Marketing Midterm Quiz

Question Number 1 A business is concerned with many dat-to-day activities. Some of the most important are the planning and conception of the product or service, its pricing policy and the distribution stragey. These actitities are all part of: A. a control system B. marketing C. accounting D. production E. human resources Question Number 2 A key ingredient in the philosophy of marketing is ___, ot the idea that people give up something in order to receive something that they would rather have. A. exchange B. synergy C. promotion D. sublimation E. reciprocity Question Number 3 In order for exchange to occur: A. a complex societal system must be involved B. organized marketing activities must also occur C. a profit-oriented organization must be involved D. money or other legal tender is required E. each party must have something of value to the other party Question Number 4 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 Question Number 5 For exchange to take place A. there must be at least two parties B. money must be present C. each party must feel obligated to accept the offer D. at least one person must have something of value E. communication must not occur Question Number 6 Four competiting philisophies strongly influence the role of marketing and marketing activities with an organization. Which if the following is NOT a marketing management philosophy? A. sales orientation B. societal marketing orientation C. marketing orientation D. profitability orientation E. product orientation Question Number 7 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. marketing D. customer E. customer-benefit Question Number 8 Researchers of PPG Industries spent considerable time, effort and money developing a bluish windshield that would let in filtered sunlight but block out the heat. Little market research was done, but the scientists were convinced that this new product would be significantly better than existing windshields even though they were more expensive and of a different color that the current models on the market. PPG most likely has a(n) A. exchange B. production C. sales D. promotion E. customer Question Number 9 In which of the following situations is a firm with a production orientation most likely to survive? A. There are many small competitiors in the marketplace B. demand for the product it produces exceeds demand C. needs of the marketplace are shifting D. supply for the product it produces exceeds demand E. what the firm can best produce is no what the market wants Question Number 10 One problem with adopting a(n) ____ orientation to marketing is its failure to consider whether what the firm produces most efficiently also meets the needs of the marketplace A. customer B. exchange C. product D. market E. production Question Number 11 A ____ orientation assumes customers resist buying items that are not essential. It also assumes people will buy more goods and services if aggresive marketing techniques are used. A. sales B. production C. marketing D. customer E. marketplace Question Number 12 Lawlwer Landscaping Company sells all kinds of ornamental plants. Lawler's management believes that its customers will buy more plants if its salespeople use aggressive marketing techniques because ornamental plants are nonessential items for most homeowners. In other words, the company has a ____ orientation A. promotion B. production C. sales D. marketing E. customer Question Number 13 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 Question Number 14 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 aggresively distribute and promote the product. The CEO is sure that the market will absorb more product if the sales force is determined and assertive. Fujifilm appears to have a ____ orientation A. marketing B. production C. sales D. customer E. marketplace Question Number 15 Wal-Mart has become the leading discount retailer in the United States and the world by focusing on the customer's needs and wants. This philosophy is at the heart of a ____ orientation. A. sales B. market C. retail D. production E. exchange Question Number 16 The marketing concept and market orientation recognize that: A. price is the most important variable for customers B. sales depend predominantly on an aggressive sales force C. what the customer thinks he or she is buying is what is important D. a company has to apply scientific management techniques to survive E. selling and marketing are essentially the same thing Question Number 17 A company that has a market orientation and adheres to the marketing concept does NOT: A. integrate all the activities of the firm to satisfy customer wants B. focus on consumer needs and wants C. differentiate a firm's products from its competitor's products D. fuel sales growth through the application of aggressive sales techniques E. concentrate on long-term goal achievement (such as profits and growth) for the firm Question Number 18 The statement "Marketing should be introduced at the beginning rather than the end of the production cycle and integrated into each phase of the business," is consistent with a ____ orientation. A. production B. market C. retail D. sales E. enterprise Question