MKT 271, Ch 1-2, Quiz 1

A market-oriented firm:

a) defines its mission in terms of the benefits its customers seek.
b) targets the average customer.
c) is highly centralized.
d) defines its business in terms of the goods and services it produces.

a) defines its mission in terms of the benefits its customers seek.
In the context of marketing planning, implementation requires:
a) micromanagement strategies.
b) anticompetitive strategies.
c) centralization of the firm.
d) delegating authority to employees.
d) delegating authority to employees.
A sales-oriented firm places minimal emphasis on:

a) promotional strategies.
b) building long-term customer relationships.
c) pricing strategies.
d) personal selling and direct selling activities.

b) building long-term customer relationships.
Which of the following statements is true of customer relationship management?

a) It involves targeting the average customer or everybody.
b) It involves establishing and tracking customer interactions with the company.
c) It considers all customers of the firm as one large group that should be targeted with a single promotional strategy.
d) It is used by sales-oriented firms to convince customers to buy their products.

b) It involves establishing and tracking customer interactions with the company.
A firm that extensively uses relationship-marketing strategies is most likely to:

a) focus on the internal rather than the external business environment.
b) rely on aggressive sales strategies.
c) be highly centralized.
d) encourage teamwork among employees.

d) encourage teamwork among employees.
Of the following questions that companies consider, which best aligns with the production orientation philosophy?

a) “What are the product preferences of our customers?”
b) “How can we sell our products more aggressively?”
c) “What can our engineers design?”
d) “How can we gather more information about customer needs?”

c) “What can our engineers design?”
The price component of a marketing mix is:

a) a competitive weapon for companies.
b) decided after the promotion strategies are finalized.
c) the starting point of the marketing mix.
d) the least flexible element of the marketing mix.

a) a competitive weapon for companies.
Companies can make strategic planning more effective by:

a) ensuring the participation of top management.
b) ensuring that decision-making is centralized.
c) making strategic planning an annual exercise.
d) avoiding cross-functional teams.

a) ensuring the participation of top management.
Mitchell’s is a popular brand of women’s clothing. During market research, the company observed that a large number of its existing customers believe and promote the use of sustainable goods. Based on findings of the research, the top management of the company decides to use eco-friendly raw materials in manufacturing their clothes. Which of the following strategies is Mitchell’s using in this scenario?

a) Market development
b) Cost leadership
c) Product differentiation
d) Market penetration

c) Product differentiation
Which of the following statements is true about on-demand marketing?

a) It requires firms to focus on the internal rather than the external business environment.
b) It gives maximum emphasis to aggressive personal selling strategies.
c) It is aimed at enhancing customer relationships.
d) It is used by sales-oriented firms.

c) It is aimed at enhancing customer relationships.