Practice Exam (CMMS)

According to the AMA, marketing is primarily concerned with:

• Selling products at a low price

• Creating, communicating, and delivering value

• Organizing production lines

• Offering discounts to customers

Which of the following is NOT a required condition for an exchange?

• At least two parties involved

• Each party must have something of value

• Each party is free to accept or reject

• Both parties must use money

The philosophy that focuses on internal capabilities of the firm rather than customer needs is:

• Sales Orientation

• Production Orientation

• Market Orientation

• Societal Marketing Orientation

Which orientation emphasizes satisfying customer wants while also preserving society’s long-term interests?

• Production Orientation

• Sales Orientation

• Market Orientation

• Societal Marketing Orientation

Customer value refers to:

• Total cost of production

• Benefits received versus sacrifice made

• Number of competitors in the market

• Company profits

Relationship marketing focuses on:

• One-time transactions

• Aggressive selling

• Keeping and improving customer relationships

• Reducing production costs

IKEA’s mission “To create a better everyday life for the many people” is an example of a:

• Sales-oriented mission

• Product-oriented mission

• Market-oriented mission

• Production-oriented mission

Strategic planning’s main goal is:

• Short-term sales

• Long-run profitability and growth

• Cutting costs

• Launching social media ads

The Ansoff strategy of attracting new customers to existing products is called:

• Market Penetration

• Market Development

• Product Development

• Diversification

When a yogurt brand introduces plant-based milk products for existing markets, this is:

• Market Development

• Product Development

• Diversification

• Sales Orientation