Marketing Final Exam

Firms usually rely more heavily on promotion alone

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Unformatted text preview: ales-oriented firms usually rely more heavily on promotion alone than do market-oriented firms. PTS: 1 REF: 12 Thinking KEY: CB&E Model Strategy OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Comprehension 18. Salespeople who work for market-oriented organizations are generally perceived by their customers as problem solvers and important links to supply sources and new products. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 12 OBJ: 01-3 KEY: CB&E Model Customer 19. Marketing is important to business, so marketing should be part of the job of everyone in the organization, not just those in marketing. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Evaluation REF: 13 OBJ: 01-4 KEY: CB&E Model Strategy MULTIPLE CHOICE 1. One facet of marketing is that it is: a. b. c. d. e. an approach that focuses on maximizing sales a short-term oriented approach to profit maximization an approach that requires diversity a philosophy that stresses customer satisfaction independent of value creation ANS: D Marketing has two facets. First, it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. Second, marketing is an organization function and a set of processes used to implement this philosophy. PTS: 1 REF: 3 Thinking KEY: CB&E Model Strategy OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Comprehension 2. A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its ability to communicate value, its pricing policy, and the distribution strategy. These activities are all a part of: a. a control system b. marketing c. accounting d. production e. human resources ANS: B 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. PTS: 1 REF: 3 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Pricing | CB&E Model Product | CB&E Model Distribution MSC: BLOOMS Analysis 3. _____ is a set of activities used to implement a management orientation that stresses customer satisfaction. a. Planning strategy b. Customer management c. Marketing d. A control system e. Reciprocity ANS: C This is the focus of marketing. PTS: 1 REF: 3 Thinking KEY: CB&E Model Product OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Comprehension 4. The American Marketing Association’s definition of marketing: a. is limited to promotional activities b. focuses on the value of empowerment, teamwork, and customer value c. shows how marketing benefits the marketer d. relies on the synergy created by exchange e. includes creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ANS: E According to the American Marketing Association, marketing is the activity, set of institutions, and...
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