Business Quiz

The concept of exchange is important to marketing because:

Marketing activities help to create exchange

Customer value is the relationship between company profits and company costs.

false

Both production and sales orientations are focused inward on the organization's needs.

true

Firms try to achieve customer satisfaction and value by ensuring customer expectations are met or exceeded.

true

Marketers interested in offering customer value can:

do all these

While most marketing organizations rely on various forms of promotion to succeed, sales-oriented organizations make the most effective use of their entire marketing mix.

false

The marketing concept involves:

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

A set of activities used to implement a management orientation that stresses customer satisfaction.

marketing

The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customers' wants and needs while meeting organizational objectives.

true

The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

true