Marketing Test 1 (Ch. 1)

One facet of marketing is that it is…
A philosophy that stressed customer satisfaction
A business is concerned with many day to day activities. Some of the most important of these activities are the planning and development of a product, its pricing policy, and the distribution strategy. These activities are all a part of:
Marketing
What are the 2 Facets of marketing?
-a philosophy
-an attitude

-a perspective
-a marketing orientation

Activities and processes that implement the two facets are know as…
The 4Ps- Marketing Mix
What are the 4Ps?
Products, Promotion, Place/distribution, Pricing
What is marketing?
Employee satisfaction
*Satisfying employees is the 1st step*
Which of the following occurs when people give up something in order to receive something that they would rather have?
Exchange
The concept of exchange is important to marketing because:
Marketing activities help to create exchange
All of the following are marketing management philosophies EXCEPT:
Profitability orientation
What are the four marketing management philosophies?
Production orientation, sales orientation, market orientation, societal orientation
A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation.
Production
The ___ orientation assumes people will buy more if aggressive selling techniques are used.
Sales
Which marketing management philosophy is often adopted by organizations that sell unsought products such as life insurance, retirement plans, and pre-planned funeral services?
Sales orientation
Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used?
Sales
Which marketing management philosophy assumes that a safe does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product?
Market orientation
An organization with a(n) __ believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals’ and society’s long term best interests.
Societal marketing orientation
What is the focus on in production orientation?
On the internal capabilities of the firm.
-unique product
-what can we make or do best
What is the focus on in sales orientation?
On aggressive sales techniques and the belief that high sales result in high profits.
-things that aren’t necessary (insurance, retirement plans, etc.)
– “how can we sell more aggressively?”
What is the focus on in market orientation?
On satisfying customer needs and wants while meeting objectives.
-most popular
-“what do customers want and need?”
What is the focus on in societal orientation?
On satisfying customer needs and wants while enhancing individual and societal well-being (green)
-best for society
-“what do customers want and need, and how can we benefit society?”
A company that wants to implement a market orientation would need to…
Do research on its customers, competitors, and markets, determine how to deliver superior customer value, establish and maintain mutually satisfying relationships with customers, and implement actions that provide value to customers.
When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, __ is created.
Customer satisfaction
High customer satisfaction occurs in firms where:
Employees know their jobs affect customer satisfaction
__ is a strategy that focuses on keeping and improving relationships with current customers.
Relationship marketing
Most successful relationship marketing strategies depend on:
Customer-oriented personnel, effective training programs, employees with authority to make decisions and solve problems, and teamwork
What is the primary profit goal of sales orientation?
Maximum sales volume
What is the primary profit goal of market orientation?
Customer satisfaction
All of the following are good reasons to study marketing except:
Marketing creates consumer needs