Deck 1: An Overview of Marketing

Question 1

A firm would benefit from production orientation when _____.

A)​it considers the needs of the marketplace
B)the market demand is less than the products supplied by the firm
C)it hopes that the product it produces is something customers want
D)​it focuses on what company management thinks should be produced

Answer 1

 A

Question 2

Which of the following statements is true of marketing?

A)​It is more of a philosophy rather than an organization function.
B)It is focused on just selling goods, services, and/or ideas.
C)It rewards the seller and not the buyer of a transaction.
D)​It focuses on delivering value and benefits to customers.

Answer 2

 D

Question 3

The sales orientation extends the marketing concept by acknowledging that some products that customers want may not really be in their best interests or the best interests of society as a whole.

Answer 3

 True

Question 4

Which of the following is a sales-oriented organization?

A)​Fournotts Corp. that produces what the company management thinks should be produced
B)Magnira Corp. that understands the needs and wants of the marketplace
C)Fillets Inc. that believes in the philosophy that aggressive sales techniques can result in high sales
D)​Laelle Inc. that believes that a sale is based on a customer's decision to purchase a product

Question 5

Relationship marketing assumes that many consumers and business customers prefer to switch relationships among different organizations rather than continuing with just one provider.

Question 6

A market-oriented organization states that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives.

Question 7

Which of the following is a drawback of the sales-orientation philosophy?

A)​It gives excessive importance to the needs and wants of the marketplace.
B)It cannot convince people to buy goods that are neither wanted nor needed.
C)It places little emphasis on the assessment of manufacturing plants and facilities.
D)​It gives importance to the production function over other functions.

Question 8

Identify a true statement about production-oriented firms.

A)​They do not focus on their internal capabilities.
B)They lack an understanding of the needs and wants of the marketplace.
C)They focus on their customers and have quick cycle times.
D)​They determine what products their customers want and then produce them.

Question 9

Marketing career opportunities do not exist in nonbusiness organizations.

Question 10

In the context of marketing,an exchange refers to people giving up something in order to receive something else they would rather have.

Question 11

A market-oriented organization focuses on making products identical to its competitors' offerings.

Question 12

A market-oriented organization targets its products at "everybody" or "the average customer."

Question 13

Teamwork entails collaborative efforts of people to accomplish common objectives.

Question 14

Which of the following is a similarity between a production orientation and a sales orientation?

A)​Both ignore the importance of assessing a firm's internal capabilities.
B)Both lack an understanding of the needs and wants of the marketplace.
C)Both place little emphasis on the assessment of manufacturing plants and facilities.
D)​Both fail in a market where demand exceeds supply.

Question 15

The management of Leyton Electronics Inc.always favors market orientation over the other marketing management philosophies.In this case,which of the following is most likely to be true of Leyton Electronics Inc.?

A)​Leyton Electronics Inc. overlooks the importance of market research.
B)Leyton Electronics Inc. manufactures products that are similar to its competitors' offerings.
C)Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly.​
D)​Leyton Electronics Inc. lacks an understanding of its competitors' strengths and weaknesses.

Question 16

Researchers at Fresnas Inc.invented a new form of glass that filters harmful rays of sunlight and blocks heat.Without researching the market conditions,Fresnas Inc.went ahead and manufactured windshields with the new glass.It hopes that customers will like its new product.In this scenario,Fresnas Inc.has adopted a _____.

A)​sales orientation
B)production orientation
C)​market orientation
D)​societal marketing orientation

Question 17

Which of the following statements is true of the marketing concept?

A)​It states that an organization should satisfy customer wants and needs while meeting organizational objectives.
B)It overlooks the importance of understanding the competitive arena and strengths and weaknesses of competition.
C)It states that firms should give maximum importance to aggressive promotional and advertising activities.
D)​It states that marketing solely means selling things and collecting money.

Question 18

Which of the following statements is true of a sales orientation?

A)​Consumers can be convinced to buy goods or services even though they do not need them.
B)The needs and wants of the marketplace is thoroughly understood.
C)Sales-oriented firms give maximum emphasis to society's long-term best interests.
D)​Intermediaries are encouraged to push manufacturers' products aggressively.

Question 19

A local grocer groups his customers into specific groups based on what they buy and when they shop.The grocer then schedules shipments of specific items based on these customer segments and offers different promotions to different customer groups.This is an example of customer relationship management.

Question 20

A production-oriented firm focuses on satisfying customer wants and needs.

