FinalExamReview

FinalExamReview - Marketing 3401 Fall 2005 Final Exam...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Marketing 3401 – Fall 2005 Final Exam Review Chapters 1 through 20
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
True or False? A market-oriented firm defines its business in terms of the benefits it offers to its customers. FALSE A market-oriented firm defines its business in terms of the benefits its customers seek. (page 14) True or False? Retailers who have give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment. TRUE Empowerment is the delegation of authority to solve customers’ problems quickly – usually by the first person that the customer notifies regarding a problem. (pages 13) True or False? 3D Systems uses computers to generate new product prototypes. It has generated loyal business clients by providing the best customer support in the industry. The company also provides direct sales consultation that gives its salespeople intimate knowledge about exactly what customers want. This partnership entails relationship marketing. TRUE Relationship marketing is a strategy that entails forging long-term partnerships with customers. It begins with developing a clear understanding of who your customers are, what they value, what they want to buy, and how they prefer to interact with you and be served by you. (page 12) True or False? Henry Ford, founder of Ford Motor Company, once said about his cars: “You can have any color you want as long as its black.” This shows a strong market orientation. FALSE This shows a strong production orientation given the focus of the firm’s capabilities (same color car). (page 7) Chapter 1: An Overview of Marketing
Background image of page 2
Frito-Lay defines its business as “snack-food” rather than just “corn chips.” This is an example of: a. A marketing mix strategy. b. A mission statement. c. Quantifiable goals. d. A financial statement. e. Organizational accomplishment. John Porter is the new vice president of marketing and is designing the marketing mix for his company. The starting point of Mr. Porter’s marketing mix will be the: a. Analysis of what production equipment is available and owned by the company. b. Design of the promotion campaign to be used for the product. c. Selection of the places through which the product will be sold. d. Development of the good or service to be sold. e. Determination of the price to be charged for the good or service, to estimate future revenues. b. A mission statement. A mission statement answers the question, “What business are we in and where are we going?” It focuses on the market(s) the organization is attempting to serve rather than on the good or service offered. (page 41) d. Development of the good or service to be sold. The product is the starting point for any marketing mix. Without it, pricing, distribution, and promotion are irrelevant. The production capacity can be changed to fit the proposed product.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/04/2011 for the course MKT 3401 taught by Professor Jaber during the Spring '08 term at LSU.

Page1 / 21

FinalExamReview - Marketing 3401 Fall 2005 Final Exam...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online