Reference no: EM13734780

Question 1: A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisfied with its product?

Hire more salespeople.

Decrease its organizational overhead.

Increase its advertising to underserved markets.

Increase the number of outlets in which the product is sold.

Conduct research to determine if its customers' needs have changed.

Question 2: A firm that wants to develop a deeper understanding of its customers may optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is:

customer optimization.

customer relationship marketing.

sales orientation.

sales maximization.

all of these.

Question 3: The Geek Squad is a tech support station located inside every Best Buy electronics retail store. Best Buy gives intensive training to the Geeks. The purpose of this training is to:

improve customer service.

give higher education benefits to employees.

promote the company image by increasing public awareness.

reduce the need of empowerment.

increase employment levels.

Question 4: The Ritz-Carlton has Service Values that guide employees in providing its Gold Standard service. One of the service values states, "I own and immediately resolve guest problems." The Ritz-Carlton management uses ________ to provide customer service.

training

deregulation

empowerment

commissioning

mediating

Question 5: 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:

commitment selling.

transaction marketing.

transformational marketing.

marketing engineering.

relationship marketing.

Question 6: __________ is the collaborative efforts of people to achieve common objectives.

Effort training

Teamwork

Empowerment

OJT training

Mediation

Question 7: Chaz loves to play a Disney online pirate game in which he gets to create a pirate by choosing hair color, skin color, clothing, and physical features. Then he gets to choose from a variety of quests and can sail a ship, dig for treasure, fight skeleton pirates, or fight the British navy. This game provides what element of value?

Offering products that perform.

Earning of trust.

Avoiding unrealistic pricing.

Giving facts.

Co-creation.

Question 8: Marketers interested in offering customer value can:

offer products that it is skilled at making.

sell to customers using facts and other sales pitches.

offer organization-wide commitment to service and after-the-sale support.

price as high as the market will bear.

offer a large sales team to make cold calls.

Question 9: 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:

management empowerment.

retailer-customer synergy.

customer satisfaction

transactional marketing

disintermediation

Question 10: A problem facing the timber industry is the absence of any effective way to prove that rain forest timber has been legally harvested. In places like Indonesia, as much as 80 percent of timberavailable for sale is illegally cut. Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rain forests. Which of thefollowing conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot?

There are more than two parties involved.

Each party has something of value to bring to the exchange.

One party is free to accept the exchange offer.

Each party believes it is appropriate to deal with the other party.

Nobody sees the exchange as producing value.

Question 11: Target shoppers can enroll in the Take Charge of Education® program so that Target will donate 1 percent of purchases made with a consumer's REDcard, a Target credit card. The more moneycustomers spend, the larger the donation to the consumer's school of choice. By instituting the Take Charge of Education® program to help local schools, Target has shown a _____ orientation.

societal marketing

supplier

sales

production

philanthropic

Question 12: Toyota found that consumers wanted cars to last longer and be more environmentally friendly. GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and trucks it could manufacture, not on what customers wanted in a vehicle. GM had more of a __________ orientation.

sales

production

market

product

customer

Question 13: The sales and market orientations differ on all of the following characteristics EXECEPT:

those to whom the product is directed.

the firm's performance.

the firm's business.

the firm's primary goal.

the tools to achieve goals.

Question 14: One of the reasons given for the decline of the passenger rail industry in the United States is that the industry defined its mission as trains and not as transportation sources. The railroad industryfailed to:

define its mission in terms of the benefits its customers seek.

ignore the marketing concept of serving customer needs and wants.

realize "customers only want what they know."

have a sales orientation.

empower the customer.

Question 15: Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that:

price is the most important variable for customers.

sales depend predominantly on an aggressive sales force.

what the customer thinks he or she is buying is what is important.

a company has to apply scientific management techniques to survive.

selling and marketing are essentially the same thing.

Question 16: One facet of marketing is that it is:

an approach that focuses on maximizing sales.

a short-term oriented approach to profit maximization.

an approach that requires diversity.

a philosophy that stresses customer satisfaction.

independent of value creation.

Question 17: 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. It has instructed its sales force to aggressively distribute and promote its printers. The CEO is sure the market will absorb more product if the sales force is determined and assertive. Fujifilm appears to have a _________ orientation.

market

production

sales

marketplace

customer

Question 18: All of the following are basic marketing mix decisions EXCEPT:

sales.

price.

product design.

place (distribution).

promotion.

Question 19: All of the following are good reasons to study marketing EXCEPT:

Marketing creates customer needs.

Marketing plays an important role in society, coordinating the huge numbers of transactions needed to provide goods and services.

Marketing is a key function in business.

Marketing offers outstanding career opportunities.

Marketing affects your day-to-day life as a consumer.

Question 20: What is the fundamental objective of most businesses?

Employee empowerment, teamwork, and relationship marketing.

Satisfied stakeholders.

Low costs and high quality.

Customer loyalty and retention.

Survival, profits, and growth.