Deck 15: Note : the Marketing Concept

Question 1

Which of the following firms adhered to a managerial orientation during the early twentieth century?

A) Proctor & Gamble
B) Pillsbury
C) Kellogg's
D) Ford

Answer 1

D

Question 2

When backed by buying power,wants become ________.

A) demands
B) exchanges
C) social needs
D) self-esteem needs

Answer 2

A

Question 3

During the production era of the early twentieth century,the supply of goods exceeded consumer demand,so efficient manufacturing processes were required to maintain profitability.

Answer 3

False

Question 4

A lonely consumer who is too busy meeting critical needs to think about having a social life most likely has a(n)________.

A) motive
B) latent need
C) apparent want
D) unrecognized want

Question 5

All of the following are accurate descriptions of a market orientation,EXCEPT which one?

A) Marketing creates value for customers.
B) Marketing involves satisfying customers' needs.
C) Marketing requires conducting extensive market research.
D) Marketing involves managing profitable customer relationships.

Question 6

________ are human needs as shaped by individual personality and culture.

A) Exchanges
B) Values
C) Demands
D) Wants

Question 7

The ________ orientation of the mid-twentieth century led firms to focus on "making marketable products."

A) sales
B) customer
C) strategic
D) managerial

Question 8

What is the marketing concept? How do firms benefit from having a market orientation?

Question 9

Managerial philosophies that determine corporate priorities and problem-solving methods are referred to as ________.

A) functions
B) resources
C) orientations
D) benchmarks

Question 10

In most cases,firms evolve from a production focus to a market focus.

Question 11

Henry Ford's sales orientation focused on meeting the specific needs of customers,which enabled the firm to prosper.

Question 12

According to research,all of the following are typical results for firms with a market orientation EXCEPT ________.

A) natural monopolies
B) stock returns
C) profitability
D) ROI

Question 13

According to the ________,firms will successfully achieve their goals if they focus on satisfying consumers' needs.

A) marketing concept
B) progressive sales approach
C) market gain technique
D) executive orientation method

Question 14

A firm with a market orientation most likely coordinates its strategies and activities around ________ and ________.

A) sales; profits
B) market share; quality
C) employees; consumers
D) customers; competitors