MARKETING - CHAPTER 1

production; marketing

A ____ orientation focuses on making products that are easy to produce and then trying to sell them, while a ____ orientation focuses on trying to offer customers what they need, rather than getting them to buy what the firm produces.

responsibility

A company that strives to have an overall positive effect on society is a company that practices social ______.

usually part of an ongoing relationship

A marketing exchange is ______.

- Signing popular athletes to endorse products - Innovative new products

According to the Nike case, which of the following are among the keys to Nike's success?

production orientation

According to the ______ of management, a company needs to focus on making the products it can readily make, not on trying to serve its customers first.

Build long-term relationships with customers

According to this case, Nike introduced its Nike+ apps for smartphones in part to:

macro-micro dilemma

An electric utility produces low-cost electricity, but produces a great deal of air pollution in the process. This is an example of ______.

the micro-macro dilemma

An electric utility produces low-cost electricity, but produces a great deal of air pollution in the process. This is an example of ______.

Marketing helps production by determining which goods or services should be produced.

How should marketing and production work together?

1) Zappos attracts more customers 2) Zappos satisfies its customers 3) Zappos keeps more of its customers 4) Zappos increases sales to its present customers 5) Zappos builds profitable customer relationships

If online shoe retailer Zappos offers superior customer value, what is the sequence of benefits Zappos can hope to obtain? Start with the first benefit Zappos will attain after it offers superior customer value.

marketing

In general, a(n) ______ orientation is focused on offering customers what they need rather than getting customers to buy what is available for sale.

innovation

In most markets, competition fosters ______.

can be a challenge because support may not come directly from satisfied "customers"

In nonprofit organizations, the marketing concept ______.

- honesty - fairness

In terms of ethics, most businesspeople take into account ______ when making decisions.

- Chemical producers - Electric utilities

In which of the following industries would you be less likely to see firms utilizing the marketing concept because they do not have much competition?

marketing

K2 is a company that makes snow skis. The job of predicting the styles, sizes, and colors of skis that K2 customers will want to buy next year is primarily the responsibility of which of the following?

ethic

Marketing ____ are the moral standards for making marketing decisions and actions.

- Entrepreneurs - Charities - Political parties

Marketing ideas are used to promote which of the following?

two or more parties be willing to engage in an exchange

Marketing requires that ______.

innovation

Marketing spurs _____, which means coming up with new ideas, goods, and services.

it will help you to promote yourself

Marketing will be beneficial to you, as a student, because _____.

coordinates with production, accounting, and financial activities.

Marketing will be most successful if it:

- Customer service is required only to handle and reduce customer complaints. - Advertising emphasizes product features. - The company sells whatever product offering it is able to produce.

Which of the following reflect how a company adopting a production orientation would operate?

- Marketing builds relationships with customers. - Marketing is more than just persuading customers.

Which of the following statements about marketing are correct?

- Marketing can help in selling your ideas in a new job. - Marketing can help in getting a job.

Which of the following are reasons why marketing can be important for future employment?

- Competition motivates firms to offer lower prices. - Firms that make products customers want will likely create more jobs and hire more people. - Marketing fosters innovation.

Which of the following are reasons why marketing is important to economic growth and development?

- Transparency - Responsibility - Respect - Fairness - Citizenship - Honesty

Which of the following are specific ethical values from the American Marketing Association Code of Ethics?

- Profit (or another measure of long-term success) - Customer satisfaction - Total company effort

Which of the following are the basic ideas central to the marketing concept?

- From a macro view, as a function of society - From a micro view, as a function carried out by companies

Which of the following are the basic ways of viewing marketing?

marketing ethics

Which of the following are the moral standards for marketing activities?

- Nonprofits face competition for the resources and support they need. - Nonprofit organizations should have an agreed-upon measure of long-run success.

Which of the following are true statements about the marketing concept and nonprofit organizations?

- Marketing involves a willingness of at least two parties to engage in exchange. - Sellers offer to exchange something that meets a need.

Which of the following are true with respect to exchange in marketing?

- Marketing starts with the potential needs of customers. - Marketing investigates what the future needs of customers might be.

