MKTG 409 Chp 1 Quiz

Which of the following forms a part of distribution decisions for a firm?
making products available in the quantities desired to as many target market customers as possible
The _____ variable of the marketing mix relates to activities used to inform individuals or groups about the organization and its products.
promotion
Which of the following is most likely part of the promotion activities in a firm’s marketing mix?
a. Increasing public awareness of the organization and of its new or existing products
The marketing department of Fashionweek magazine decided to make its subsequent editions available at a discounted rate to new subscribers to encourage them to buy the magazine. This is an example of a marketing activity related to the _____ variable of the marketing mix.
Price
_____ refers to a customer’s subjective assessment of benefits relative to costs in determining the worth of a product.
Value
A(n) _____ is the provision or transfer of goods, services, or ideas in return for something of value.
Exchange
Which of the following is an example of an exchange?
jen gave pete 20 for painting her room
Which of the following is true of an exchange?
an exchange can occur only when each party has confidence in the promise of the value held by the other
Which of the following is true of the marketing environment?
The marketing environment forces affect the lifestyles of constumers
According to the marketing concept, an organization should:
should have customer satisfaction as its major focus
During the second half of the 19th century, when the production orientation was predominant, companies greatly emphasized:
mass production
The _____ orientation for firms arose during the Industrial Revolution in the U.S., when manufactured goods poured into the marketplace as a result of assembly-line manufacturing, electricity, and rail transportation.
production
When Grace first opened her patisserie, she focused only on baking as many muffins as possible regardless of what her customers wanted. Grace’s approach of baking as many muffins as possible is most closely associated with _____ orientation for firms.
produciton
Businesspeople who adopted a _____ orientation believed that the most important marketing activities were advertising and distribution.
sales
Libra Electronics Corp. conducts thorough research to understand the needs and preferences of its customers. Through comprehensive research activities, the company has found out that customers prefer energy-efficient and environment-friendly washing machines. All the departments in the organization are now focusing on developing products that meet these needs. Libra Electronics is most likely to have a _____ orientation.
market
According to the market orientation, _____.
marketers should determine customer needs and respond to it
Bill, Glen’s financial advisor, has always sent birthday cards with a personal message to every member of Glen’s family. Bill also ensures to offer well-informed, customized financial advice. For every major financial decision, Bill’s help is sought. This scenario illustrates _____ marketing.
relationship
_____ marketing focuses on building and using databases and leveraging technologies to identify strategies and methods that will maximize the lifetime value of each desirable customer to the company.
Relationship
customer lifetime value
refers to the net profit or loss that is expected in the future from a customer relationship
Identify an accurate statement about marketing.
government agencies also engage in marketing activities
A company has decided to package its products in waxed paper and bio-degradable plastic owing to increasing consumers’ concern about plastics and their adverse environmental impact. This is an example of:
green marketing
focal point of all marketing activities
customers
specific group of customers on whom an organization focuses its marketing efforts is the organizations
target market
The four marketing activities—product, pricing, promotion, and distribution—that a firm can control to meet the needs of its customers are known as the firm’s _____.
marketing mix
Which of the following forms a part of the product variable decisions in a firm’s marketing mix?
researching customer needs and designing a product that satisfies them