Number 19 The marketing concept involves: A. focusing on customer's wants so that the organization can distinguish its product (or products) from the competitor's products B. satisfying mangements needs and wants with the idea of maximizing profits in the short run C. selling as much product as possible under the assumption that people will buy more goods and sevices if aggressive selling techniques are used D. selling as much as possible under the assumption that consumers will buy more at lower prices E. focusing on production in order to increase product quality and lower prices Question Number 20 The marketing concept stresses that the social and economic justification for an organization's existence is the satisfaction of customer needs and wants while: A. producing a good or service at the lowest possible cost B. improving the general standard of living C. constantly increasing sales volumes D. applying scientific management techniques to improve efficiency E. simultaneously meeting organization objectives Question Number 21 An organization with a(n) ____ believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests A. sales orientation B. marketing orientation C. ethical business mission D. focused target market strategy E. societal orientation Question Number 22 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 finaly say on whether the product is of any value. According to Torres, "If something doesnt' move, that's the last time you see it". By focusing on customer's wants, the chocolate company exhibits an ____ orientation A. exchange B. product C. production D. sales E. market Question Number 23 Kinko's copy shops use the equivalent of 10.5 square miles of forest to produce all of the paper needed by the corporation annually. While the company is committed to making a profit, it is also committed to preserving the environoment. In 1997, Kinko's wrote an environmental vision in which it committed the company to conserving natural resources. With this 1997 enviornmental vision, Kinko's adopted a ____ orientation A. societal marketing B. sales C. reciprocal exchange D. production E. product Question Number 24 Which of the following statements about the societal orientation is true? A. Companies that protect the environment by using all-natural materials in their products are showing a societal marketing orientation B. Marketers cannot deliver all benefits sought by customers because these benefits may not be in the long-term best interests of the customers C. The societal marketing concept is an important refinement of the market concept D. Organizations have both a social and economic justification for their existence E. All of these statements about the societal orientation are true. Question Number 25 Organizations that sell unsought products like cemetery plots may find themselves adopting a ____ orientation because the companies are marketing products that most people do not want A. sales B. production C. marketing D. product E. customer Question Number 26 Achieving a market orientation involves: A. doing research on customers, competitors, and markets B. determining how to deliver superior customer value C. establishing and maintaining mutually satisfying relationships with customers D. implementting actions to provide value to customers E. doing all of the activities listed Question Number 27 What gives customers the feeling that their concerns are being addressed and gives employees the feeling that their expertise matters? A. management-employee synergy B. organizational entropy C. a hierarchically-responsive organization D. empowerment E. delegation Question Number 28 The main focus of a marketing-oriented firm is: A. inward upon the skills and competitive technological advantages of the firm B. inward upon the organization's needs C. outward upon societal responsibilities D. inward upon the abilites to deliver goods and services E. outward upon the wants and needs of customers Question Number 29 ____ is the ratio of benefits to the sacrifice necessary to obtain those benefits A. opportunity costs B. marketing utility C. market quality D. satisfaction percentage E. customer vaule Question Number 30 Marketers interested in offering customer value can A. offer products that perform B. give consumer more than they expect C. offer organization-wide commitment to service after-the-sale support D. avoid unrealistic pricing E. do all of these Question Number 31 When customer expectations regarding product quality, service quality and value-based price are met or exceeded, ____ is created A. a value line B. a quality rift C. planning excellence D. customer satisfaction E. expectation satisfaction Question Number 32 ____ is a strategy that entails forging long-term partnerships with customers A. commitment selling B. relationship marketing C. transactional marketing D. market engineering E. organization-customer synergy Question Number 33 Frequent-flyer programs are an example of financial incentives to customers in exchange for their continuing patronage. After flying a certain number of miles or flying a specified number of times, the frequent-flyer program participant earns a free flight or some other award such as free