MKT final.pdf - Test 1 Chapter 1 Indicate the answer choice that best completes the statement or answers the question 20 For years Richard Branson

MKT final.pdf - Test 1 Chapter 1 Indicate the answer choice...

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Unformatted text preview: Test 1 Chapter 1 Indicate the answer choice that best completes the statement or answers the question. 20. For years, Richard Branson, founder of the Virgin Group, has believed in customer service. He believes that good customer service stems from an environment founded on “a chain, one that is consistent from beginning to end.” Which idea has Virgin Group captured in this short phrase? a. the societal concept b. Maslow’s hierarchy of needs c. the marketing concept d. the sales-orientation philosophy 21. What does the marketing concept involve? focusing on customers’ wants so that the organization can distinguish its product (or products) from the competitors’ products b. selling products at the highest prices that the market will bear with the idea of maximizing profits in the short run c. selling as much product as possible under the assumption people will buy more goods and services if aggressive selling techniques are used d. focusing on production in order to increase product quality and lower prices a. 22. World Wrestling Entertainment (formerly the World Wrestling Federation) is very focused on what its fans want, both in terms of product licensing and, more importantly, in terms of plot lines and character development. All of the company’s activities are integrated so that no employee ever loses sight of the company’s desire to satisfy its fans. What type of orientation does World Wrestling Entertainment have? a. sales b. market c. product d. societal 23. What type of orientation does a company have when it sets its goals and strategies based on what its current equipment can produce, what products’ engineering can design, and what the company itself can do best? a. marketplace b. sales c. production d. exchange 24. One way to identify the orientation of a firm is to examine its primary goal. What type of marketing management philosophy does a firm practice that seeks to achieve profitability through higher sales volume? a. societal marketing orientation b. market orientation c. sales orientation d. production orientation 25. Procter & Gamble decided to address the fact that Chinese Canadian women are more likely to die from breast cancer because they’re reluctant to get mammograms or discuss screening. So P&G brought screening to supermarkets in areas with large Chinese Canadian populations. What type of orientation did P&G adopt to achieve this goal? a. promotional b. societal marketing c. customer d. marketing 26. Andi Littleton has inherited a Featherlite brand horse trailer from her recently deceased grandfather. A preliminary investigation has shown many people would be interested in owning a Featherlite brand horse trailer. She is considering placing an advertisement in a newspaper targeted to horse owners. She has been told similar horse trailers are selling for about $14,000. Which of the following conditions is necessary for an exchange to occur between Littleton and a buyer? a. Her trailer should carry a low price. b. The trailer should be on display somewhere that people will see it. c. She needs to practise negotiating. d. Littleton and her buyer must be able to walk away from the deal if desired. 27. The marketing concept includes a goal orientation to remind managers of which of the following? a. Satisfying customers is as important as achieving long-term organizational goals. b. Customers must be satisfied no matter what the long-term effect on the firm. c. The only reason for any business to exist is to make a profit. d. The objective is to find a target market that differs from that of the competition. 28. Shoppers at a supermarket can request Smart Partner cards. A percentage of the amount of money each shopper spends is given to a school the customer has chosen. How is the store using the Smart Partner cards? a. as a part of its commitment selling b. as a part of its transaction marketing c. as a part of its retailer–customer synergy d. as a part of its relationship marketing 29. 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 which type of orientation? a. production b. market c. retail d. sales 30. Which of the following best characterizes marketing? a. promotional activities selling c. advertising d. customer satisfaction b. personal 31. An expert in library science stated in Library Journal, “It should be fairly clear that librarians do not market and that they never have marketed.” If librarians were to use the marketing concept which of the following would they do? a. focus on satisfying the needs of their customers b. order more books c. promote their existing collections better d. have more celebrity authors do readings 32. Which of the following is a marketing management philosophy? a. sales promotion orientation b. societal change orientation c. marketing company orientation d. profitability orientation 33. The marketing concept stresses that the social and economic justification for an organization’s existence is the satisfaction of customer needs and wants while doing which of the following? a. producing a good or service at the lowest possible cost b. simultaneously meeting organization objectives c. constantly increasing sales volumes d. applying scientific management techniques to improve efficiency 34. Tata Motors has improved the productivity of its plant. For the new financial year, the company projects a production increase of 30 percent. It has instructed its sales force to aggressively distribute and promote its trucks. The company believes the market will absorb more products if the sales force is assertive. What sort of orientation does Tata have? a. market b. production c. sales d. customer Figure 1-1 Dofasco, Inc. is a Canadian steel manufacturer. According to its CEO, “People can make a phenomenal difference if you stop telling them to come to work, put their brains in a box, and do whatever the supervisor says. We let our employees work in teams.” 