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J320 exam 1
Terms in this set (20)
Which of the following statements is true of the marketing concept?
a. It states that marketing solely means selling things and collecting money
b. It states that an organization should satisfy customer wants and needs while meeting organizational objectives
c. It overlooks the importance of understanding the competitive arena and strengths and weaknesses of competition
d. It states that firms should give maximum importance to aggressive promotional advertising activities
Sky High Builders is a sustainable construction company that uses eco-friendly materials to repair or construct infrastructure in the city. The company's products are made from recycled plastic. In this scenario, Sky High Builders best illustrates a _____.
a. sales orientation
b. market orientation
c. societal marketing orientation
d. production orientation
What percent of every dollar you spend goes toward covering marketing costs such as research, development, advertising and sales expenses?
a. 10 percent
b. 50 percent
c. 75 percent
d. 25 percent
Researchers at Fresnas Inc. invented a new form of glass that filters harmful rays of sunlight and blocks heat. Without researching the market conditions, Fresnas Inc. went ahead and manufactured windshields with the new glass. It hopes that customers will like its new product. In this scenario, Fresnas Inc. has adopted a _____.
a. product orientation
b. market orientation
c. societal marketing orientation
d. sales orientation
Happy Holidaze International, a chain of hotels and resorts, keeps in constant touch with its existing customer network over social media. Every holiday season, it ensures that its customers are aware and informed about what the company has in store for them. This is an example of _____.
a. relationship marketing
b. guerrilla marketing
c. traditional marketing
d. societal marketing
Which of the following statements is true of a sales orientation?
a. consumers can be convinced to buy goods or services even though they do not need them
b. sales oriented firms understand the needs and wants of the marketplace.
c. sales oriented firms give maximum emphasis to society's long term best interests
d. intermediaries are encouraged to push manufacturers' products aggressively
Identify a true statement about production-oriented firms.
a. they determine what products their customers want and then produce them
b. they lack an understanding of the needs and wants of the marketplace
c. they do not focus on their internal capabilities
d. they focus on their customers and have quick cycle times
Which of the following statements is true of customer relationship management?
a. It involves targeting the average customer or everybody
b. It involves establishing and tracking customer interactions with the company
c. It is used by sales oriented firms to convince customers to buy their products
d. It considers all customers as one large group that should be targeted with a single promotional strategy
The management of Leyton Electronics Inc. always favors market orientation over the other marketing management philosophies. In this case, which of the following is most likely to be true of Leyton Electronics Inc.?
a. Leyton Electronics overlooks the importance of market research
b. Leyton lacks an understanding of Its competitors' strengths and weaknesses
c. Leyton satisfies Its customers' wants and needs legally and responsibly
d. Leyton manufactures products that are similar to its competitors' offerings
Nessca Corp. manufactures electronic gadgets. It instructs its marketing team to competitively advertise and promote its gadgets. The company, instead of believing in market research, believes that the market will absorb more products if customers are made aware of the products. The workforce of Nessca Corp. is most likely to:
a. assume that sales depend on a customer's decision to purchase a product
b. be inward looking, focusing on selling what the firm makes
c. take responsibility for its customers' well-being and interests
d. focus on determining the needs of its customers rather than selling aggressively
Business firms can stimulate innovation by:
a. talking to late adopters
b. letting employees know that they have the freedom to fail
c. hiring employees who have a low risk tolerance
d. using micromanagement techniques
Peter is conducting research to develop an engine that could run on water. His research is aimed at formulating a combustion process that could be used in commercial vehicles so that vehicles could run on water. Peter's research is an example of _____.
a. experimental research
b. applied research
c. basic research
d. controlled research
Zappy Toys, a toy manufacturing company, opened one of its stores in Zuell, a quiet suburban area. The suburban area is populated mostly with older individuals and retirement homes. The company expected to sell lots of toys. However, the people living in Zuell did not seem interested in the store and rarely visited it. In this scenario, Zappy Toys failed to understand the impact of _____ on its business.
a. social factors
c. political factors
d. social media
Which of the following is true of American teenagers?
a. they prefer Tumblr and Instagram to Facebook
b. they spend about six hours per week tuned into electronic media
c. they make the largest cohort group
d. they prefer face-to-face communication to communicating electronically
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the storage facilities at the outlet did not meet the standards set by the government. In this scenario, a(n) _____ factor affected Hydralicious's business.
Martha visits a departmental store and discovers that a box of exotic candles will cost her ten percent more than what she had paid six months ago. The increase in prices is same across the country. In this scenario, which of the following statements is true?
a. the candles' subjective value increases with the increase in inflation
b. she has to pay twelve percent more than what she paid last month
c. the departmental store is trying to earn profits by increasing the price of its goods
d. she will have immediate purchasing power if she had a pay raise to match the inflation
James earns $3,000 per month. If his overall cost of living is $1,700, his purchasing power ____.
Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of the interviewees, Martha, shares information about herself. In this case, which of the following information shared by Martha is a demographic characteristic?
a. she prefers to use electronic gadgets of only one particular brand
b. she is very creative when It comes to cooking
c. She lives in Manhattan
d. she believes in social service
John bought a new set of rechargeable batteries and plugged them into their charger to charge them before initial use. The batteries were charged for three hours. Subsequently, he noticed that the battery acid had started oozing out. In this scenario, John could lodge a complaint with the _____ against the battery manufacturer.
a. Food and Drug Administration
b. Consumer Product Safety Commission
c. World Health Organization
d. Federal Trade Commission
Unlike people who belong to Generation X, baby boomers
a. Graduated from college during the Great Recession
b. spend less on gifts, personal care products, medical care, food away from home, and entertainment
c. do not use social media or other technologies to buy products
d. tend to be more influenced by traditional advertising and word of mouth recommendations
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