MKTG 3701 Final Exam || A+ Graded Already.
According to your text, what is the most basic concept in marketing? correct answers
determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT?
correct answers profit.
Daphne used to work in the city where she would take public transportation to work.
However, she just took a new job in the suburbs and now not only has to find a place to live,
but also has to buy a car to get to and from her job. For Daphne, these things represent?
correct answers a need.
In marketing, an exchange refers to? correct answers buyers and sellers trading things of
value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of
customer interests and hobbies so it can alert them to local events of relevance to them as
well as send them articles that pertain to their favorite activities. In addition, Outdoor
Adventures has added a section to their website where customers can post pictures of
themselves using the stores gear. These efforts illustrate how the firm is engaged in? correct
answers relationship marketing.
What is the premise behind the marketing concept? correct answers a focus on satisfying the
needs of the customer
A company that has a market orientation and adheres to the marketing concept does NOT?
correct answers fuel sales growth through the application of aggressive sales techniques
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? correct answers Each
party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to
retailers in the western United States. 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? correct
answers sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates
from the back panels of specially marked packages of Kelloggs cereals and then mail them
with the official order form. Within 90 days, these consumers will receive the movie of their
choice. _____________ will occur when a movie fan mails in his or her certificates for a
movie? correct answers exchange
, 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? correct answers
have someone study its target market to see what needs and wants should be met by Mimi
Couturier
One facet of marketing is that it is? correct answers a philosophy that stresses customer
satisfaction
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? correct answers production
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? correct answers production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a
leaking toilet, he gathered up materials totaling almost $70. One his way to check out, an
employee asked him what was he trying to fix. After some discussion, the employee
convinced the homeowner that a $5.99 replacement part would fix the problem better than the
materials he thought he needed and with less trouble. This sort of discussion between
employees and customers is commonplace at The Home Depot and indicates the retail store
has ______________ orientation? correct answers market
A good mission statement should? correct answers provide motivation for the employees of
the firm.
How do companies go about strategic marketing planning? correct answers marketing plan
All of the following are characteristics of a good objective EXCEPT? correct answers
profitable
Briggs & Stratton is a company that makes small engines. The company is looking at
customer trends, its competitors, and the economy to see if there are any threats or
opportunities on the horizon. It has also examined its production policies and sales histories
to determine its strengths and weaknesses. Briggs & Stratton is conducting? correct answers
situation analysis
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees.
He discussed their mission, defined objectives for the bank for the coming years, and shared
According to your text, what is the most basic concept in marketing? correct answers
determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT?
correct answers profit.
Daphne used to work in the city where she would take public transportation to work.
However, she just took a new job in the suburbs and now not only has to find a place to live,
but also has to buy a car to get to and from her job. For Daphne, these things represent?
correct answers a need.
In marketing, an exchange refers to? correct answers buyers and sellers trading things of
value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of
customer interests and hobbies so it can alert them to local events of relevance to them as
well as send them articles that pertain to their favorite activities. In addition, Outdoor
Adventures has added a section to their website where customers can post pictures of
themselves using the stores gear. These efforts illustrate how the firm is engaged in? correct
answers relationship marketing.
What is the premise behind the marketing concept? correct answers a focus on satisfying the
needs of the customer
A company that has a market orientation and adheres to the marketing concept does NOT?
correct answers fuel sales growth through the application of aggressive sales techniques
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? correct answers Each
party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to
retailers in the western United States. 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? correct
answers sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates
from the back panels of specially marked packages of Kelloggs cereals and then mail them
with the official order form. Within 90 days, these consumers will receive the movie of their
choice. _____________ will occur when a movie fan mails in his or her certificates for a
movie? correct answers exchange
, 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? correct answers
have someone study its target market to see what needs and wants should be met by Mimi
Couturier
One facet of marketing is that it is? correct answers a philosophy that stresses customer
satisfaction
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? correct answers production
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? correct answers production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a
leaking toilet, he gathered up materials totaling almost $70. One his way to check out, an
employee asked him what was he trying to fix. After some discussion, the employee
convinced the homeowner that a $5.99 replacement part would fix the problem better than the
materials he thought he needed and with less trouble. This sort of discussion between
employees and customers is commonplace at The Home Depot and indicates the retail store
has ______________ orientation? correct answers market
A good mission statement should? correct answers provide motivation for the employees of
the firm.
How do companies go about strategic marketing planning? correct answers marketing plan
All of the following are characteristics of a good objective EXCEPT? correct answers
profitable
Briggs & Stratton is a company that makes small engines. The company is looking at
customer trends, its competitors, and the economy to see if there are any threats or
opportunities on the horizon. It has also examined its production policies and sales histories
to determine its strengths and weaknesses. Briggs & Stratton is conducting? correct answers
situation analysis
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees.
He discussed their mission, defined objectives for the bank for the coming years, and shared
