Chapter 5

12) Which of the following concepts holds that consumers will favor products that are available and highly affordable? A) the marketing concept B) the product concept C) the societal marketing concept D) the selling concept E) the production concept

E

14) The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features. A) societal marketing B) marketing C) selling D) production E) product

E

18) The selling concept holds that ________. A) consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts B) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests C) consumers will only favor products that are available and highly affordable D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do E) consumers will favor products that offer the most in quality, performance, and innovative

A

2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges

A

21) The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. A) marketing B) product C) production D) selling E) societal marketing

A

19) The selling concept is typically practiced with ________. A) industrial products B) unsought goods C) specialty products D) convenience products E) essential goods

B

22) Which of the following concepts is based on a customer-centered philosophy? A) the product concept B) the marketing concept C) the production concept D) the selling concept E) the distribution concept

B

1) According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy

D

10) GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________. A) mass distribution B) cost leadership C) consumer-generated marketing D) target marketing E) undifferentiated marketing

D

6) Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________. A) consumers' brand experiences B) competitors' threats C) consumers' existing wants D) competitors' strengths E) consumers' future demands

C

20) Which of the following is a difference between the marketing concept and the selling concept? A) The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. B) The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers. C) The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective. D) The marketing concept is product-centered, whereas the selling concept is production-centered. E) The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships.

A

3) ________ are the form human needs take as they are shaped by culture and individual personality. A) Wants B) Necessities C) Services D) Benefits E) Risks

A

24) Directing consumers toward products and services that meet their present and future needs is referred to as ________ marketing. A) customer-driven B) customer-driving C) societal D) production E) product

B

4) When backed by buying power, wants become ________. A) needs B) demands C) offerings D) values E) ideas

B

13) The production concept holds that ________. A) consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort B) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests C) consumers will favor products that are available and highly affordable D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do E) consumers will favor products that offer the most in quality, performance, and innovati

C

5) Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________. A) need B) value C) demand D) offering E) desire

C

8) Dividing a market into several sections of customers is known as ________. A) mass customization B) market positioning C) market segmentation D) value engineering E) undifferentiated marketing

C

11) A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs. A) dominant effect B) fringe benefit C) perquisite D) value proposition E) dividend yield

D

15) Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept

D

16) According to the product concept, a company should ________. A) make products that contribute to the long-term welfare of society B) market only those products that have high customer appeal C) focus on a target market and make products that meet those customers' demands D) devote its energy to making continuous product improvements E) make product promotion a top priority

D

17) Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept

D

23) Customer-driven marketing is most effective when ________. A) a clear need exists among customers, but the need is difficult to identify B) customers do not know what they want but are easily persuaded C) customers seek new products and technological innovations D) clear needs exist and customers know what their needs are E) customers have wants but cannot afford them

D

7) ________ is the act of obtaining a desired object from someone by offering something in return. A) Targeting B) Segmentation C) Differentiation D) Exchange E) Positioning

D

9) Selecting particular segments of a population of customers to serve is called ________. A) process reengineering B) brand synchronizing C) mass customizing D) target marketing E) market positioning

D