Which of the following are true with respect to marketing and production?

marketing

Which of the following involves meeting the goals of an organization by anticipating customer needs and ensuring that the organization's products or services can help satisfy those needs?

revenue

Which of the following is an example of marketing metrics?

Marketing reduces discrepancies of assortment.

Which of the following is not a criticism of marketing?

prosperity

Which of the following is not an ethical value advocated in the American Marketing Association Code of Ethics?

production efficiency

Which of the following is not central to the marketing concept?

Only the marketing department should satisfy customers.

Which of the following is not in the circular model that leads to building superior customer relationships?

It should take control of production, accounting, and finance in order to be more effective.

Which of the following is not true about marketing?

- A firm that creates customer value that is superior to its competition is likely to retain customers. - A firm offering better values than its competition is likely to acquire new customers.

Which of the following is true about competition and customer value?

- A nice sea-view room - Free transportation to and from the airport - A complementary drink in the hotel lobby

Which of the following might be considered benefits to a person going on a vacation to Hawaii?

marketing orientation

Which of the following refers to the attempt of a company to realize its marketing concept and give customers what they need?

social responsibility

Which of the following refers to the duty a company has to be beneficial to its overall community while trying to avoid any harmful effects?

The micro-macro dilemma

Which of the following refers to the fact that there may be a conflict between what is beneficial to specific companies and society as a whole?

Marketing concept

Which of the following refers to the idea that a company should focus entirely on satisfying customers and do so profitably?

customer value

Which of the following refers to the relative benefit that a customer believes he or she gets from a product or service compared to the cost of obtaining it?

- Marketers must do no harm. - Marketers must help build trust in the marketing system. - Marketers must fully support ethical values.

Which of the following reflect ethical norms outlined in the American Marketing Association's Statement of Ethics?

- Marketing concepts can help "sell" yourself to a potential employer. - Marketing offers many interesting jobs.

Which of the following statements are true about the usefulness of studying marketing? (Check all that apply.)

- Government agencies can be customers of nonprofit organizations. - The marketing objective for a nonprofit organization may be to increase membership. - The clients of a nonprofit organization may be consumers or business firms.

Which of the following statements are true with respect to marketing and nonprofit organizations?

- Ethics can vary from one society to another. - Marketing ethics guide marketing decisions. - A person's ethics emerge from that person's own values.

Which of the following statements are true with respect to marketing ethics?

Everyone in the organization thinks about how to satisfy customers.

Which of the following statements reflects the behavior of a firm practicing the marketing concept?

- Attracting new customers and satisfying them - Having all relevant parts of a firm working together to solve customers' problems

Which of the following will help firms build relationships with customer value?

- Interest charges to finance the car - The price they pay - Waiting three weeks for delivery

Which of the following would likely be considered costs, as opposed to benefits, to people purchasing a new car?

- Offering better-tasting meals - Delivering orders faster - Lowering prices

Which of the following would represent ways to increase value for Taco Bell customers?

Marketing involves more than just selling or advertising.

Which one of the following statements describing marketing is correct?

- The restaurant makes what customers are interested in ordering. - Customer needs determine how the restaurant operates. - Restaurant management tries to identify unmet customer needs.

Which three of the following reflect how a restaurant adopting a marketing orientation would operate?

innovation

______ is the creation and adoption of new ideas, goods, and services.

marketing

______ will help firms offer new and better ways to satisfy customers' needs which, in turn, can increase their standard of living.

Marketing orientation

"Customers are there for us to discover and meet their needs."

Production orientation

"Customers are there to buy our products."

- Determining the prices and styles of backpacks sold by competing firms - Deciding on a promotion to inform potential customers about - Carry-All backpacks - Choosing retailers that will sell the backpacks - Analyzing student preferences for colors and styles

Carry-All is a company that makes backpacks for students to use for carrying books. Which of the following activities would be part of the marketing for Carry-All? (Check all that apply.)

- Marketing exploits the poor. - Marketers over-promise service., - The quality of the product is unsafe and poor.