lodging. Airlines that use frequent-flyer programs are practicing A. commitment selling B. transaction marketing C. transformational marketing D. marketing engineering E. relationship marketing Question Number 34 One-to-one marketing is a form of: A. relationship markeing B. conceptual marketing C. a marketing network D. a sales orientation E. societal marketing Question Number 35 The objective of one-to-one marketing is to: A. increase costs B. build and maintain customer loyalty C. reduce customer satisfaction D. decrease revenue E. none of these Question Number 36 Which of the following is NOT a viable method a company can use to become more marketing-oriented A. train employees in the latest aggressive selling techniques B. make sure all employees are customer-oriented C. train employees to understand the company, its philosophy and procedures. D. implement employee empowerment E. train employees to focus on customer satisfaction Question Number 37 Some marketing-oriented firms give employees expanded authority to solve customer problems on the spot. This is known as: A. training B. deregulation C. empowerment D. commissioning E. mediating Question Number 38 The management at Canadian Pacific (CP) Hotels has authorized its hotels' staffs to provide whatever amenity--such as a special magazine or a hypoallergenenic pillow--their frequent stayers request as quickly as possible. This is an example of: A. training B. deregulation C. empowerment D. commmissioning E. mediating Question Number 39 As part of instituting an empowerment program, a marketing director should: A. hire thirty new college graduates who have the latest training in marketing management techniques B. create a customer-service department and place a key staff person in charge of the department C. train the company's staff to judge of the quality of the products the firm produces D. allow all non-management employees to resolve problems on their own without prior approval from their immediate supervisors E. conduct a survey of the company's marketing staff to learn about employee morale Question Number 40 ____ is the collaborative efforts of people to achieve common objectives A. Effort training B. Teamwork C. Empowerment D. OJT Training E. Mediation Question Number 41 When lightbulbs were first introduced, manufacturers offered one size for all light fixtures. Today you can buy light bulbs in different shapes, different wattages, and different colors. They also differ as to how much electricity they use and their duration. Light bulb manufacturers: A. miss sales by not concentrating on the average customer B. recognize that different customer groups have different needs and wants C. are sales-oriented companies D. are companies that would state that they are in the business of selling bulbs E. are aiming at a goal of profit through maximum sales volume Question Number 42 One way to identify the orientation of a firm is to examine its primary goal. If a fim sells to achieve profitability through sales volume, it would probably be: A. promotion-oriented B. price-oriented C. sales-oriented D. production-oriented E. retail-oriented Question Number 43 ____ is the primary tool used by a sales-oriented organization to achieve its corporate goals A. Price B. Promotion C. Product design D. Place (distribution) E. Production Question Number 44 For a market-oriented organization, the primary tool used to achieve its goal is: A. a blend of product, place, promotion and pricing decisions B. price C. product design D. Place (distribution) E. production Question Number 45 Which if the following is NOT a good reason to study Marketing? A. Marketing teaches businesses how to sell products that people do not need. B. Marketing plays and important role in society, coordinating the huge numbers of transactions needed to provide goods and services. C. Marketing is a key function of business D. Marketing offers outstanding career opportunities E. Marketing affects your day-to-day life as a consumer Question Number 46 Marketing competition is primarily based upon: A. aggressive selling B. extensive distribution C. promotion saturation D. aggressive pricing E. need identification and satisfaction Question Number 47 Marketing is appropriate for: A. business organizations B. non-profit organizations C. political organizations D. churches E. any, and all, of the above Question Number 48 Presidental candidates increasingly employ such marketing methods as: A. focus groups B. tracking polls C. market research D. advertising E. all of the above Question Number 49 Essentially marketing is: A. technology oriented B. a financial tool C. a sales tool D. people-oriented E. production oriented Question Number 50 Marketing activities include: A. personal selling B. advertising C. sales promotion D. market research E. all of the above Question Number 51 Regardless of the marketing activity, success requires the ability to: A. analyze corporate strategies B. communicate and interact with people C. protect company ideas D. implement SWOT plans E. develop succinct procedures Question Number 52 A firm's philosophy may be stated formally in the form of a ____ which is intended to guide the effects of everyone in the