Marketing CH 1

Life is good® developed the "Good Karma" line of environmentally friendly 100% organic cotton apparel. The production of the Good Karma line is consistent with a _____ orientation. a) societal marketing b) supplier c) sales d) production e) philanthropic

A

All of the following are marketing management philosophies EXCEPT: a) sales orientation b) societal marketing orientation c) market orientation d) profitability orientation e) production orientation

D

Which of the following is the customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations? a) Value b) Perception c) Attitude d) Dissonance e) Satisfaction

E

T/F: Customer value is the relationship between company profits and company costs

false

T/F: Marketing is defined as producing, promoting, and selling products

false

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

true

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

For an exchange to take place: a) there must be at least two parties involved b) money must be used in the transaction c) each party must feel obligated to accept the offer d) at least one party must have something of value that the other party desires e) neither party must communicate with the other

A

If a company uses a sales orientation, consumer complaints would most likely result in: a.) a modification of the sales presentation b.) product reinvention c.) continuous market research d.) philanthropy e.) attempts to cut production costs

A

Life is good® no longer encloses its apparel in individual poly bags when shipping to customers because the management feels it harms the environment. This is an example of a _____ orientation. a) societal marketing b) sales c) reciprocal exchange d) production e) product

A

All of the following are basic marketing mix decisions EXCEPT: a) sales b) price c) product design d) place (distribution) e) promotion

A

A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its ability to communicate value, its pricing policy, and the distribution strategy. These activities are all a part: a) a control system b) marketing c) accounting d) production e) human resources

B

A firm with a production orientation is most likely to survive if: a) there are many small competitors in the marketplace b) demand for the product it produces exceeds supply c) the needs of the marketplace are constantly shifting d) supply for the product it produces exceeds demand e) any of these conditions exist

B

A market-oriented firm defines its business in terms of: a) goods and services b) the benefits its customers seek c) employee empowerment d) competitive position e) customer satisfaction

B

A sales-oriented firm defines its business (or mission) in terms of: a) employees b) goods and services c) customers d) competitors e) benefits

B

T/F: 3D Systems is a company that uses computers to generate new product prototypes. It has generated loyal business clients by providing the best customer support in the industry. The company also provides direct sales consultations that give its salespeople intimate knowledge about what exactly its customers want. This partnership between 3D Systems and its customers entails relationship marketing

true

T/F: An exchange cannot take place unless each party in the exchange has something that the other party values.

true

T/F: Marketing is important to business, so marketing should be part of the job of everyone in the organization, not just those in marketing.

true

T/F: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

true

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

true

T/F: Salespeople who work for market-oriented organizations are generally perceived by their customers as problem solvers and important links to supply sources and new products.

true

T/F: Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to the introduction, the company had not conducted market research among its customers, but it was confident that its science and technology department had produced a successful new product. Based on this example, Sara Lee is a good example of a production-oriented company

true

T/F: 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

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: a) promotion oriented b) price oriented c) sales oriented d) production oriented e) retail oriented

C

SAP, the world's largest business software company, has pledged to put the "customer at the center" of their universe. SAP has captured the idea of: a.) the 80/20 rule b.) Maslow's hierarchy of needs c.) the marketing concept d.) the sales orientation philosophy e.) the societal concept

C

Which marketing management philosophy focuses on the question, "How can we sell more aggressively?" a.) Production b.) Marketing c.) Sales d.) External e.) Internal

C

A company that has a market orientation and adheres to the marketing concept does NOT: a.) integrate all the activities of the firm to satisfy customer wants b.) focus on consumer needs and wants c.) differentiate the firm's products from its competitor's products d.) fuel sales growth through the application of aggressive sales techniques e.) concentrate on long-term goal achievement (such as profits and growth) for the firm

D

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits. a) Opportunity cost b) Marketing utility c) Market quality d) Satisfaction percentage e) Customer value

