Marketing Final Exam

The home depot and indicates the retail store has an

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Unformatted text preview: he Home Depot and indicates the retail store has a(n) _____ orientation. a. sales b. market c. product d. exchange e. production ANS: B The marketing concept, the foundation of a market orientation, holds that the needs and wants of both the customer and the firm be served. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Application 39. At The Container Store, every employee is trained to serve customers. Full-time salespeople receive 240 hours of training. The Container Store works to hire people who are self-motivated and have a passion for customer service. The Container Store has a _____ orientation. a. sales b. market c. product d. societal e. production ANS: B The marketing concept, the foundation of a market orientation, holds that the needs and wants of both the customer and the firm be served. PTS: 1 REF: 5-6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Application 40. A company that wants to implement a market orientation would need to: a. do research on its customers, competitors, and markets b. determine how to deliver superior customer value c. establish and maintain mutually satisfying relationships with customers d. implement actions that provide value to customers e. do all of the activities listed ANS: E These are all options that make up a successful marketing orientation. PTS: 1 REF: 6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Analysis 41. Mimi Couturier is a design company that specializes in formalwear for women. The company is known for challenging fashion mores. The company’s fashion designers use computer-assisted design software to create what it thinks women should wear. The company regularly hires industry experts to examine its factories to find waste and inefficiencies that can be eliminated. The company has expanded the number of products it offers for sale many times. However, for the last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To avoid this occurrence in the future, Mimi Couturier should: a. b. c. d. e. hire more retail efficiency experts to trace down any production problems increase its sales force to find more potential customers for the firm have someone study its target market to see what needs and wants should be met by Mimi Couturier cut prices so that its prices will be at least 10 percent below those of its competitors design more sophisticated products that use the latest computer-aided techniques ANS: C Mimi Couturier has been production oriented. It should develop a market orientation, which means the firm will produce only those items needed by its target market. PTS: 1 REF: 6 Thinking KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Application 42. Best Buy has become the nation’s largest specialty retailer by focusing on the customer’s needs and wants. This philosophy is at the heart of a(n) _____ o...
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This document was uploaded on 09/29/2013.

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