MARKETING 1120 CH 1

A problem facing the timber industry is the absence of an effective way to prove that rainforest timber was legally harvested. Companies like The Home Depot do not want to sell timber from illegally logged forests. If a supplier is trying to sell illegally acquired logs to Home Depot, which condition of exchange would Home Depot be concerned about?

Each party believes it is appropriate to deal with the other party.

Which of the following is a condition for an exchange?

Each party must have something of value to the other party.

Which statement best describes a market-oriented firm?

It assumes that a sale depends on a customer's decision to purchase a product.

Which statement best describes the marketing concept?

It focuses on the importance of understanding customers and competition.

Suzy works for a company that markets timeshare condos on beach resorts in Mexico. Her job is to phone consumers and invite them to a free weekend at one of her employer's beach resorts. The only catch is that visitors are obliged to take a tour and listen to a presentation about investing in a timeshare. Which orientation is Suzy's company exhibiting?

Market Orientation

Which statement best describes marketing?

Marketing involves understanding customer needs.

Jackie hopes to operate her family's restaurant after she graduates from college. Jackie has been advised to take a marketing course, but she thinks this would be a waste of time. You are her friend and a marketing major. What would you NOT say to Jackie?

Marketing is not relevant for a business like a family restaurant.

Which statement best describes marketing's role in a society?

Marketing looks externally to solve a company's problems.

Which statement best describes what a marketer must do in order to create customer value?

Partner with consumers to co-create experiences that consumers want.

Powell Motors, an automobile manufacturing company, spent considerable time, effort, and money to develop a reinforced fibre dashboard for its cars without researching customer needs. The cars manufactured by Powell Motors are priced higher than other companies' cars belonging to the same segment because of the new dashboard. The company has introduced the cars in the market hoping that customers would like this type of dashboard in their cars and would buy them despite the high price. In this scenario, what has Powell Motors adopted?

Production orientation

Which orientation is a philosophy that focuses on the internal capabilities of a firm rather than on the desires and needs of the marketplace?

Production orientation

Suzy works for a company that markets timeshare condos on beach resorts in Mexico. Her job is to phone consumers and invite them to a free weekend at one of her employer's beach resorts. The only catch is that visitors are obliged to take a tour and listen to a presentation about investing in a timeshare. Which orientation is Suzy's company exhibiting?

Sales Orientation

Which of the following states that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives?

Sales concept

Which statement best describes personnel in sales-oriented firms?

They focus on selling the products which the organization makes rather than making what the market wants.

Which term refers to the relationship between benefits and the sacrifice necessary to obtain those benefits?

customer value

What does a marketing concept include?

distinguishing a firm's products from its competitors' offerings

Joanne noticed that her neighborhood had a large number of children who attended school until mid-afternoon and then came home to an empty house while their parents were still at work. She canvassed the neighborhood and asked parents if they would be willing to rent facilities at a nearby park so that their children could participate in safe but stimulating activities under the care of young adult volunteers. There was an overwhelmingly positive response and Joanne started the Kids' Klub in her neighborhood. Which orientation is Joanne demonstrating?

marketing company orientation

Which orientation is based on the belief that people will buy more goods and services if aggressive marketing techniques are used?

sales orientation

Paul Newman's line of Newman's Own food products donates all profits to charitable organizations. Which orientation has Newman's Own adopted?

societal marketing orientation

TrinkCan, a soda manufacturing company, found out that the packaging material of its products is not eco-friendly. After learning this, TrinkCan started using eco-friendly packaging material and also made some modifications to the packing process so that it leaves behind lesser toxic materials than the earlier process. In this scenario, what has TrinkCan adopted?

societal marketing orientation