Marketing 3401 Exam 1 Review

Marketing 3401 Exam 1 Review - Marketing 3401 Exam 1 Review...

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Marketing 3401 Exam 1 Review Chapters 1-7, bring small scantron 1. Unlike a production oriented 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- false 2. The way to achieve customer satisfaction and value is to offer the lowest price- false 3. A production costs analysis could be a part of a company’s SWOT analysis- true 4. An economic recession increases demand for products and services- false 5. Having a global vision means that management recognizes and reacts to international marketing opportunities, uses effective marketing strategies, and is ware of threats from foreign competitors in all markets - true 6. The us government limits the amount of sugar cain imported in country, example of quota- true 7. Licensing agreements reduce the risk for manufacturers and sometimes even remove the requirement for a manufacturer to produce its own product- true 8. The US, unlike some other countries, does not have a status structure or social class- false 9. Business marketing- selling to retail stores 10. One facet of marketing is that it is a. A philosophy that stresses customer satisfaction 11. Which marketing management philosophy is often adopted by orgs. That sell
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