solution_to_Homework_1-1

solution_to_Homework_1-1 - MKT 3401 quiz#1 Name LSU Student...

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MKT 3401 quiz #1 Name: ________________________ LSU Student ID #: _______________ Section #: _____________________ This is a closed book quiz to be finished in 20 minutes. There are 15 True/False questions. The quiz is worth 5 points in total (which may also be considered as one of your 5 participation opportunities.) 1. 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.__________ ANS: T REF: page 3 TYPE: definition 2. The focus of a production-oriented firm is on what it can make or do best. _________ ANS: T REF: page4-5 TYPE: Comp 3. The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs. ____________ ANS: T REF: page 6 TYPE: Def 4. Unlike a production orientated firm, a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort. ____________ ANS: F
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