Principles of Marketing Quiz

Which of the following BEST defines marketing, according to the American Marketing Association (AMA)?

• Selling products to customers.

• Advertising and promotion.

• Creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• Focusing on the internal capabilities of the firm.

A marketing philosophy that focuses on a company's internal capabilities rather than the desires and needs of the marketplace is called:

• Sales orientation.

• Market orientation.

• Production orientation.

• Societal marketing orientation.

Which marketing management philosophy assumes that people will buy more goods and services if aggressive sales techniques are used?

• Production orientation.

• Sales orientation.

• Market orientation.

• Societal marketing orientation.

The marketing concept is BEST reflected in which of the following orientations?

• Production orientation.

• Sales orientation.

• Market orientation.

• Societal marketing orientation.

A company that adopts a societal marketing orientation focuses on:

• Aggressively promoting its products to maximize sales.

• Meeting organizational objectives while satisfying customer wants and needs and preserving or enhancing individuals' long-term best interests.

• Improving its production processes to reduce costs.

• Focusing solely on customer satisfaction.

According to A.G. Laffey, the 'customer is boss.' This statement emphasizes the importance of:

• Production efficiency.

• Sales techniques.

• Customer value and market insights.

• Internal capabilities.

Which of the following is the BEST definition of customer value?

• Offering the lowest possible price.

• Providing the highest quality product.

• The relationship between benefits and the sacrifice necessary to obtain those benefits.

• Ensuring customer satisfaction.

Customer satisfaction is defined as:

• Maximizing sales and profits.

• Meeting production quotas.

• Customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations.

• Aggressively pursuing new customers.

Relationship marketing focuses on:

• Attracting new customers through aggressive advertising.

• Keeping and improving relationships with current customers.

• Minimizing marketing expenses.

• Focusing on short-term sales gains.

Which of the following is NOT a key component of successful relationship marketing strategies?

• Customer-oriented personnel.

• Effective training programs.

• Employees with the authority to make decisions and solve problems.

• A focus on minimizing employee empowerment.