Question 1

Best Buy has become the nation's largest specialty retailer by focusing on the customer's needs and wants.This philosophy is at the heart of a(n)_____ orientation.

Accepted Answer

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

Question 2

In the early 1920s,Ford promised its customers any color vehicle they wanted as long as it was black.Ford's management assumed anyone buying a car would accept the color black,so it made products affordable by offering only one variety in large quantities.Ford is an example of a market-oriented firm.

Accepted Answer

A) True 
 B)False

Question 3

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

Accepted Answer

A) True 
 B)False

Question 4

A market-oriented firm defines its business in terms of:

Accepted Answer

A)  goods and services 
B)  the benefits its customers seek 
C)  employee empowerment 
D)  competitive position 
E)  customer satisfaction 
A)  goods and services 
B)  the benefits its customers seek 
C)  employee empowerment 
D)  competitive position 
E)  customer satisfaction

Question 5

The American Marketing Association's definition of marketing:

Accepted Answer

A)  is limited to promotional activities 
B)  focuses on the value of empowerment, teamwork, and customer value 
C)  shows how marketing benefits the marketer 
D)  relies on the synergy created by exchange 
E)  includes creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 
A)  is limited to promotional activities 
B)  focuses on the value of empowerment, teamwork, and customer value 
C)  shows how marketing benefits the marketer 
D)  relies on the synergy created by exchange 
E)  includes creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 6

_____ is a strategy that focuses on keeping and improving relationships with current customers.

Accepted Answer

A)  Commitment selling 
B)  Relationship marketing 
C)  Transactional marketing 
D)  Market engineering 
E)  Organization-customer synergy 
A)  Commitment selling 
B)  Relationship marketing 
C)  Transactional marketing 
D)  Market engineering 
E)  Organization-customer synergy

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

Ninety-six percent of USAA home insurance policy holders report that USAA representatives meet their commitment in calling back customers quickly about claims.The most likely result of USAA's efforts is:

Accepted Answer

A)  management empowerment 
B)  retailer-customer synergy 
C)  customer satisfaction 
D)  transactional marketing 
E)  disintermediation 
A)  management empowerment 
B)  retailer-customer synergy 
C)  customer satisfaction 
D)  transactional marketing 
E)  disintermediation

Question 9

Only a firm's salespeople need to be customer oriented.

Accepted Answer

A) True 
 B)False

Question 10

Procter & Gamble (P&G)decided to address the fact that Hispanic women are more likely to die from breast cancer because they're reluctant to get mammograms or discuss screening.So P&G brought screening to the supermarket,parking mobile mammography vehicles in grocery store parking lots in Texas and inviting shoppers in for free x-rays.Tie-ins with local hospitals assured that women with suspicious films got follow-up care.P&G adopted a _____ orientation to achieve this goal.

Accepted Answer

A)  promotional 
B)  societal marketing 
C)  customer 
D)  marketing 
E)  product 
A)  promotional 
B)  societal marketing 
C)  customer 
D)  marketing 
E)  product

Question 11

A problem facing the timber industry is the absence of any effective way to prove that rain forest timber has been legally harvested.In places like Indonesia,as much as 80 percent of timber available for sale is illegally cut.Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rain forests.Which of the following conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot?

Accepted Answer

A)  There are more than two parties involved. 
B)  Each party has something of value to bring to the exchange. 
C)  One party is free to accept the exchange offer. 
D)  Each party believes it is appropriate to deal with the other party. 
E)  Nobody sees the exchange as producing value. 
A)  There are more than two parties involved. 
B)  Each party has something of value to bring to the exchange. 
C)  One party is free to accept the exchange offer. 
D)  Each party believes it is appropriate to deal with the other party. 
E)  Nobody sees the exchange as producing value.

Question 12

Explain how technology has changed the role of the consumer for today's marketers.

Accepted Answer

Technology has allowed consumers to beco

Question 13

The focus of a production-oriented firm is on what it can make or do best.

