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Marketing Final Exam

1 ref 5 6 thinking key cbe model strategy obj 01 2 top

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Unformatted text preview: . PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 30. Which marketing management philosophy assumes that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product? a. Sales b. Production c. Product d. Market e. Exchange ANS: D A market orientation states that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 31. Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that: a. price is the most important variable for customers b. sales depend predominantly on an aggressive sales force c. what the customer thinks he or she is buying is what is important d. a company has to apply scientific management techniques to survive e. selling and marketing are essentially the same thing ANS: C The perceived product and perceived value are what the customer is buying, and the marketing concept and market orientation have endeavored to understand those perceptions. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Customer OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 32. A company that has a market orientation and adheres to the marketing concept does NOT: a. integrate all the activities of the firm to satisfy customer wants b. focus on consumer needs and wants c. differentiate the firm’s products from its competitor’s products d. fuel sales growth through the application of aggressive sales techniques e. concentrate on long-term goal achievement (such as profits and growth) for the firm ANS: D Aggressive sales techniques are part of the sales orientation and are not needed if a company is meeting the needs and wants of its customers. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Evaluation 33. Minor League Baseball (MiLB) suffers from sluggish attendance. To attract more fans to MiLB games, owners often resort to gimmicks––free hot dog nights, events designed to get into the Guinness World Records, and celebrity visits. Since baseball fans are seldom asked what would make them want to attend more games, this suggests most MiLB teams do not have a(n) _____ orientation. a. sales b. empowerment c. community d. societal e. market ANS: E The marketing concept and a market-oriented philosophy is based on the consumers’ wants and needs, and the organization will focus its activities on satisfying these customers by listening to them and revising strategies as necessary. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Application 34. A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisf...
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