35. Refer to the Figure. This quote implies that as a direct result of employees using more teamwork, Dofasco will be able to do which of the following? a. to operate successfully using a production orientation b. to provide its customer with a higher level of satisfaction c. to have higher levels of employee turnover d. to have higher levels of management satisfaction 36. As it evolves from a credit-card company to one with greater emphasis on electronic payments, Visa is launching its first major rebranding campaign in 20 years. The company’s new promotional slogan is “Life Takes Visa.” Through the use of this slogan, Visa shows how much it wants to become an integral part of its customers’ everyday lives. Which type of orientation is Visa using? a. marketing b. sales c. product d. societal 37. What should a marketing director do as part of instituting an empowerment program? a. Put employees through simulation situations in their training. 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 the quality of the products the firm produces. d. Allow non-management employees to resolve problems on their own without prior approval from their immediate supervisors. 38. What 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) 39. What does Xerox emphasize by replacing at its own expense any dissatisfied customer’s equipment within a period of three years after purchase? a. management empowerment b. management–customer synergy c. customer satisfaction d. transactional marketing 40. What is created when customer expectations regarding product quality, service quality, and value-based price are met or exceeded? a. a value line b. quality products c. dissonance excellence d. customer satisfaction 41. What should a retail casket outlet do if it wishes to offer customer value? a. use a production orientation b. use a sales orientation c. offer free services to go along with the casket d. provide customers with only a few casket choices 42. Some market-oriented firms give employees expanded authority to solve customer problems on the spot. What is the firm’s aim in doing this? a. relationship selling b. deregulation c. customer satisfaction d. commissioning 43. Which if the following is a valid reason to study marketing? a. Marketing teaches students how to sell all types of products and services. b. Marketing plays an important role in society, coordinating the huge numbers of transactions needed to provide goods and services. c. Marketing is used in many types of organizations but not charities and government. d. Marketing offers more money than other disciplines like finance. 44. What is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits? a. opportunity cost b. marketing utility c. market quality d. customer value Figure 1-3 As recently as 20 years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, 300 to 600 people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey’s Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine. 45. Refer to the Figure. Now circuses are trying to satisfy customers’ needs and wants and to profit through customer satisfaction. What type of orientation have they adopted? a. societal b. selling c. production d. market 46. Refer to the Figure. The aggressive promotions used by advance men indicate that two decades ago the circuses probably had which type of orientation? a. sales b. market c. production d. societal 47. What must happen in order for exchange to occur? a. Organized marketing activities must also take place. b. A profit-oriented organization must be involved in the process. c. Money or other legal tender is required. d. Each party must have something the other party considers to be valuable. 48. Minor League Baseball suffers from sluggish attendance. Salesmen for the teams and sports store owners try to push the sales of tickets onto local softball teams, what type of marketing management philosophy are they practising? a. sales orientation b. market orientation c. production orientation d. societal marketing orientation 49. If a company uses a sales orientation, what would consumer complaints most likely result in? a. a modification of the sales presentation reinvention c. continuous market research b. product d. attempts to cut production costs 50. Canadian Smoked Turkey Inc. is mail-order business that doesn’t accept credit cards and has no toll-free number for customers to call. It may be old-fashioned but has a very loyal following. What does Canadian Smoked Turkey probably use to maintain these long-term ties to its customers? a. reactive marketing b. synergistic management c. relationship marketing d. promotional marketing 51. Levi Strauss has developed the Naturals line of jeans that do 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 the Naturals line would be consistent with which type of orientation? a. societal marketing b. supplier c. sales d. production 52. What do companies that have implemented a market orientation strategy recognize? 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. Selling and marketing are essentially the same thing. 