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Chapter 1 Quiz

MKT3350

  1. A marketing orientated firm does NOT include which trait?
  2. They analyze the market and divide the market into certain groups.
  3. They aim to sell products to a specific group of people.
  4. They look for what the customers are seeking.
  5. They give customers everything they want.
  1. What portion of the entire civilian workforce in the United States performs marketing activities?
  2. 1/4 to 1/3
  3. 1/2 to 3/4
  4. 1/3 to 1/2
  5. ½
  1. Which of the following is NOT one of the five conditions of exchange?
  2. Each party is free to accept or reject the exchange offer
  3. There must be two parties
  4. Each party believes it is appropriate or desirable to deal with the other party
  5. Each party must have money to trade in the exchange
  1. Which of the following philosophies focuses on the internal capabilities of the firm and is sometimes referred to as the “Field of Dreams” orientation?
  2. Sales Orientation
  3. Societal Marketing Orientation
  4. Production Orientation
  5. Market Orientation
  1. Which of the following is NOT included in the marketing concept?
  1. Focusing on customer wants and needs so that the organization can distinguish its products from competitors’ offerings.
  2. Use of aggressive sales techniques in order for people to buy more goods and services.
  3. Integrating the organization’s activities to satisfy customer wants.
  4. Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly.
  1. Which of the following is the focus of a sales-oriented firm?
  2. Internal focus on selling what the organization makes.
  3. Deriving their competitive advantage from an external focus.
  4. External focus on selling what the organization makes.
  5. Deriving their competitive advantage from an internal focus.
  1. Which of the marketing management philosophies focuses on internal capabilities of firm?
  2. Production
  3. Sales
  4. Market
  5. Societal
  1. Which of these are not apart of the Four P’s in the Marketing Mix?
  2. Price
  3. Place
  4. Presentation
  5. Promotion
  6. Product
  1. Which of the following is a part of the focus for marketing today?
  1. Value
  2. Quality
  3. Long term relationships
  4. Satisfaction
  5. All of the above
  1. Which of the following in NOT one of the four competing philosophies that strongly influence an organizations marketing processes?
  2. production orientation
  3. sales orientation
  4. market orientation
  5. pricing orientation
  1. The relationship between benefits and the sacrifice necessary to obtain those benefits is known as______
  2. marketing value
  3. customer value
  4. added value
  5. relationship marketing
  1. What is the idea that people will buy more goods and/or services if aggressive sales techniques are used and that high sales result in high profits?
  2. Sales orientation
  3. Marketing concept
  4. Market orientation
  5. Societal marketing orientation
  1. What is a company-wide business strategy designed to optimize profitability, revenue and customer satisfaction by focusing on highly defined and precise customer groups?
  2. Customer relation management
  3. Relationship marketing
  4. Customer value
  5. Market orientation
  1. In marketing, what constitutes as the ultimate source of operating income?
  2. Products
  3. Customers
  4. Sales
  5. Market
  1. Most successful marketing strategies depend on all the following but?
  2. Teamwork
  3. Customer- oriented personnel
  4. Groupthink
  5. Effective training programs
  1. What is the term used to describe the delegation of authority given to employees to solve customer problems on the spot?
    a. Customer Satisfaction
    b. Empowerment
    c. Customer Value
    d. Market Orientation
  1. Which of the following is NOT part of Learning Focus?
  2. Customer Responsiveness
  3. Customer Satisfaction
  4. Customer Relationship
  5. Customer Rating
  1. What is the goal for strategic planning?
  2. Short Run Profitability and Growth
  3. Long Run Profitability and Growth
  4. Short Run Profitability and Decline
  5. Long Run Profitability and Decline
  1. In what way can companies expand market share?
    a. Increasing business with existing customers
    b. Not building a relationship with customers
    c. Retaining current customers
    d. Both A and C
  1. All of these are fundamental objectives of a business except
  1. Survival
  2. Growth
  3. Profit
  4. Sales

Answers:

1. D

2.A

3. D

4. C

5. B

6. A

7. A

8. C

9. E

10. D

11. B

12. A

13. A

14. B

15. C

16. B

17. D

18. B

19. D

20. D

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