MAR2011 TEST 1 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
One facet of marketing is that it is:
a philosophy that stresses customer satisfaction
A business is concerned with many day-to-day activities. Some of the most
important of these activities are the planning and development of a product, its
pricing policy, and the distribution strategy. These activities are all a part of:
marketing
Colorado Silversmith creates and markets silver and turquoise jewelry, which it
sells to retailers in the western United States. The company's management
believes its retail customers will stock more jewelry if its salespeople use
aggressive marketing techniques, so the company provides strong incentives for
salespeople and promotional allowances to resellers to get distribution for its
jewelry. In other words, the company has a _____ orientation.
sales
An organization with a(n) _____ believes that it exists not only to satisfy customer
wants and needs and to meet organizational objectives but also to preserve or
enhance individuals' and society's long-term best interests.
societal orientation
Which of the following occurs when people give up something in order to receive
something that they would rather have?
, exchange
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 a(n) _____ orientation.
production
_____ is the managerial process of creating and maintaining a fit between the
organization's objectives and resources and evolving market opportunities.
strategic planning
Land O'Lakes makes a light butter with Canola oil that has sixty percent less
cholesterol and fifty percent less fat and calories than butter. This marketing
gives the product a _____.
competitive advantage
_____ is defined as the collection and interpretation of information about forces,
events, and relationships that may affect the organization.
environmental scanning
Tub King is a small company that refinishes antique claw foot bathtubs, antique
sinks, and provides training for bathtub refinishing. The company's management
is currently conducting a formal study of its current strengths and weaknesses
by looking at the company's profit and sales histories and searching for
COMPLETE SOLUTIONS GRADED A++
One facet of marketing is that it is:
a philosophy that stresses customer satisfaction
A business is concerned with many day-to-day activities. Some of the most
important of these activities are the planning and development of a product, its
pricing policy, and the distribution strategy. These activities are all a part of:
marketing
Colorado Silversmith creates and markets silver and turquoise jewelry, which it
sells to retailers in the western United States. The company's management
believes its retail customers will stock more jewelry if its salespeople use
aggressive marketing techniques, so the company provides strong incentives for
salespeople and promotional allowances to resellers to get distribution for its
jewelry. In other words, the company has a _____ orientation.
sales
An organization with a(n) _____ believes that it exists not only to satisfy customer
wants and needs and to meet organizational objectives but also to preserve or
enhance individuals' and society's long-term best interests.
societal orientation
Which of the following occurs when people give up something in order to receive
something that they would rather have?
, exchange
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 a(n) _____ orientation.
production
_____ is the managerial process of creating and maintaining a fit between the
organization's objectives and resources and evolving market opportunities.
strategic planning
Land O'Lakes makes a light butter with Canola oil that has sixty percent less
cholesterol and fifty percent less fat and calories than butter. This marketing
gives the product a _____.
competitive advantage
_____ is defined as the collection and interpretation of information about forces,
events, and relationships that may affect the organization.
environmental scanning
Tub King is a small company that refinishes antique claw foot bathtubs, antique
sinks, and provides training for bathtub refinishing. The company's management
is currently conducting a formal study of its current strengths and weaknesses
by looking at the company's profit and sales histories and searching for
