MKTG 3701 FINAL EXAM QUESTIONS
WITH 100% CORRECT ANSWERS
\.Mimi Couturier is a design company that specializes in formalwear for women.
The company is known for challenging fashion mores. The fashion designers use
computer assisted design software to create what it thinks women should wear.
The company regularly hires industry experts to examine its factories to find waste
and inefficiencies that can be eliminated. The company has expanded the number
of products it offers for sale many times. However, for the last two years Mimi
Couturier has lost money, and it has had to lay off some of its workforce. To avoid
this occurrence in the future, Mimi Couturier should? - ANSWERS-have someone
study its target market to see what needs and wants should be met by Mimi
Couturier
\.According to your text, what is the most basic concept in marketing? -
ANSWERS-determining the difference between consumer needs and wants
\.Researchers at PPG Industries spent considerable time, effort, and money
developing a bluish windshield that would let in filtered sunlight but block out the
heat. Little market research was done, but the scientists were convinced this new
product would be significantly better than existing windshields even though it was
more expensive and of a different color than the current models on the market.
This scenario suggests PPG most likely has ________________ orientation? -
ANSWERS-production
, \.All of the following are elements contained in the 4 Ps of the marketing mix
EXCEPT? - ANSWERS-profit
\.In marketing, an exchange refers to? - ANSWERS-buyers and sellers trading
things of value so that each is better off as a result.
\.A problem facing the timber industry is the absence of any effective way to
prove that rain forest timber has been legally harvested. In places like Indonesia,
as much as 80 percent of timber available for sale is illegally cut. Companies like
The Home Depot do not want to sell timber from illegally logged forests even
though the demand is great for timber from rain forests. Which of the following
conditions required for an exchange to occur is missing when a company tries to
sell illegally acquired logs to The Home Depot? - ANSWERS-Each party believes it
is appropriate to deal with the other party.
\.What is the premise behind the marketing concept? - ANSWERS-a focus on
satisfying the needs of the customer
\.Toyota found that consumers wanted cars to last longer and be more
environmentally friendly. GM, however, enjoyed being the top U.S. car producer
and focused more on how many cars and trucks it could manufacture, not on what
customers wanted from a vehicle. GM had more of a ____________ orientation? -
ANSWERS-production
\.A company that has a market orientation and adheres to the marketing concept
does NOT - ANSWERS-fuel sales growth through the application of aggressive sales
techniques
WITH 100% CORRECT ANSWERS
\.Mimi Couturier is a design company that specializes in formalwear for women.
The company is known for challenging fashion mores. The fashion designers use
computer assisted design software to create what it thinks women should wear.
The company regularly hires industry experts to examine its factories to find waste
and inefficiencies that can be eliminated. The company has expanded the number
of products it offers for sale many times. However, for the last two years Mimi
Couturier has lost money, and it has had to lay off some of its workforce. To avoid
this occurrence in the future, Mimi Couturier should? - ANSWERS-have someone
study its target market to see what needs and wants should be met by Mimi
Couturier
\.According to your text, what is the most basic concept in marketing? -
ANSWERS-determining the difference between consumer needs and wants
\.Researchers at PPG Industries spent considerable time, effort, and money
developing a bluish windshield that would let in filtered sunlight but block out the
heat. Little market research was done, but the scientists were convinced this new
product would be significantly better than existing windshields even though it was
more expensive and of a different color than the current models on the market.
This scenario suggests PPG most likely has ________________ orientation? -
ANSWERS-production
, \.All of the following are elements contained in the 4 Ps of the marketing mix
EXCEPT? - ANSWERS-profit
\.In marketing, an exchange refers to? - ANSWERS-buyers and sellers trading
things of value so that each is better off as a result.
\.A problem facing the timber industry is the absence of any effective way to
prove that rain forest timber has been legally harvested. In places like Indonesia,
as much as 80 percent of timber available for sale is illegally cut. Companies like
The Home Depot do not want to sell timber from illegally logged forests even
though the demand is great for timber from rain forests. Which of the following
conditions required for an exchange to occur is missing when a company tries to
sell illegally acquired logs to The Home Depot? - ANSWERS-Each party believes it
is appropriate to deal with the other party.
\.What is the premise behind the marketing concept? - ANSWERS-a focus on
satisfying the needs of the customer
\.Toyota found that consumers wanted cars to last longer and be more
environmentally friendly. GM, however, enjoyed being the top U.S. car producer
and focused more on how many cars and trucks it could manufacture, not on what
customers wanted from a vehicle. GM had more of a ____________ orientation? -
ANSWERS-production
\.A company that has a market orientation and adheres to the marketing concept
does NOT - ANSWERS-fuel sales growth through the application of aggressive sales
techniques
