79 free test bank for MKTG 8th edition by lam1

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79 Test Bank for MKTG 8th Edition by Lamb

Multiple Choice Questions - Page 1

Which marketing orientation assumes people will buy more goods

and services if aggressive marketing techniques are used?

it could manufacture, not on what customers wanted from a vehicle

GM had more of a orientation

Which of the following occurs when people give up something in

order to receive something they would rather have?

1 a Exchange

2 b Synergy

3 c Transformation

4 d Leveraging

5 e Reciprocity

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

SAP, the world’s largest business software company, has pledged

to put the “customer at the center” of their universe SAP has

captured the idea of:

1 a the 80/20 rule

2 b Maslow’s hierarchy of needs

3 c the marketing concept

4 d the sales orientation philosophy

5 e the societal concept

Which marketing management philosophy focuses on the question,

“What can we make or do best?”

Companies that rely on the marketing concept and that have

implemented a market orientation strategy recognize that:

1 a price is the most important variable for customers

2 b sales depend predominantly on an aggressive sales force

3 c what the customer thinks he or she is buying is what is important

4 d a company has to apply scientific management techniques to survive

5 e selling and marketing are essentially the same thing

The marketing concept stresses that the social and economic

justification for an organization’s existence is the satisfaction of

customer needs and wants while:

1 a producing a good or service at the lowest possible cost

2 b improving the general standard of living

3 c constantly increasing sales volumes

4 d applying scientific management techniques to improve efficiency

5 e simultaneously meeting organization objectives

Barry collects antique watches and has decided to sell a few of them on eBay Some of the watches he wants to sell are rare and very valuable What condition is necessary for an exchange to

occur between Barry and a buyer?

1 a His watch should have a certificate of authenticity.

2 b The opening bid must be lower than other watches being sold on the site.

3 c Buyers must provide payment before the item is shipped.

4 d Delivery must take place within 2 days of the purchase.

5 e Potential buyers must be able to see the watch and understand its qualities.

A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can

design, and what the company itself can do best, has a(n)

development of a product, its ability to communicate value, its

pricing policy, and the distribution strategy These activities are all a

1 a each party is capable of communication and delivery

2 b each party signs a contract before exchange occurs

3 c each party believes it is appropriate or desirable to deal with the others

4 d each party is to accept or reject the exchange offer

5 e each party must have something the other party considers to be valuable

A newspaper ad for a hospital that states, “We have the most

modern delivery rooms and stateofthe art medical equipment,” is an

indication of which marketing management philosophy?

For an exchange to take place:

1 a there must be at least two parties involved

2 b money must be used in the transaction

3 c each party must feel obligated to accept the offer

4 d at least one party must have something of value that the other party desires

5 e neither party must communicate with the other

If a company uses a sales orientation, consumer complaints would

most likely result in:

1 a a modification of the sales presentation

2 b product reinvention

3 c continuous market research

4 d philanthropy

5 e attempts to cut production costs

Which marketing management philosophy focuses on the question,

“How can we sell more aggressively?”

1 a Production

of their choice A(n) will occur when a movie fan mails in his or her

certificates for a movie

2 b exchange provides money to marketers

3 c marketing activities help to create exchange

4 d marketing activities are a requirement for exchange to take place

5 e money is the only medium of exchange for business marketers

An organization with a(n) believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals’ and society’s longterm best interests

1 a sales orientation

2 b market orientation

3 c ethical business mission

4 d focused target market strategy

5 e societal marketing orientation

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) orientation

A company adhering to the marketing concept will likely take which

of the following steps if it learned that its customers were

dissatisfied with its product?

1 a Hire more salespeople

2 b Decrease its organizational overhead

3 c Increase its advertising to underserved markets

4 d Increase the number of outlets in which the product is sold

5 e Conduct research to determine if its customers’ needs have changed

One facet of marketing is that it is:

1 a an approach that focuses on maximizing sales

2 b a short-term oriented approach to profit maximization

3 c an approach that requires diversity

4 d a philosophy that stresses customer satisfaction

5 e independent of value creation

The American Marketing Association’s definition of

marketing:

1 a is limited to promotional activities

2 b focuses on the value of empowerment, teamwork, and customer value

3 c shows how marketing benefits the marketer

4 d relies on the synergy created by exchange

5 e includes creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Firms with a orientation focus on the internal capabilities of the firm

rather than on the desires and needs of the marketplace

At the Lands’ End Web site, a customer can chat online with

customer service representatives while shopping This live help allows the customer to have questions answered before placing an order This focus on meeting customer needs illustrates a(n)

A company that has a market orientation and adheres to the

marketing concept does NOT:

1 a integrate all the activities of the firm to satisfy customer wants

2 b focus on consumer needs and wants

3 c differentiate the firm’s products from its competitor’s products

4 d fuel sales growth through the application of aggressive sales techniques

5 e concentrate on long-term goal achievement (such as profits and growth) for the firm

is a set of activities used to implement a management orientation

that stresses customer satisfaction

approach to achieving this goal?

1 a Reorganizing the company and making marketing its most important

department

2 b Hiring new salespeople to find new customers

3 c Expanding the advertising budget to make potential customers more aware

of its product offerings

4 d Creating cross-functional teams and instructing them to focus on creating greater customer value

5 e Hiring a new product development manager

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?

