Unit 1 Marketing Principles - Chapter 1 and 2 Practice Exam

Front

Which of the following is the definition of marketing?

Back

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.

Front

We "give up" money to "get" the goods and services we want. Giving up something in order to receive something else is an example of the basic marketing principle of _______.

Back

exchange

Front

According to the _______, an organization exists not only to satisfy customer wants and needs but also to preserve or enhance individuals’ and the community’s long-term best interests.

Back

societal marketing orientation

Front

When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the _______ orientation.

Back

production

Front

With the help of an effective sales force that implements aggressive sales techniques, a sales-oriented firm attempts to convince customers to purchase products that they may not want or need.

Back

True

Front

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as:

Back

customer value

Front

Shelly is looking to purchase a new car. She knows from her marketing class, that she should research the different models she is interested in and evaluate the alternatives before making such a large purchase. This demonstrates which reason to study marketing?

Back

Marketing is part of everyday life

Front

Omega Inc. offers a wide range of home appliances. The company's main objective is to promote its products aggressively so that it gains high profits. Omega Inc. employs a team that is specifically assigned with the task of ensuring that a large number of products are sold. In this scenario, Omega Inc. is most likely to be a _____ firm.

Back

sales-oriented

Front

Magnira Corp., an online fashion retailer, frequently takes design submissions from its users, evaluates them, and produces the ones that most closely fit the seasonal look. It focuses on its customer's needs and on what its competitors offer. In this scenario, Magnira Corp. has adopted a _____?

Back

marketing orientation

Front

The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called _____

Back

customer satisfaction