organization A. process statement B. code of ethics C. commercial code D. procedure manual E. mission statement Question Number 53 The philosophy of an organization is important because it: A. protects the firm agains lawsuits B. outlines the details of job performance C. indicates the types of activities valued by the organization D. provides the basis for labor negotiations E. guides production scheduling Question Number 54 During the early years of this country, all goods, even necessities, were scarce. Under conditions of scarcity, the MOST logical business philosophy was: A. the selling philosophy B. the marketing philosophy C. the production philosophy D. the process philosophy E. the distribution philosophy Question Number 55 Henry Ford's famous statement - "you can have any color car you want as long as it's black"-is a prime example of belief in the: A. selling philosophy B. Process philosophy C. Distribution philosophy D. Marketing philosophy E. Production philosophy Question Number 56 The X-L Corporation employs door-to-door selling and tends to rely on aggressive salespeople prepared with "canned" sales pitches. The basic idea - every customer will buy if the salesperson only persists long enough - is most consistent with the A. marketing philosophy B. societal philosophy C. production philosophy D. selling philosophy E. distribution philosophy Question Number 57 When Japanese automobiles began to seriously erode the traditional market shares of America's Big Three, the immediate response was a dramatic increase in advertising and heavy use of rebate programs. The response of domestic auto producers would indicate that those firms followed the: A. selling philosophy B. marketing philosophy C. production philosophy D. distribution philosophy E. societal philosophy Question Number 58 As American industry solved the "scaricity problem", the Great Depression made it even more difficult for firms to "dispose of" existing inventories - much less justify expanded production. These conditions led logically to the em emergencies of the: A. selling philosophy B. marketing philosophy C. production philosophy D. societal philosophy E. international philosophy Question Number 59 Which of the following philosophies suggests that the organization's focus is on satisfying the needs of customers? A. the production philosophy B. the distribution philosophy C. the marketing philosophy D. the selling philosophy E. the societal philosophy Question Number 60 Under the ____ philosophy, the focus of an organization shifts to outside the firm. A. distribution B. selling C. Freudian D. production E. marketing Question Number 61 According to the ____ philosophy, the identification and satisfaction of customer needs provides the only justification for survival of business firms-as well as their growth and increased profitability A. selling B. production C. marketing D. distribution E. sociological Question Number 62 The articulation and wide-spread acceptance of the ____ philosophy was driven by the intense competition for customers faced by an expanding number of domestic and foreign marketers in the 1950's A. production B. marketing C. selling D. distribution E. societal Question Number 63 The marketing concept is based on which of the following beliefs? A. An organization's basic purpose is to satisfy customer needs B. Providing customer satisifaction requires organization-wide integration and coordination of efforts C. Organizations should focus on long term success D. All of the above E. None of the above Question Number 64 Xerox uses surveys to measure customer satisfaction and in an attempt to: A. expand production efficiency B. communicate their marketing philosophy C. increase customer loyalty D. sustain societal goals E. all of the above Question Number 65 The focus upon attempting to build customer loyalty is MOST consistent with the A. production philosophy B. distribution philosophy C. selling philosophy D. marketing philosophy E. promtion philosophy Question Number 66 Earning high levels of customer loyalty will likely lead to: A. marketing conceptualization B. producer efficiency C. increased sales growth and higher profitability D. improved national economic performance E. a monolopy position Question Number 67 Which of the following is(are) part of the customer loyalty concept? A. Earning high levels of customer loyalty leads to decreased sales growth B. Completely satisfying the customer is the best route to earning customer loyalty C. Providing exceptional value is needed to satisfy management D. All of the above E. None of the above Question Number 68 Retaining customer loyality is usually: A. less expensive than acquiring new customers B. difficult to do C. less profitable than finding new customers D. easier for large corporations E. all of the above Question Number 69 A firm that embraces the goal of building/maintaining customer loyalty is attempting to create: A. long-lived products B. long-term customers C. immediate sales D. immediate profits E. expanded production Question Number 70 What a customer gets for what the give is called A. customer satisfication B. customer value C. customer loyalty D. consumer revenue E. consumer dissonance