Question 21

Which of the following is used in customer relationship management?

A)​Sales-orientation philosophy
B)Production-oriented philosophy
C)Communicator valence
D)​On-demand marketing

Question 22

List and define four marketing management philosophies.

Question 23

A firm that extensively uses relationship marketing strategies is most likely to:

A)​focus on the internal rather than the external business environment.
B)rely on aggressive sales strategies.
C)focus on short-term goals of increasing sales.
D)​encourage teamwork among employees.

Question 24

Which of the following statements is true of customer relationship management?

A)​It involves linking all processes of a company from its customers through its suppliers.
B)It tries to convince potential customers to buy, even if the seller knows that the customer and the product are mismatched.
C)It is used more by sales-oriented firms than market-oriented firms.
D)​It is most extensively used by production-oriented firms.

Question 25

Which of the following statements is true of a sales-oriented firm?

A)​It carefully identifies market segments.
B)It extensively uses relationship marketing strategies.​
C)It extensively uses personal selling and advertising.​
D)​It increases sales by creating customer value and satisfaction.

Question 26

Unlike a market-oriented firm,a sales-oriented firm:

A)​puts customers at the center of its business.
B)focuses on relationship marketing strategies.
C)gives little emphasis to promotion activities.
D)​targets its products at the average customer.

Question 27

Briefly discuss the concept of marketing.

Question 28

A market-oriented firm defines its business in terms of:

A)​the benefits its customers seek.
B)goods and services.
C)minimal promotion for high-quality products.
D)​targeting the average customer.

Question 29

Define customer value and ways to provide customer value.

Question 30

Which of the following statements is true of marketing?

A)​A consumer does not pay for the marketing costs.
B)Marketing offers great career opportunities in business and nonbusiness organizations.
C)Only two percent of the entire civilian workforce in the U.S. performs marketing activities.
D)​Marketing is limited to the people of the marketing department of a firm.

Question 31

Livin' Styles is a home décor company well-known for its varieties of designs.The management of Livin' Styles collaborates with its customers and co-creates designs.This is an example of _____.

A)​following sales orientation
B)focusing on environmental value
C)delegating authority
D)​creating customer value

Question 32

Nessca Corp.manufactures electronic gadgets.It instructs its marketing team to competitively advertise and promote its gadgets.The company,instead of believing in market research,believes that the market will absorb more products if customers are made aware of the products.The workforce of Nessca Corp.is most likely to:

A)​be inward looking, focusing on selling what the firm makes.
B)take responsibility for its customers' well-being and interests.
C)assume that sales depend on a customer's decision to purchase a product.
D)​focus on determining the needs of its customers rather than selling aggressively.

Question 33

Unlike the personnel in market-oriented firms,the personnel in sales-oriented firms:

A)​tend to be inward looking.
B)focus on making what the market wants.
C)enhance individuals' and society's long-term best interests.
D)​determine the needs of both the final buyer and intermediaries.

Question 34

Which of the following statements is true of customer relationship management?

A)​It involves targeting the average customer or everybody.
B)It involves establishing and tracking customer interactions with a company.
C)It considers all customers as one large group that should be targeted with a single promotional strategy.
D)​It is used by sales-oriented firms to convince customers to buy their products.

Question 35

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

A)​Competing in the market
B)Fostering opportunism
C)Using clean energy sources
D)​Increasing overhead production costs

Question 36

Firms that are _____ assume that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product.

A)​exchange oriented
B)market oriented
C)sales oriented
D)​production oriented

Question 37

Allied Inc.,a beverage manufacturer,follows a societal marketing orientation.It now wants to revamp its existing containers as they were found to be harmful to its users.In this case,Allied Inc.will:

A)​change the label of the old containers and use them.
B)sell containers that will leave high amounts of chemical wastes when burned.
C)produce containers that are less toxic than its previous containers.
D)​manufacture containers that cannot be reused.

Question 38

Which of the following statements is true of on-demand marketing?

A)​It requires firms to focus on the internal rather than the external business environment.
B)It gives maximum emphasis to aggressive personal selling strategies.
C)It is aimed at enhancing customer relationships.
D)​It is used by sales-oriented firms.

Question 39

Unlike a production-oriented firm,a market-oriented firm:

A)​uses aggressive sales techniques to increase sales.
B)focuses on its internal capabilities rather than the needs of marketplace.
C)focuses on satisfying customer wants and needs.
D)​produces what company management thinks should be produced.

Question 40

Why should people study marketing?