Question_CHAP01_9Dec

Question # 00004956 Posted By: smartwriter Updated on: 12/08/2013 02:11 PM Due on: 12/31/2013
Subject Business Topic General Business Tutorials:
Question
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1. Marketing is defined as producing, promoting, and selling products.
2. According to the American Marketing Association, marketing is the activity, set of
institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for cus-tomers, clients, partners, and society at large.
3. An exchange cannot take place unless each party in the exchange has something that the
other party values.
4. Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to
the intro-duction, 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 ex-ample, Sara Lee is a good example of a production-oriented company.
5. 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.
6. 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.
7. The societal marketing concept considers society's long-term best interests along with the
satisfaction of customers' wants and needs.
8. The focus of a production-oriented firm is on what it can make or do best.
9. Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what
the market wants.
10. Customer value is the relationship between company profits and company costs.
11. The way to achieve customer satisfaction and value is to offer the lowest price.
12. 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 pro-vides direct sales consultations that gives its salespeople intimate
knowledge about what exactly its customers want. This partnership between 3D Systems
and its customers entails relationship market-ing.
:
13. Only a firm's salespeople need to be customer-oriented.
.
14. Retailers who give their sales clerks the authority to handle customer complaints without
having to get approval from a supervisor are using empowerment.
15. 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 af-fordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm.
.
16. The ultimate goal of most market-oriented firms is profitability that results from satisfying
the wants and needs of its consumers.
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17. While most marketing organizations rely on various forms of promotion to succeed, sales-oriented or-ganizations make the most effective use of their entire marketing mix.
.
18. 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.
19. Marketing is important to business, so marketing should be part of the job of everyone in
the organiza-tion, not just those in marketing.
20. Approximately 50 percent of the U.S. civilian work force performs marketing activities.
MULTIPLE CHOICE
1. One facet of marketing is that it is:
a. an approach that focuses on maximizing sales
b. a 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
2. A business is concerned with many day-to-day activities. Some of the most important of
these activi-ties are the planning and development of a product, its pricing policy, and the
distribution strategy. These activities are all a part of:
a. a control system
b. marketing
c. accounting
d. production
e. human resources
3. _____ is a set of activities used to implement a management orientation that stresses
customer satisfac-tion.
a. Planning strategy
b. Customer management
c. Marketing
d. A control system
e. Reciprocity
4. 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.
5. Which of the following occurs when people give up something in order to receive something
that they would rather have?
a. Exchange
b. Synergy
c. Transformation
d. Leveraging
e. Reciprocity
6. 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
.
7. A problem facing the timber industry is the absence of any effective way to prove that rain
forest tim-ber was legally harvested. In places like Indonesia as much as 80 percent of
timber available for sale was 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 condi-tions 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.
8. Kellogg’s is offering free DVDs to consumers who collect 5 official Collection certificates
from the back panels of specially marked packages of Kellogg’s cereals and 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
9. 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
10. The concept of exchange is important to marketing because:
a. if 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
11. Barry collects antique watches and 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 be-tween 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.
.
12. 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
.
13. 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
.
14. 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
.
15. 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
16. Researchers at PPG Industries spent considerable time, effort, and money developing a bluish
wind-shield 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
.
17. 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
18. 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
19. A firm that adopts a(n) _____ orientation to marketing will fail to consider whether what the
firm pro-duces most efficiently also meets the needs of the marketplace.
a. customer
b. exchange
c. product
d. market
e. production
20. 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 and not on what customers wanted from a
vehicle. GM had more of a _____ orien-tation.
a. sales
b. production
c. market
d. product
e. customer
21. The _____ orientation assumes people will buy more if aggressive selling techniques are used.
a. market
b. sales
c. customer
d. production
e. exchange
.
22. 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 ex-panded 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 work force.
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
23. Which marketing management philosophy is often adopted by organizations that sell unsought
prod-ucts such as life insurance, retirement plans, and pre-planned funeral services?
a. sales orientation
b. production orientation
c. marketing orientation
d. product orientation
e. customer orientation
24. Which marketing orientation assumes people will buy more goods and services if
aggressive market-ing techniques are used?
a. sales
b. production
c. market
d. customer
e. marketplace
.
25. 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 jew-elry 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
26. 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
27. Fujifilm Computer Products has improved the efficiency and productivity of its plant,
which manufac-tures 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 ap-pears to have a _____ orientation.
a. market
b. production
c. sales
d. customer
e. marketplace
28. 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
.
29. 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
30. At www.mystarbucksidea.com customers are encouraged to share their ideas and
thoughts about how Starbucks can better serve their customers. Starbucks customers told
management that they wanted to be recognized for choosing Starbucks coffee. So Starbucks
instituted the Starbucks Reward program with money saving benefits to their Starbuck card-holders. Starbucks is an example of a company with a _____ oriented philosophy.
a. transactional
b. sales
c. product
d. societal
e. market
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Tutorials for this Question
  1. Tutorial # 00004743 Posted By: smartwriter Posted on: 12/08/2013 02:13 PM
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