Exam 1: An Overview of Marketing

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:

What is the marketing concept? According to the marketing concept,what determines if a sale will actually occur?

Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used?

All of the following are necessary for exchange to occur EXCEPT:

Which marketing management philosophy is often adopted by organizations that sell unsought products such as life insurance,retirement plans,and preplanned funeral services?

A market-oriented organization targets its products at:

Starbucks Loyalty Rewards The first Starbucks opened in 1970 in Seattle,Washington.The demand for its coffee grew,and Starbucks added more than 6,000 stores located in over 30 countries.In its more than 30-year history,Starbucks has never given out coupons for its coffee.Starbucks needed only to make its coffee and customers came.Recently,consumer quality perception of the Starbucks brand has started to fall.Starbucks started a consumer response blog to learn more about what consumers expect from Starbucks.One of the most common requests was for a customer rewards program.In response,Starbucks started My Starbucks Rewards,which offers free refills on brewed coffee,free beverage with whole bean purchase,beverage customization,and free Wi-Fi.Starbucks also put coupons in a national newspaper for those consumers who love coupons and created a new brew of coffee for those who prefer a milder coffee taste.Starbucks is hoping that these improvements will restore customers' loyalty and confidence. -Refer to Starbucks.Starbucks customers wanted more value from their coffee.Starbucks management responded to customers through the Starbucks card rewards program.Which element of value was Starbucks management working to increase?

One facet of marketing is that it is:

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 sales-oriented firm defines its business (or mission)in terms of:

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

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.

All of the following are basic marketing mix decisions EXCEPT:

Western Union failed to define its competitive arena as telecommunications,concentrating instead on telegraph services,and was eventually outflanked by fax technology.Had Western Union been a _____-oriented company,its management might have better understood the changes taking place and developed strategies to counter the threat.

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:

Which of the following statements about a typical sales-oriented business is TRUE?

What is the fundamental problem with a sales orientation? Explain your answer.

The Natural Marketing Institute has identified a number of trends that are now becoming American consumer values.Since Twix's main market is the U.S. ,which trend(s)should Nestlé consider in both the marketing and production of its candy bars.

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

The sales and market orientations differ on all of the following characteristics EXCEPT: