B)  provides its customer with a high level of satisfaction 
C)  has a high employee turnover rate 
D)  does not deliver superior customer service 
E)  has a sales orientation

Question 19

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

Accepted Answer

A) True 
 B)False

Question 20

Unlike a production orientated firm,a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.

Accepted Answer

A) True 
 B)False

Which marketing management philosophy focuses on the question,"What do customers want and need,and how can we benefit society?"

A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisfied with its product?

Explain the societal marketing orientation and describe an example of a company implementing this orientation.

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:

One facet of marketing is that it is:

Marketing is defined as producing,promoting,and selling products.

The Geek Squad is a tech support station located inside every Best Buy electronics retail store.Best Buy gives intensive training to the Geeks.The purpose of this training is to:

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

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

A company that wants to implement a market orientation would need to:

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

As part of instituting an empowerment program,a marketing director should:

If a firm has a production orientation,what types of questions does management ask after assessing its resources?

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

Unlike a production orientated firm,a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Filters

Exam 1: An Overview of Marketing

Which marketing management philosophy focuses on the question,"What do customers want and need,and how can we benefit society?"

A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisfied with its product?

Explain the societal marketing orientation and describe an example of a company implementing this orientation.

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:

One facet of marketing is that it is:

Marketing is defined as producing,promoting,and selling products.

The Geek Squad is a tech support station located inside every Best Buy electronics retail store.Best Buy gives intensive training to the Geeks.The purpose of this training is to:

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

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

A company that wants to implement a market orientation would need to:

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

As part of instituting an empowerment program,a marketing director should:

If a firm has a production orientation,what types of questions does management ask after assessing its resources?

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

Unlike a production orientated firm,a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Filters