Principles of Marketing Quiz

What is Marketing?

• The activity of creating and delivering value

• A philosophy that stresses customer satisfaction

• A set of processes for exchanging offerings

• All of the above

What are the conditions for an exchange?

• At least two parties must be involved

• Something of value must be present

• Parties must be capable of communication

• All of the above

What is production orientation?

• Focus on internal capabilities of the firm

• Focus on customer needs

• Focus on aggressive sales techniques

• Focus on societal best interests

What is sales orientation?

• Belief in aggressive sales techniques

• Focus on customer satisfaction

• Focus on product quality

• Focus on market research

What is market orientation?

• Assumes sales depend on aggressive sales force

• Focuses on customer wants and needs

• Focus on internal capabilities

• Focus on societal marketing

What is societal marketing orientation?

• Focus on customer wants

• Focus on organizational objectives

• Focus on long-term best interests

• Focus on aggressive sales

Who is in charge in the current marketing landscape?

• Manufacturers

• Retailers

• Consumers

• Business users

What is customer value?

• The relationship between benefits and sacrifice

• The total cost of a product

• The price of a product

• The satisfaction derived from a product

What is customer satisfaction?

• Customers' evaluation of a good or service

• The price customers are willing to pay

• The number of products sold

• The quality of customer service

What is relationship marketing?

• A strategy that focuses on keeping and improving relationships with current customers

• A method to increase sales volume

• A way to reduce costs

• A technique for advertising