E

relationship marketing

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

T/F: 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

false

T/F: Only a firm's salespeople need to be customer oriented

false

marketing concept

idea that the social and economic justification for an organizations existence is the satisfaction of customer wants and needs while meeting organizational objectives

production philosophy

internal capabilities of a firm

societal phiolosophy

satisfying customer needs and wants while enhancing individual and social well being

customer satisfaction

the feeling that a product met or exceeded the customers expectations

T/F: The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

true

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

true

Most companies become sensitized to community issues after they've done enough damage to draw the locals' anger. Dofasco, Inc., a highly successful steel company in Ontario, tries to get ahead of business and community issues by annually bringing together representatives from the local area and deciding which projects to improve the local environment will be implemented. This annual community-wide meeting indicates Dofasco has a _____ orientation. a) societal marketing b) sales c) reciprocal exchange d) production e) product

A

One of the reasons given for the decline of the passenger rail industry in the United States is that the industry defined its mission as trains and not as transportation sources. The railroad industry failed to: a) define its mission in terms of the benefits its customers seek b) ignore the marketing concept of serving customer needs and wants c) realize "customers only want what they know" d) have a sales orientation e) empower the consumer

A

Target shoppers can enroll in the Take Charge of Education® program so that Target will donate 1 percent of purchases made with a consumer's REDcard, a Target credit card. The more money customers spend, the larger the donation to the consumer's school of choice. By instituting the Take Charge of Education® program to help local schools, Target has shown a _____ orientation. a) societal marketing b) supplier c) sales d) production e) philanthropic

A

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: 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

The marketing concept involves: a.) focusing on customers' wants and needs so that the organization can distinguish its product (or products) from competitors' products b.) satisfying management's needs and wants with the idea of maximizing profits in the short run c.) selling as much product as possible under the assumption people will buy more goods and services if aggressive selling techniques are used d.) selling as much as possible under the assumption consumers will buy more at lower prices e.) focusing on production in order to increase product quality and lower prices

A

Which marketing management philosophy focuses on the question, "What can we make or do best?" a.) Production b.) Marketing c.) Sales d.) Societal e.) Internal

A

Which marketing management philosophy is often adopted by organizations that sell unsought products such as life insurance, retirement plans, and preplanned funeral services? a) Sales orientation b) Production orientation c) Marketing orientation d) Product orientation e) Customer orientation

A

Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used? a) Sales b) Production c) Market d) Customer e) Marketplace

A

Which of the following occurs when people give up something in order to receive something they would rather have? a) Exchange b) Synergy c) Transformation d) Leveraging e) Reciprocity

A

All of the following are necessary for exchange to occur EXCEPT: a) each party is capable of communication and delivery b) each party signs a contract before exchange occurs c) each party believes it is appropriate or desirable to deal with the others d) each party is free to accept or reject the exchange offer e) each party must have something the other party considers to be valuable

B

At The Container Store, every employee is trained to serve customers. Full-time salespeople receive 240 hours of training. The Container Store works to hire people who are self-motivated and have a passion for customer service. The Container Store has a _____ orientation. a.) sales b.) market c.) product d.) societal e.) production

B

At the Lands' End Web site, a customer can chat online with customer service representatives while shopping. This live help allows the customer to have questions answered before placing an order. This focus on meeting customer needs illustrates a(n) _____ orientation. a) societal b) market c) sales d) production e) one-to-one

B

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. a) sales b) market c) retail d) production e) exchange

B

Firms with a _____ orientation focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace. a) sales b) production c) market d) customer e) customer-benefit

B

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 and has instructed its sales force to aggressively distribute and promote the product. The CEO is sure the market will absorb more product if the sales force is determined and assertive. Apparently Fujifilm: a) has an outward organizational focus on its customers wants and preferences b) seeks its goals primarily through the use of intensive promotion c) directs its products to specific groups of people d) is in the business of satisfying customers e) profits through customer satisfaction

B

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. a) promotional b) societal marketing c) customer d) marketing e) product

B

Researchers at PPG Industries spent considerable time, effort, and money developing a bluish windshield that would let in filtered sunlight but block out the heat. Little market research was done, but the scientists were convinced this new product would be significantly better than existing windshields even though it was more expensive and of a different color than the current models on the market. This scenario suggests PPG most likely has a(n) _____ orientation. a) exchange b) production c) sales d) promotion e) customer

B

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: 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

B

The U.S. Postal Service (USPS) argues that its express service is comparable to what is offered by FedEx and that its prices are much lower. Yet, FedEx dominates with more than a 45 percent share of the express-delivery market. Which of the following statements describes this situation? a) The USPS is perceived as offering greater customer value. b) FedEx is perceived as offering greater customer value. c) FedEx and the USPS offer the same customer value. d) Customer value is not an issue in deciding which express-delivery service to use. e) The USPS should lower its prices even further to increase market share.

