minkyun kim 20278899 - Department of Marketing College of...

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Department of Marketing College of Business Administration University of Central Oklahoma Principles of Marketing MRKT-3013-0 87 (11615) Fall 2011 Midterm Exam Instructions: 1. Check to see if there are 25 multiple choices and 2 essay questions. 2. Please write down student name and ID number below on this test form. 3. Place the answer of each question at the end of the question in parenthesis.
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4. When you are done, please email this test form by 10:00pm to instructor. Student name and ID: MinKyun Kim 20278899 Multiple-choice questions (2 points per each) : 1. According to our discussion in the class, most firms are HIGHLY likely to practice which of the following orientations when they attempt to improve quality of product, enhance its performance, and add more innovative features? ( b ) a. The production orientation b. The product orientation c. The selling orientation d. The marketing orientation e. The societal orientation 2. According to our discussion in the class, most firms are HIGHLY likely to practice which of the following orientations when they have overcapacity? ( c ) a. The production orientation b. The product orientation c. The selling orientation d. The marketing orientation e. The societal orientation 3. Building and managing profitable customer relationships based on __________________ is the very heart of modern marketing thinking and practice. ( c ) a. increased stock value b. maximum value of the product c. customer value and satisfaction d. profit maximization e. brand equity 4. The two-folded goals of marketing are to ______________ and to ______________. ( a ) a. keep and grow current customers; attract new customers by promising superior value b. keep and grow current customers; attract competitors’ customers by delivering competitive pricing c. attract current customers; attract competitors’ customers by delivering friendly service d. keep and grow current customers; keep and grow competitors’ customers by delivering vast product assortment e. all of the above
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5. Many sellers make the mistake of marketing myopia by paying more attention to the specific products they offer than to the ________ produced by those products. ( e ) a. prices and costs b. experiences and emotions c. customer satisfaction d. customer loyalty e. benefits and experiences 6. For the past two years, Mary Conti has wanted to buy a new car. Now that she has finally graduated from college and taken a good paying job she has the buying power to purchase the red convertible she has dreamed about. Mary’s want now has become a ________. ( c ) a. need b. customer c. demand d. satisfier e. none of the above 7. What do companies call a set of various types of benefits that they promise to consumers to satisfy their needs? ( a ) a. market offering b. perceived performance c. demand satisfaction d. customer value e. value proposition 8. You are preparing a combination of product, service, informational, and experiential features to a market to satisfy customers’ needs and/or wants. What are
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This note was uploaded on 04/02/2012 for the course ECON 1 taught by Professor 1 during the Spring '12 term at The University of Oklahoma.

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minkyun kim 20278899 - Department of Marketing College of...

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