MKTG 409 EXAM 1 QUESTIONS AND ANSWERS
_____________ are the focal point of all marketing activities. - Answers - Customers
The specific group of customers on whom an organization focuses its marketing efforts
is the organization's ________ - Answers - 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 __________. -
Answers - Marketing Mix
Which of the following forms a part of the product variable decisions in a firm's
marketing mix? - Answers - Researching customer needs and designing a product that
satisfies them.
Which of the following forms a part of distribution decisions for a firm? - Answers -
Making products available in the quantities desired for 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. - Answers - Promotion
Which of the following is most likely part of the promotion activities in a firm's marketing
mix? - Answers - Increasing public awareness of the organization and of it's 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. - Answers - Price
____________ refers to a customers subjective assessment of benefits relative to costs
in determining the worth of a product. - Answers - Value
A(n) ___________ is the provision or transfer of goods, service, or ideas in return for
something of value. - Answers - Exchange
Which of the following is an example of an exchange? - Answers - Jennifer gave Peter
$20 for painting her room.
Which of the following is true of an exchange? - Answers - 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? - Answers - The marketing
environment forces affect the lifestyles of customers
, According to the marketing concept, an organization should: - Answers - Should have
customer satisfaction as it's major focus.
During the second half of the 19th century, when the production orientation was
predominant, companies greatly emphasized: - Answers - 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. - Answers - 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 clearly associated with _______ orientation for firms. -
Answers - Production
Businesspeople who adopted a _________ orientation believed that the most important
marketing activities were advertising and distribution. - Answers - 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. - Answers - Market
According to the market orientation, _____________. - Answers - 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. - Answers - Relationship
_______ marketing focuses on building and uses databases and leveraging
technologies to identify strategies and methods that twill maximize the lifetime value of
each desirable customer to the company. - Answers - Relationship
Customer lifetime value: - Answers - Refers to the net profit or loss that is expected in
the future form a customer relationship.
Identify an accurate statement about marketing - Answers - Government agencies also
engage in marketing activities.
_____________ are the focal point of all marketing activities. - Answers - Customers
The specific group of customers on whom an organization focuses its marketing efforts
is the organization's ________ - Answers - 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 __________. -
Answers - Marketing Mix
Which of the following forms a part of the product variable decisions in a firm's
marketing mix? - Answers - Researching customer needs and designing a product that
satisfies them.
Which of the following forms a part of distribution decisions for a firm? - Answers -
Making products available in the quantities desired for 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. - Answers - Promotion
Which of the following is most likely part of the promotion activities in a firm's marketing
mix? - Answers - Increasing public awareness of the organization and of it's 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. - Answers - Price
____________ refers to a customers subjective assessment of benefits relative to costs
in determining the worth of a product. - Answers - Value
A(n) ___________ is the provision or transfer of goods, service, or ideas in return for
something of value. - Answers - Exchange
Which of the following is an example of an exchange? - Answers - Jennifer gave Peter
$20 for painting her room.
Which of the following is true of an exchange? - Answers - 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? - Answers - The marketing
environment forces affect the lifestyles of customers
, According to the marketing concept, an organization should: - Answers - Should have
customer satisfaction as it's major focus.
During the second half of the 19th century, when the production orientation was
predominant, companies greatly emphasized: - Answers - 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. - Answers - 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 clearly associated with _______ orientation for firms. -
Answers - Production
Businesspeople who adopted a _________ orientation believed that the most important
marketing activities were advertising and distribution. - Answers - 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. - Answers - Market
According to the market orientation, _____________. - Answers - 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. - Answers - Relationship
_______ marketing focuses on building and uses databases and leveraging
technologies to identify strategies and methods that twill maximize the lifetime value of
each desirable customer to the company. - Answers - Relationship
Customer lifetime value: - Answers - Refers to the net profit or loss that is expected in
the future form a customer relationship.
Identify an accurate statement about marketing - Answers - Government agencies also
engage in marketing activities.