B

The _____ orientation assumes people will buy more if aggressive selling techniques are used. a) market b) sales c) customer d) production e) exchange

B

The sales and market orientations differ on all of the following characteristics EXCEPT: a) those to whom the product is directed b) the firm's performance c) the firm's business d) the firm's primary goal e) the tools to achieve goals

B

Toyota found that consumers wanted cars to last longer and be more environmentally friendly. GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a _____ orientation. a) sales b) production c) market d) product e) customer

B

Walker Farms heard from many of its customers that they would like organic produce. As a result, Walker Farms became a certified organic farm. Walker realized that while not all consumers were willing to pay the higher prices for organic produce, his customers wanted the organic produce. Walker realized: a) he missed sales by not concentrating on the average customer b) different customer groups have different needs and wants c) he is a sales-oriented farm d) his business is about selling the cheapest vegetables e) his aim is a goal of profit through maximum sales volume

B

When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking toilet, he gathered up materials totaling almost $70. One his way to check out, an employee asked him what was he trying to fix. After some discussion, the employee convinced the homeowner that a $5.99 replacement part would fix the problem better than the materials he thought he needed and with less trouble. This sort of discussion between employees and customers is commonplace at The Home Depot and indicates the retail store has a(n) _____ orientation. a.) sales b.) market c.) product d.) exchange e.) production

B

_____ is a strategy that focuses on keeping and improving relationships with current customers. a) Commitment selling b) Relationship marketing c) Transactional marketing d) Market engineering e) Organization-customer synergy

B

_____ is the collaborative efforts of people to achieve common objectives. a) Effort training b) Teamwork c) Empowerment d) OJT training e) Mediation

B

_____ is the primary tool used by a sales-oriented organization to achieve its corporate goals. a) Price b) Promotion c) Product design d) Place (distribution) e) Production

B

Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers in the western United States. The company's management believes its retail customers will stock more jewelry if its salespeople use aggressive marketing techniques, so the company provides strong incentives for salespeople and promotional allowances to resellers to get distribution for its jewelry. In other words, the company has a _____ orientation. a) promotion b) production c) sales d) market e) customer

C

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

C

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. a.) market b.) production c.) sales d.) customer e.) marketplace

C

Greenberg Smoked Turkey, Inc. is a nationwide mail-order business that operates without any advertising. It does not accept credit cards, has no toll-free number for customers to call, and does not have a Web site. This hopelessly old-fashioned company is also very profitable with thousands of devoutly loyal customers--some of whom have ordered Greenberg smoked turkeys every year for the last 50 years. Greenberg more than likely uses _____ to maintain these long-term ties to its customers. a) reactive marketing b) synergistic management c) relationship marketing d) a sales orientation e) management empowerment

C

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. a) exchange b) product c) production d) sales e) environmental

C

Jewelry stores want to provide their customers with the highest quality of diamonds available at the lowest possible prices. Unfortunately, the lowest priced diamonds these days are sold by African rebels who use the profits to engage in genocide. Human rights organization have asked jewelers to buy diamonds that are "conflict free"--that is, from South Africa, Australia, or Canada. LeeBrant is one retail jewelry store that sells only diamonds that are certified to be from these countries. LeeBrant is exhibiting which marketing management orientation? a) Production b) Sales c) Societal marketing d) Direct e) Omnipotent

C

Kellogg's gives consumers the chance to receive a free DVD. Consumers who buy five boxes of specially marked cereal can cut out the coupons and mail in their completed official form to get a free DVD. Kellogg's is engaging in: a) transactional marketing b) sports distribution c) relationship marketing d) one-to-one marketing e) customer transformation

