Principles of Marketing Exam with Complete Solutions

Principles of Marketing Exam with Complete Solutions _______ refers to determining what information is needed and how that information can be obtained efficiently and effectively. a) The management decision problem b) The marketing research objective c) Secondary data d) The marketing research problem ANSWER The marketing research problem Marketing can occur even if an exchange does not occur. When Sally Rodriguez sold her car, she put an ad in the local newspaper and allowed potential customers to test drive the vehicle. Sally engaged in marketing by _______, even if no one bought her used automobile. a) advertising b) hiring a used car dealer c) preparing the car for sale d) considering a replacement vehicle ANSWER advertising Describe the four marketing management philosophies ANSWER 1. production orientation- focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace Ex: Gillette 2. sales orientation- a belief that people will buy more products if aggressive sales techniques are used Ex: car salesmen 3. market orientation- sales depend on a customer's decision to purchase a product Ex: Apple