Criticisms of marketing include ______.

value

Customer ____ refers to the relative benefit that a customer believes he or she gets from a product or service compared to the cost of obtaining it.

potential customer needs

Effective marketing should start with:

honesty; responsibility

Fairness and ____ are core ethical values.

marketing

Production involves making goods, while ____ makes sure that the right products are produced and offered to consumers.

triple bottom line

Some companies explicitly consider a ______, which measures an organization's economic, social, and environmental outcomes as a measure of long-term success.

pure subsistence economy

The Smith family is totally self-sufficient and produces everything it consumes. The Smith family would be typical of a ______.

macro-micro

The ____-____ dilemma refers to the fact that what benefits specific companies and their customers may not benefit all of society.

marketing concept

The ______ is based on the idea that everything a company does should be based on satisfying the company's customers while still making a profit.

production

The ______ orientation refers to the managerial point of view that a company first makes the products that it wants to make and then the company needs to find the customers to buy the products.

micro

The ______ view of marketing is concerned with marketing as performed by individual companies.

marketing

The activities in a firm that try to identify customer needs and focus the flow of goods or services in the firm in order to meet those needs is called

value

The concept of customer ______ is the difference between the benefits a customer sees from a marketing offer and the costs of obtaining those benefits.

satisfaction

The degree to which a company can meet the needs, desires, and expectations of its customers is called customer ______.

marketing ethics

The moral standards that guide marketing decisions and actions are called

marketing metrics

The numeric data that marketing managers use to evaluate how well a marketing program performed based on intended goals are called ______.

customer satisfaction

The part of marketing that involves fulfilling the desires and expectations of customers is called ______.

a pure substinence economy

The system in which each family produces everything it consumes is called ______.

production

The term "______" refers specifically to manufacturing goods or performing services.

- Performing services - Making goods

The term production refers to which of the following? (Check all that apply.)

- build an ongoing relationship with the customer. - determine future production needs.

The two goals of a marketing exchange are to:

- provide direction for production and finance. - interpret customer's needs.

To be most effective, marketing should:

- Because marketing costs can be an important part of a product's price, we should know what we are paying for. - Marketing helps ensure that the things we buy are available when we need them. - We are all consumers, so we should learn about buying and selling.

Which of the following are reasons for studying marketing? (Check all that apply.)

true

True or false: For some goods and services, the cost of marketing accounts for about half of what the consumer pays for them.

false

True or false: Management-oriented micro-marketing skills are only important to those who want to manage a major corporation.

false

True or false: Marketing today consists of just selling and advertising.

false

True or false: The National Cancer Society is an example of an organization that does not need to use marketing.

- Social outcomes - Economic results - Environmental impact

What three things are measured when considering a company's triple bottom line?

total company effort

When everyone in the company focuses on attaining customer satisfaction, this reflects a ______.

- Helping you to be more effective in your job - Giving you ideas about how to sell your ideas in a new job - Seeing how marketing relates to a variety of human activities

Which of the following are benefits of having an understanding of marketing?

- Changing a production procedure to reduce the number of defective parts - Efforts by delivery personnel to increase customer satisfaction

Which of the following are examples of how a firm can build relationships with customer value?

- Should the Consumer Product Safety Commission recommend banning skiing and snowboarding because about 40 people are killed each year while doing it? - Should Frito Lay produce snacks that are healthier but less tasty? - Should a power company increase its use of wind power—which might cut its profits? - Should Ford Motor Company produce safer but more expensive cars?

Which of the following are examples of questions raised by the issue of social responsibility?

- A mortgage firm lobbies to have less regulation of its industry. - A motorcycle manufacturer can make a safer bike, but it will double the price. - A magazine prints on recycled paper that raises printing costs. - A doctor's office offers unnecessary medical tests.

Which of the following are examples of social responsibility issues that a marketing manager might face?

- Many motorcycle riders do not want to wear helmets, but their injuries may be paid for by all with higher health insurance premiums. - Starbucks coffee cups keep the coffee hot but are not biodegradable or good for the environment.

Which of the following are examples of the micro-macro dilemma?

- Industries where customers see most sellers as similar - Industries with few competitors

Which of the following are industries in which the marketing concept is less commonly practiced?

- Analyzing customer needs - Forecasting future sales - Predicting the styles that will appeal to customers - Determining what the competition charges for similar products

Which of the following are part of marketing? (Check all that apply.)