Accepted Answer

A) True 
 B)False

Question 14

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 15

All of the following are good reasons to study marketing EXCEPT:

Accepted Answer

A)  Marketing creates consumer needs. 
B)  Marketing plays an important role in society, coordinating the huge numbers of transactions needed to provide goods and services. 
C)  Marketing is a key function in business. 
D)  Marketing offers outstanding career opportunities. 
E)  Marketing affects your day-to-day life as a consumer. 
A)  Marketing creates consumer needs. 
B)  Marketing plays an important role in society, coordinating the huge numbers of transactions needed to provide goods and services. 
C)  Marketing is a key function in business. 
D)  Marketing offers outstanding career opportunities. 
E)  Marketing affects your day-to-day life as a consumer.

Question 16

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

Accepted Answer

A)  price is the most important variable for customers 
B)  sales depend predominantly on an aggressive sales force 
C)  what the customer thinks he or she is buying is what is important 
D)  a company has to apply scientific management techniques to survive 
E)  selling and marketing are essentially the same thing 
A)  price is the most important variable for customers 
B)  sales depend predominantly on an aggressive sales force 
C)  what the customer thinks he or she is buying is what is important 
D)  a company has to apply scientific management techniques to survive 
E)  selling and marketing are essentially the same thing

Question 17

Chaz loves to play a Disney online pirate game in which he gets to create a pirate by choosing hair color,skin color,clothing,and physical features.Then he gets to choose from a variety of quests and can sail a ship,dig for treasure,fight skeleton pirates,or fight the British Navy.This game provides what element of value?

Accepted Answer

A)  Offering products that perform 
B)  Earning of trust 
C)  Avoiding unrealistic pricing 
D)  Giving facts 
E)  Co-creation 
A)  Offering products that perform 
B)  Earning of trust 
C)  Avoiding unrealistic pricing 
D)  Giving facts 
E)  Co-creation

Question 18

_____ 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

A)  Management-employee synergy 
B)  Organizational entropy 
C)  Managerial reciprocity 
D)  Empowerment 
E)  Delegation 
A)  Management-employee synergy 
B)  Organizational entropy 
C)  Managerial reciprocity 
D)  Empowerment 
E)  Delegation

Question 19

Mimi Couturier is a design company that specializes in formalwear for women.The company is known for challenging fashion mores.The company's fashion designers use computer-assisted design software to create what it thinks women should wear.The company regularly hires industry experts to examine its factories to find waste and inefficiencies that can be eliminated.The company has expanded the number of products it offers for sale many times.However,for the last two years Mimi Couturier has lost money,and it has had to lay off some of its workforce.To avoid this occurrence in the future,Mimi Couturier should:

Accepted Answer

A)  hire more retail efficiency experts to trace down any production problems 
B)  increase its sales force to find more potential customers for the firm 
C)  have someone study its target market to see what needs and wants should be met by Mimi Couturier 
D)  cut prices so that its prices will be at least 10 percent below those of its competitors 
E)  design more sophisticated products that use the latest computer-aided techniques 
A)  hire more retail efficiency experts to trace down any production problems 
B)  increase its sales force to find more potential customers for the firm 
C)  have someone study its target market to see what needs and wants should be met by Mimi Couturier 
D)  cut prices so that its prices will be at least 10 percent below those of its competitors 
E)  design more sophisticated products that use the latest computer-aided techniques

Question 20

What is the American Marketing Association's (AMA)definition of marketing and what does marketing entail?

Accepted Answer

According to the AMA,marketing is the ac

Exam 1: An Overview of Marketing

Best Buy has become the nation's largest specialty retailer by focusing on the customer's needs and wants.This philosophy is at the heart of a(n)_____ orientation.

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

A market-oriented firm defines its business in terms of:

The American Marketing Association's definition of marketing:

_____ is a strategy that focuses on keeping and improving relationships with current customers.

Ninety-six percent of USAA home insurance policy holders report that USAA representatives meet their commitment in calling back customers quickly about claims.The most likely result of USAA's efforts is:

Only a firm's salespeople need to be customer oriented.

Explain how technology has changed the role of the consumer for today's marketers.

The focus of a production-oriented firm is on what it can make or do best.

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

All of the following are good reasons to study marketing EXCEPT:

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

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

What is the American Marketing Association's (AMA)definition of marketing and what does marketing entail?

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