Test_Prep_1 - Sample True and False 1. Marketing is defined...

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Unformatted text preview: Sample True and False 1. Marketing is defined as producing, promoting, and selling products. FALSE: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 2. According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. TRUE 3. In the early 1920s, Ford promised its customers any color vehicle they wanted as long as it was black. Ford's management assumed anyone buying a car would accept the color black, so it made products affordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm. FALSE: A market-oriented organization recognizes that different customers groups want different features or benefits. 4. While most marketing organizations rely on various forms of promotion to succeed, sales-oriented organizations make the most effective use of their entire marketing mix. FALSE: Sales-oriented firms usually rely more heavily on promotion alone than do market-oriented firms Sample Multiple Choice 1. A problem facing the timber industry is the absence of any effective way to prove that rain forest timber was legally harvested. In places like Indonesia as much as 80 percent of timber available for sale was 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 the following conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot? a. There are more than two parties involved. b. Each party has something of value to bring to the exchange. c. One party is free to accept the exchange offer. d. Each party believes it is appropriate to deal with the other party. e. Nobody sees the exchange as producing value. 2. A company that 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, has a(n) _____ orientation. a. marketplace b. sales c. market d. exchange e. production 3. A newspaper ad for a hospital that states, We have the most modern delivery rooms and state-of-the art medical equipment, is an indication of which marketing management philosophy?...
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Test_Prep_1 - Sample True and False 1. Marketing is defined...

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