Exam 1: An Introduction to Marketing

What is the philosophy of the marketing concept and market orientation? What three key areas are involved in the implementation of the marketing concept and a market orientation?

Nurture-U is an organic and natural beauty brand. It manufactures a varied stock of skin and environment-friendly products. It believes that the environment should be protected for future generations. The company is against the use of animal products and uses plant extracts. What type of orientation does Nurture-U have?

To increase interest in rodeos, the localChapter of the National Rodeo Cowboys Association (NRCA) is offering free roping lessons to students in grades 6 and 7. Which of the following best describes an exchange?

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.

The computer market can be divided in to laptops, personal computers, mainframes, and tablets. This market can also be broken down by the types of users who will use each of these types of devices. What is this process of dividing markets called?

Levi Strauss has developed a line of jeans that does not use any chemical dyes to colour the pants. Consumers like the look of the jeans, and Levi's use of all-natural dyes is good for the environment. The production of this line would be consistent with which type of orientation?

Which is a major weakness of promotion?

An entrepreneur has set up a company to manufacture and market GPS systems for hunters. He has decided a sales orientation would best suit his new company. What are important considerations for this firm when it adopts this orientation? What are potential problems of this orientation the owner needs to understand?

How does marketing develop your personal skill set and help you in your job search?

Marketing is a job that should be handled by marketers. People in management, accounting, and finance should focus on their own specialties.

A company's interaction with a customer can be evaluated by which of the following?

Which of the following strategies are put into place by a company that has a market orientation?

All companies, from global to regional consultants, need to be consumer focused.

Exchange is the key concept in the definition of marketing. What is the concept of exchange? What are the five conditions of exchange that must be satisfied for exchange to occur?

How is marketing important to business?

What is created when customer expectations regarding product quality, service quality, and value-based price are met or exceeded?

What is customer satisfaction?

The manufacturer of Omega brand watches has a market orientation and follows the marketing concept. Which of the following describes the first action the company would most likely take if it learned its customers were dissatisfied with its watches?

Which of the following strategies is most closely associated with the societal marketing orientation?

A market-oriented organization may choose not to deliver the benefits sought by customers because these benefits are not in the best interests of the individual or society. This is termed the societal orientation. What does this concept mean in terms of organizational justification? List three current issues where the societal orientation concept may need to be applied.