C

Kellogg's is offering free DVDs to consumers who collect five official Collection certificates from the back panels of specially marked packages of Kellogg's cereals and then mail them with the official order form. Within 90 days, these consumers will receive the movie of their choice. A(n) _____ will occur when a movie fan mails in his or her certificates for a movie. a) synergy b) sublimation c) exchange d) entropy e) reciprocity

C

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: 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

C

Networkcar.com sells a plug-in device that connects to computer diagnostic ports that are standard on cars. The device beams signals to dealers who can remotely diagnose or spot trouble, allowing car dealerships to maintain a closer bond with their customers by offering maintenance before a problem leaves customers with an inoperable or possibly dangerous car. With the device, dealers can better engage in: a) management empowerment b) management-customer synergy c) relationship marketing d) transactional marketing e) direct selling

C

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: a) management empowerment b) retailer-customer synergy c) customer satisfaction d) transactional marketing e) disintermediation

C

Some market-oriented firms give employees expanded authority to solve customer problems on the spot. This is known as: a) training b) deregulation c) empowerment d) commissioning e) mediating

C

The Ritz-Carlton has Service Values that guide employees in providing its Gold Standard service. One of the service values states, "I own and immediately resolve guest problems." The Ritz-Carlton management uses _____ to provide customer service. a) training b) deregulation c) empowerment d) commissioning e) mediating

C

The concept of exchange is important to marketing because: a) f all the conditions for an exchange are in place, then the exchange will be completed b) exchange provides money to marketers c) marketing activities help to create exchange d) marketing activities are a requirement for exchange to take place e) money is the only medium of exchange for business marketers

C

Which of the following statements about a typical sales-oriented business is 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 customer wants and needs and deliver superior value. e) All of these statements about a typical sales-oriented business are true.

C

Xerox emphasizes _____ by replacing at its own expense any dissatisfied customer's equipment within a period of three years after purchase. a) management empowerment b) management-customer synergy c) customer satisfaction d) transactional marketing e) direct selling

C

_____ is a set of activities used to implement a management orientation that stresses customer satisfaction. a) Planning strategy b) Customer management c) Marketing d) A control system e) Reciprocity

C

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? 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.

D

After hearing his company criticized for its failure to respond to consumer needs, the CEO of a bank realized that his company needs to adhere to the marketing concept and implement a market-oriented strategy. Which of the following actions would be the best approach to achieving this goal? a) Reorganizing the company and making marketing its most important department b) Hiring new salespeople to find new customers c) Expanding the advertising budget to make potential customers more aware of its product offerings d) Creating cross-functional teams and instructing them to focus on creating greater customer value e) Hiring a new product development manager

D

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

D

One facet of marketing is that it is: a) an approach that focuses on maximizing sales b) 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

D

Redefining the business mission of a mattress manufacturer as "a good night's sleep" rather than stating the mission as "the manufacture of high-quality mattresses" will: a) not stimulate an awareness of changes in consumer desires b) be too broad a statement to be of any real use in serving customers c) stifle creativity in discovering opportunities to serve customers d) help ensure the firm retains its focus on consumers e) ensure the core products will be retained

D

The owner of Maine Kitchen Art bowls, spoons, and cutting boards knows marketing can make his company a success. He wants to rely solely on promotion as the technique for attracting customers. He advertises extensively in cooking magazines and provides retailers who carry his product with attractive displays. From this information, you know that Maine Kitchen Art has a _____ orientation. a) market b) societal c) production d) sales e) product

D

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created. a) a value line b) a quality rift c) planning excellence d) customer satisfaction e) expectation satisfaction

D

Which marketing management philosophy assumes that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product? a.) Sales b.) Production c.) Product d.) Market e.) Exchange

D

Which marketing management philosophy focuses on the question, "What do customers want and need, and how can we benefit society?" a) Internal b) External c) Sales d) Societal marketing e) Production

D

Which marketing management philosophy focuses on the question, "What do customers want and need?" a.) Sales b.) Production c.) Product d.) Market e.) Internal

D

_____ gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management. a) Management-employee synergy b) Organizational entropy c) Managerial reciprocity d) Empowerment e) Delegation

D

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? 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

E

A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation. a) marketplace b) sales c) market d) exchange e) production

E

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

E

A firm that adopts a(n) _____ orientation to marketing will fail to consider whether what the firm produces most efficiently also meets the needs of the marketplace. a) customer b) exchange c) product d) market e) production

E

A newspaper ad for a hospital that states, "We have the most modern delivery rooms and state-of-the art medical equipment," is an indication of which marketing management philosophy? a) Sales b) Customer c) Market d) Societal e) Production

E

An organization with a(n) _____ believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests. a) sales orientation b) market orientation c) ethical business mission d) focused target market strategy e) societal marketing orientation

E

At www.mystarbucksidea.com, customers are encouraged to share their ideas and thoughts about how Starbucks can better serve its customers. Starbucks customers told management that they wanted to be recognized for choosing Starbucks coffee. So Starbucks instituted the My Starbucks Reward program with money-saving benefits to their Starbuck cardholders. Starbucks is an example of a company with a _____-oriented philosophy. a) transaction b) sales c) product d) society e) market

E

Barry collects antique watches and has decided to sell a few of them on eBay. Some of the watches he wants to sell are rare and very valuable. What condition is necessary for an exchange to occur between Barry and a buyer? a) His watch should have a certificate of authenticity. b) The opening bid must be lower than other watches being sold on the site. c) Buyers must provide payment before the item is shipped. d) Delivery must take place within 2 days of the purchase. e) Potential buyers must be able to see the watch and understand its qualities

E

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? a) Offering products that perform b) Earning of trust c) Avoiding unrealistic pricing d) Giving facts e) Co-creation

E

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: a) commitment selling b) transaction marketing c) transformational marketing d) marketing engineering e) relationship marketing

E

Jacques Torres Chocolate is a factory and retail store in Brooklyn. Its owner is willing to try to produce new products when his customers suggest them--such as chili-pepper-laced chocolate candy. His only condition is that when he adds new products, his customers have the final say on whether the product is of any value. According to Torres, "If something doesn't move, that's the last time you see it." By focusing on customer' wants, the chocolate company exhibits a(n)_____ orientation. a.) exchange b.) product c.) production d.) sales e.) market

E

Market-oriented firms primarily focus their efforts upon: a) improving the technological skills and competitive advantages of the firm b) satisfying the organization's needs for low overhead c) achieving the company's societal responsibilities inexpensively d) distributing goods and services e) satisfying the wants and needs of their customers

E

Marketers interested in offering customer value can: a) offer products that perform b) give the consumer facts c) offer organization-wide commitment to service and after-the-sale support d) avoid unrealistic pricing e) do all of these

E

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 World 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. a.) sales b.) empowerment c.) community d.) societal e.) market

E

The American Marketing Association's definition of marketing: 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.

E

The marketing concept stresses that the social and economic justification for an organization's existence is the satisfaction of customer needs and wants while: a.) producing a good or service at the lowest possible cost b.) improving the general standard of living c.) constantly increasing sales volumes d.) applying scientific management techniques to improve efficiency e.) simultaneously meeting organization objectives

E

What is the fundamental objective of most businesses? a) employee empowerment, teamwork, and relationship marketing b) satisfied stakeholders c) low costs and high quality d) customer loyalty and retention e) survival, profits, and growth

E

Which of the following statements about the societal orientation is FALSE? a) Companies that protect the environment by using all-natural materials in their products are showing a societal marketing orientation. b) Marketers cannot deliver all benefits sought by customers, as these benefits may not be in the long-term best interests of the customers. c) The societal marketing concept is an important refinement of the market concept. d) Organizations have both a social and economic justification for their existence. e) The majority of consumers support environmentally friendly companies and willingly paying more for these products.

E

marketing

activity of set of institution and processes for creating, communication, delivering and exhanging

sales phiolosophy

aggressive sales techniques and beliefs that high sales result and high profits

T/F: Personnel in sales-oriented firms tend to be "outward looking," focusing on selling what the market wants

false

T/F: The way to achieve customer satisfaction and value is to offer the lowest price

false

T/F: 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

false

T/F: 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

market philosophy

satisfying customer needs and wants while meeting objectives