53. Hanif is an account manager at The Curb, a furniture store. To make his quota, he will be quite aggressive in his customer pitch to the point where his customers might feel harassed. Which orientation is Hanif using? a. market b. sales c. customer d. production 54. Kinko’s copy shops use the equivalent of over 27 square kilometres 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 environment. Recently, Kinko’s wrote an environmental vision in which it committed the company to conserving natural resources. With this environmental vision, what type of orientation did Kinko’s adopt? a. societal marketing b. sales c. reciprocal d. production 55. Indonesian logging companies harvest rainforests for timber and assume that a market exists for their products. Which type of orientation does the typical Indonesian logging company have? a. exchange b. environmental c. production d. sales Figure 1-2 In 1995, Chrysler Corporation launched the first complete remake of its minivan category since the firm invented the vehicle category in 1984. The minivans were redesigned with more curves on the outside and more space on the inside. One of Chrysler’s goals was to broaden the minivan’s appeal beyond the traditional buyer base of practical families. Advertising showed minivans being used to cart everything from senior citizens to canoes. One of the promotional slogans used was “A minivan is for any time, any place, everyone.” To reach other customer groups, Chrysler developed a sport version and a short-wheel-base version of the upscale Town and Country model for sophisticated buyers. Chrysler hoped the $2.6 billion vehicle development cost would pay off as the market expanded. However, competitors also began to offer a wider range of sophisticated models, and competition has become fierce. 56. Refer to the Figure. When Chrysler first launched the minivan, the company offered only one version and was focused on generating sales volume through intensive advertising. This approach suggests the company had which type of orientation? a. sales b. market c. production d. societal 57. Taxi companies in many large metropolitan areas are requiring newly licensed taxi drivers to undergo a two-day training seminar during which they learn basic etiquette in addition to a familiarity with common landmarks and street names. What is the purpose of this training? a. to improve customer service b. to give higher education benefits to employees c. to promote the company image by increasing public awareness d. to improve employee satisfaction 58. A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its pricing policy, and its distribution strategy. What are all these activities part of? a. a control system b. marketing c. accounting d. production 59. Mimi Couturier’s fashion designers use computer-assisted design software to create what it thinks women should wear. The company regularly hires industry experts to examine its factories to find waste and inefficiencies that can be eliminated. For the last two years Mimi Couturier has lost money. What should the company do? a. hire more retail efficiency experts to trace down any production problems b. increase its sales force to find more potential customers for the firm c. have someone study its target market to see what needs and wants should be met by Mimi Couturier d. cut prices so that its prices will be at least 10 percent below those of its competitors Figure 1-3 As recently as 20 years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, 300 to 600 people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey’s Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine. 60. Refer to the Figure. What could circuses do to exhibit a societal marketing orientation? a. rely on publicity and avoid any promotions b. empower their employees to satisfy customer wants c. donate a percentage of their profits to local educational institutions d. emphasize customer value 61. Jamie owns a small moving company. She has decided to take a few night school business courses because her company is growing quickly and there are many things she does not understand. Should Jamie enrol in a marketing course? a. Yes, because marketing is synonymous with selling, and Jamie will want to learn sales techniques to continue the growth of the company. b. Yes, because the concept of marketing will help Jamie to better satisfy her customers. c. No, because marketing should be done by experts rather than someone who has taken one course. d. Yes, because marketing helps businesses sell products that people wouldn’t have thought to buy without being marketed to. 62. One of the reasons given for the decline of the passenger rail industry is that the industry defined its mission as trains and not as transportation sources. What did the railroad industry fail to do? a. to define its mission in terms of the benefits its customers seek b. to convince airline and car passengers to switch to rail c. to realize “customers only want what they know” d. to have a sales orientation 63. Surj went to Second Cup and ordered a vanilla latte on a Monday. He ordered the same drink from the same barista every day. A week later the barista, Jane, asked him if he would like his “usual.” What was this an example of? a. commitment selling b. relationship marketing c. transactional marketing d. market engineering 64. If a mattress manufacturer redefines the business mission as “a good night’s sleep” rather than stating it as “the manufacture of high-quality mattresses,” what is the likely result? a. It will not stimulate an awareness of changes in consumer desires. b. It will be too broad a statement to be of any real use in serving customers. c. It will attract the high end buyers where more profits are made. d. It will help the firm focus on meeting customer needs rather than on technology. 65. When light bulbs were first introduced, manufacturers offered one size for all light fixtures. Today you can buy light bulbs in different shapes, wattages, and colours. Which of the following demonstrates how light bulb manufacturers practise the marketing concept? a. They target only the largest customers. b. They recognize different customer groups have different needs and wants. c. They are sales-oriented companies instead of production-oriented companies. d. They are companies that would state they are in the business of selling all light bulbs. Figure 1-1 Dofasco, Inc. is a Canad...
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