Mark 3321 (1)

Which of the following statements is NOT true of marketing?

• Marketing focuses on practices that deliver value and benefits to customers.

• Marketing employs the combined use of communication, distribution, and pricing strategies

• Marketing involves building long-term, mutually rewarding relationships with customers.

• Marketing focuses primarily on selling goods, services, and/or ideas to customers.

Which of the following is a facet of marketing?

• Marketing focuses solely on selling services.

• Marketing focuses only on advertising.

•  

  Marketing is a philosophy.

  
  

•  

  Marketing focuses solely on selling goods.

  
  

Which of the following is NOT required for an exchange to take place?

•  

  Each party has something that might be of value to the other party.

  
  

•  

  Each party is free to accept or reject the exchange offer.

  
  

•  

  Each party is capable of communication and delivery.

  
  

•  

  There must be at least three parties.

  
  

A sales orientation is common for businesses selling products or services in _______.

•  

  markets with a low level of competition

  
  

•  

  situations that convince people to buy products they do not want

  
  

•  

  situations when intermediaries do not push manufacturers’ products

  
  

•  

  highly competitive markets

  
  

Identify the situation(s) in which a production-oriented firm can survive or prosper in the marketplace.

•  

  When competition is strong

  
  

•  

  When competition is weak

  
  

•  

  When demand equals supply

  
  

•  

  When supply exceeds demand

  
  

Which of the following activities is NOT required to achieve a market orientation?

•  

  Obtaining information about customers and competitors

  
  

•  

  Examining information about markets from a business perspective

  
  

•  

  Determining and implementing actions to provide and deliver added value to customers

  
  

•  

  Employing a high-quality sales force to aggressively promote goods and services

  
  

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as _______.

• teamwork

•  

  customer satisfaction

  
  

•  

  customer value

  
  

•  

  empowerment

  
  

All of the following are advantages of defining a firm’s mission in terms of benefits that customers seek except for which one?

•  

  Allowing management to focus on creating an aggressive sales force

  
  

•  

  Encouraging innovation, creativity, and developing new ways to satisfy customer expectations

  
  

•  

  Stimulating an awareness of changes in customer desires and preferences so that product offerings remain relevant

  
  

•  

  Keeping the firm focused on its customer, instead of becoming preoccupied with its internal needs

  
  

A _______ firm assumes that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product.

•  

  societal-oriented

  
  

•  

  market-oriented

  
  

•  

  sales-oriented

  
  

•  

  production-oriented

  
  

A company that creates a marketing strategy to attract consumers who want to interact anywhere and anytime and expect interactions with the company to be easy is most likely practicing _______.

•  

  on-demand marketing

  
  

•  

  societal-oriented marketing

  
  

•  

  innovation marketing

  
  

•  

  sales-oriented marketing