Marketing CH.1 concept quiz

Which of the following are true of marketing? Check all that apply. A. It involves building long-term, mutually beneficial relationships. B. It is a philosophy or perspective that stresses customer satisfaction. C. It focuses solely on selling the goods, services, or ideas that the company produces. D. It entails processes that focus on delivering value and benefits to customers.

A. It involves building long-term, mutually beneficial relationships. D. It entails processes that focus on delivering value and benefits to customers

When someone gives up something in order to receive something else they would rather have, it is called: A. an exchange. B. a substitute. C. a transaction. D. a purchase.

A. an exchange.

Which of the following is a reason for firms to adopt a societal marketing orientation? a. The urge to earn more profits b. Growing environmental concerns c. Low profits from sustainable development d. The increased use of green marketing

B. Growing environmental concerns

A production orientation philosophy focuses on A. choosing the best promotional strategy. B. assessing the resources of a firm. C. adopting aggressive pricing strategies for a firm's products. D. advertising a product aggressively.

B. assessing the resources of a firm.

In the context of marketing management philosophies, a sales orientation aims at a. integrating all organizational activities to satisfy customer wants. b. pushing manufacturers' products more aggressively to achieve high profits. c. understanding the needs and wants of the marketplace. d. assessing the internal capabilities of a firm.

B. pushing manufacturers' products more aggressively to achieve high profits.

Which of the following is the definition of marketing? A. The practice of persuading or seeking to persuade a consumer or organization to purchase a product or service. B. The methods employed by a firm to demonstrate to consumers a product or service's value. C. 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. D. The process of communicating through various print and online media in order to notify the public about a

C. 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.

All of the following are conditions of an exchange except: A. at least two parties are required. B. each party has something that might be of value to the other party. C. each party is free to accept or reject the exchange offer. D. money is the medium of exchange.

D. money is the medium of exchange.

Which of the following statements is a difference between a production orientation and a sales orientation? a. A production orientation focuses on the internal capabilities of a firm, while a sales orientation focuses on increasing a firm's profits by using aggressive advertisements. b. A production orientation focuses on using aggressive techniques to gain customers, while a sales orientation focuses on a firm's resources to build a better product. c. A production orientation displays a lack of understanding of the marketplace, while a sales orientation has a good understanding of the needs and wants of the marketplace. d. A production orientation endorses marketing as a means of selling things and collecting money, while a sales orientation endorses marketing as a means of fulfilling a firm's short-term goals. Hide Feedback

a. A production orientation focuses on the internal capabilities of a firm, while a sales orientation focuses on increasing a firm's profits by using aggressive advertisements.

Which of the following statements is true of production-oriented firms? a. These firms survive and prosper where competition is weak. b. These firms predominantly focus on the needs of customers. c. These firms consider whether the goods produced meet the needs of the marketplace. d. These firms fail in a market where demand exceeds supply.

a. These firms survive and prosper where competition is weak.

Which of the following statements is true of firms that succeed in competitive markets? a. They first determine what customers want and then produce it. b. They hope that the product they produce is something that customers want. c. They focus on what the management thinks should be produced. d. They believe that using aggressive sales techniques are sufficient to gain high profits.

a. They first determine what customers want and then produce it.

Studying marketing is important because: a. regardless of your major, it is important to have a basic understanding of all business areas. b. marketers earn higher salaries than other business areas. c. marketing contributes directly to a company's profits and growth. d. it allows students to become better informed citizens.

a. regardless of your major, it is important to have a basic understanding of all business areas. d. it allows students to become better informed citizens.

In the context of relationship marketing, which of the following statements is true of employees who are empowered? a. They lack the power of solving customer problems. b. They develop ownership attitudes. c. They refrain from dealing directly with customers. d. They tend to take less risks.

b. They develop ownership attitudes.

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as: a. an exchange. b. customer value. c. sacrifice.

b. customer value.

A production orientation philosophy A. overlooks the internal capabilities of an organization. B. does not consider whether the goods and services that a firm produces most efficiently meet the needs of the marketplace. C. is based on the belief that people will buy more goods and services if aggressive sales techniques are used irrespective of their needs. D. does not apply to services.

b. does not consider whether the goods and services that a firm produces most efficiently meet the needs of the marketplace.

Shelby is looking to purchase a new car. She knows from her marketing class, that she should research the different models she is interested in and evaluate the alternatives before making such a large purchase. This demonstrates which reason to study marketing? a. Marketing is important to businesses b. Marketing offers outstanding career opportunities c. Marketing is part of everyday life d. Marketing plays an important role in society

c. Marketing is part of everyday life

Which of the following statements is true regarding companies engaged in relationship marketing? a. They are focused on developing a competitive advantage. b. They are focused on increasing sales volume. c. They are focused on improving rapport with current customers. d. They are focused on attracting new customers.

c. They are focused on improving rapport with current customers.

A company that produces running shoes specifically for customers with low arches, utilizes a market-orientation approach and likely: a. focuses on selling what the company makes rather than making what the market wants. b. uses personal selling as a primary means of generating sales. c. employs customer relationship management strategies. d. defines its business in terms of the goods and services it offers.

c. employs customer relationship management strategies.

Which of the following activities is not correct about the marketing concept? a. Implementing effective and high-quality sales techniques to sell goods and services. b. Integrating all the organization's activities to satisfy customer wants. c. Satisfying customer wants and needs legally and responsibly. d. Focusing on internal capabilities rather than on customer wants and needs.

d. Focusing on internal capabilities rather than on customer wants and needs.

In the context of relationship marketing, which of the following statements is true of empowerment? a. It refers to getting trained in customer service as an employee of a firm. b. It refers to working together as cooperators instead of competitors. c. It refers to the innate ability of building relationships with customers. d. It refers to having the authority to solve customer problems on the spot.

d. It refers to having the authority to solve customer problems on the spot.

In the context of a sales orientation, which of the following statements is true of marketing? a. Marketing is concerned with customer wants and needs while meeting organizational objectives. b. Marketing is concerned with achieving customer satisfaction using minimal advertising. c. Marketing is concerned with focusing on customer relationship management. d. Marketing is concerned with selling things and collecting money.

d. Marketing is concerned with selling things and collecting money.

The _____ is the idea that an organization exists not only to satisfy customer wants and needs but also to preserve individuals' long-term best interests. a. sales orientation b. promotional orientation c. production orientation d. societal marketing orientation Hide Feedback

d. societal marketing orientation