The orientation assumes people will buy more if aggressive selling

techniques are used

Which marketing management philosophy focuses on the question,

“What do customers want and need?”

wanted to be recognized for choosing Starbucks coffee So

Starbucks instituted the My Starbucks Reward program with

money-saving benefits to their Starbuck cardholders Starbucks is

an example of a company with a -oriented philosophy

Which marketing management philosophy is often adopted by

organizations that sell unsought products such as life insurance,

retirement plans, and preplanned funeral services?

gimmicks–– 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)

1 a do research on its customers, competitors, and markets

2 b determine how to deliver superior customer value

3 c establish and maintain mutually satisfying relationships with customers

4 d implement actions that provide value to customers

5 e do all of the activities listed

A firm with a production orientation is most likely to survive

if:

1 a there are many small competitors in the marketplace

2 b demand for the product it produces exceeds supply

3 c the needs of the marketplace are constantly shifting

4 d supply for the product it produces exceeds demand

5 e there are many large competitors in the marketplace

Indonesian logging companies harvest the rain forests for timber and assume that a market exists for their products The typical

Indonesian logging company has a(n) orientation

The marketing concept involves:

1 a focusing on customers’ wants and needs so that the organization can distinguish its product (or products) from competitors’ products

2 b satisfying management’s needs and wants with the idea of maximizing profits in the short run

3 c selling as much product as possible under the assumption people will buy more goods and services if aggressive selling techniques are used

4 d selling as much as possible under the assumption consumers will buy more

at lower prices

5 e focusing on production in order to increase product quality and lower prices

79 Test Bank for MKTG 8th Edition by Lamb Multiple Choice Questions - Page 2

Market-oriented firms primarily focus their efforts upon:

1 a improving the technological skills and competitive advantages of the firm

2 b satisfying the organization’s needs for low overhead

3 c achieving the company’s societal responsibilities inexpensively

4 d distributing goods and services

5 e satisfying the wants and needs of their customers

Walker Farms heard from many of its customers that they would like organic produce As a result, Walker Farms became a certified organic farm Walker realized that while not all consumers were willing to pay the higher prices for organic produce, his customers

wanted the organic produce Walker realized:

1 a he missed sales by not concentrating on the average customer

2 b different customer groups have different needs and wants

3 c he is a sales-oriented farm

4 d his business is about selling the cheapest vegetables

5 e his aim is a goal of profit through maximum sales volume

A firm that wants to develop a deeper understanding of its

customers may optimize profitiablity, revenue, and customer

satisfaction by focusing on highly defined and precise customer

groups This is:

1 a Customer optimization

2 b Customer Relationship Management

3 c Sales Orientation

4 d Sales Maximization

5 e Social orientation

Which marketing management philosophy focuses on the question,

“What do customers want and need, and how can we benefit

Fujifilm Computer Products has improved the efficiency and

productivity of its plant, which manufactures printing technology Forthe new fiscal year, the company projects a production increase of

25 percent and has instructed its sales force to aggressively

distribute and promote the product The CEO is sure the market willabsorb more product if the sales force is determined and assertive

Apparently Fujifilm:

1 a has an outward organizational focus on its customers wants and

preferences

2 b seeks its goals primarily through the use of intensive promotion

3 c directs its products to specific groups of people

4 d is in the business of satisfying customers

5 e profits through customer satisfaction

Which of the following is the customers’ evaluation of a good or service in terms of whether that good or service has met their needsand expectations?

Marketers interested in offering customer value can:

1 a offer products that it is skilled at making.

2 b sell to customers using facts and other sales pitches.

3 c offer organization-wide commitment to service and after-the-sale support.

4 d price as high as the market will bear.

5 e offer a large sales team to make cold calls.

The Geek Squad is a tech support station located inside every Best Buy electronics retail store Best Buy gives intensive training to the

Geeks The purpose of this training is to:

1 a improve customer service

2 b give higher education benefits to employees

3 c promote the company image by increasing public awareness

4 d reduce the need of empowerment

5 e increase employment levels

is the primary tool used by a sales-oriented organization to achieve

its corporate goals

What is the fundamental objective of most businesses?

1 a employee empowerment, teamwork, and relationship marketing

2 b satisfied stakeholders

3 c low costs and high quality

4 d customer loyalty and retention

5 e survival, profits, and growth

is a strategy that focuses on keeping and improving relationships

with current customers

gives customers the feeling their concerns are being addressed and

at the same time gives employees the feeling their expertise

matters to management

A market-oriented firm defines its business in terms of:

1 a goods and services

2 b the benefits its customers seek

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _ is

Target shoppers can enroll in the Take Charge of

Education® program so that Target will donate 1 percent of

purchases made with a consumer’s REDcard, a Target credit card The more money customers spend, the larger the donation to the consumer’s school of choice By instituting the Take Charge of Education® program to help local schools, Target has shown a

customers get the right buildings for their needs, and they all are

built well and in a timely manner By using teamwork, TUFF

SHED:

1 a operates successfully using a production orientation

2 b provides its customer with a high level of satisfaction

3 c has a high employee turnover rate

4 d does not deliver superior customer service

5 e has a sales orientation

is the collaborative efforts of people to achieve common

Which of the following statements about a typical sales-oriented

business is TRUE?

1 a The company develops its products to meet the needs of specific groups of people.

2 b The primary goal of the company is profit through customer satisfaction.

3 c The company invests the majority of its resources in promoting its products and services.

4 d The company is in business to satisfy customer wants and needs and deliver superior value.

5 e the company focuses on what it is good at making.

All of the following are good reasons to study marketing

EXCEPT:

1 a Marketing creates consumer needs.

2 b Marketing plays an important role in society, coordinating the huge

numbers of transactions needed to provide goods and services.

3 c Marketing is a key function in business.

4 d Marketing offers outstanding career opportunities.

5 e Marketing affects your day-to-day life as a consumer.

All of the following are basic marketing mix decisions