Question 1

The _________ is the set of benefits or values a company promises to deliver to customer to satisfy their needs.

Accepted Answer

The answer of The _________ is the set of benefits...

Question 2

Cathy's Clothes is a small retail chain successfully selling women's clothing and accessories with a profitable focus on buyers who have relatively modest means.This is an example of ________

Accepted Answer

The answer of Cathy's Clothes is a small retail chain...

Question 3

The product concept says that a company should do which of the following?
A)	Improve marketing of its best products
B)	Market only those products with high customer appeal
C)	Focus on the target market and make products that meet those customers' demands
D)	Focus on making continuous product improvements
E)	Make promoting products the top priority

Accepted Answer

The product concept emphasizes that a company should focus on making continuous improvements to its products, under the belief that high-quality, innovative products will meet customer needs and therefore sell themselves.

Question 4

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality,performance,and innovative features.

Accepted Answer

The answer of The ________ concept is aligned with the...

Question 5

Which of the following marketing management orientations focuses primarily on improving production and distribution efficiency?
A)	Production concept
B)	Product concept
C)	Selling concept
D)	Marketing concept
E)	Social marketing concept

Accepted Answer

The production concept is centered on the belief that improving production and distribution efficiency is key to meeting organizational goals. It assumes that consumers prioritize availability and affordability, leading companies to focus on streamlining operations to reduce costs.

Question 6

Customer-driven marketing usually works well when ________ and when customers ________.

Accepted Answer

The answer of Customer-driven marketing usually works well when ________...

Question 7

Though often criticized,the selling concept is particularly appropriate and effective with which of the following types of products?
A)	Convenience
B)	Shopping
C)	Specialty
D)	Unsought
E)	Luxury

Accepted Answer

The selling concept is most effective with unsought products—those that buyers do not normally think of buying, such as insurance or blood donations. This approach is used because these products require aggressive selling and promotional efforts.

Question 8

Under the marketing concept,________ are the paths to sales and profits.

Accepted Answer

The answer of Under the marketing concept,________ are the paths...

Question 9

Which of the following reflects the marketing concept philosophy?
A)"We don't have a marketing department; we have a customer department."
B)"We're in the business of making and selling superior products."
C)"We build them so you can buy them."
"When it's profits versus customers' needs, profits will always win out."
D)"You won't find a better deal anywhere."

Accepted Answer

The marketing concept philosophy focuses on identifying and meeting the needs and desires of customers. Choice A, "We don't have a marketing department; we have a customer department," best reflects this philosophy by emphasizing the importance of prioritizing the customer's needs and integrating them into the core operations of the business, rather than focusing solely on the product, sales, or profits.

Question 10

Which of the following marketing management orientations is most likely to lead to marketing myopia?
A)	Customer-driven marketing
B)	Production concept
C)	Social marketing
D)	Selling concept
E)	Customer-driven marketing.

Accepted Answer

The production concept focuses on high production efficiency and wide distribution, often neglecting customer needs and leading to marketing myopia.

Question 11

"Build a better mousetrap,the world will beat a path to your door" reflects the ________ concept.

Accepted Answer

The answer of "Build a better mousetrap,the world will beat...

Question 12

According to the production concept,consumers will favour products that are ________ and ________.

Accepted Answer

The answer of According to the production concept,consumers will favour...

Question 13

Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
A)	Product
B)	Production
C)	Selling
D)	Marketing
E)	Equity

Accepted Answer

The concept described is the essence of marketing, which focuses on understanding the needs and wants of target markets and aims to fulfill those needs more effectively than competitors.

Question 14

A company's value proposition should answer this question:
A)	"What kind of experience will I have with products and services associated with this brand?"
B)	"How does your brand benefit me and society?"
C)	"What are the costs and benefits of your brand?"
D)	"Why should I buy your brand rather than a competitor's?"
E)	"What are the benefits of being a loyal consumer of your brand?"

Accepted Answer

A value proposition explains why a customer should choose one brand over its competitors, focusing on the unique value the brand offers.

Question 15

Railroads were once operated based on the thinking that users wanted trains rather than transportation,overlooking the challenge of other modes of transportation.This reflects the ________ concept.

Accepted Answer

The answer of Railroads were once operated based on the...

Question 16

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)________ perspective.

Accepted Answer

The answer of Herb Kelleher of Southwest Airlines used the...

Question 17

The art and science of choosing target markets and building profitable relationships with them is called ________.

Accepted Answer

The answer of The art and science of choosing target...

Question 18

A firm that uses the selling concept takes a(n)________ approach.

Accepted Answer

The answer of A firm that uses the selling concept...

Question 19

Which concept calls for aggressive selling and focuses on creating sales transactions rather than on building long-term customer relationships?
A)	Product
B)	Production
C)	Selling
D)	Societal marketing
E)	Marketing

Accepted Answer

The selling concept emphasizes aggressive sales techniques and the belief that high sales result in high profits, without necessarily focusing on building long-term relationships with customers.

Question 20

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability.This reflects the ________ concept

Accepted Answer

The answer of Henry Ford's philosophy was to perfect the...

Quiz 1: Marketing: Creating and Capturing Customer Value

The _________ is the set of benefits or values a company promises to deliver to customer to satisfy their needs.

Cathy's Clothes is a small retail chain successfully selling women's clothing and accessories with a profitable focus on buyers who have relatively modest means.This is an example of ________

The product concept says that a company should do which of the following?

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality,performance,and innovative features.

Which of the following marketing management orientations focuses primarily on improving production and distribution efficiency?

Customer-driven marketing usually works well when and when customers .

Though often criticized,the selling concept is particularly appropriate and effective with which of the following types of products?

Under the marketing concept,________ are the paths to sales and profits.

Which of the following reflects the marketing concept philosophy?

Which of the following marketing management orientations is most likely to lead to marketing myopia?

"Build a better mousetrap,the world will beat a path to your door" reflects the ________ concept.

According to the production concept,consumers will favour products that are and .

Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?

A company's value proposition should answer this question:

Railroads were once operated based on the thinking that users wanted trains rather than transportation,overlooking the challenge of other modes of transportation.This reflects the ________ concept.

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)________ perspective.

The art and science of choosing target markets and building profitable relationships with them is called ________.

A firm that uses the selling concept takes a(n)________ approach.

Which concept calls for aggressive selling and focuses on creating sales transactions rather than on building long-term customer relationships?

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability.This reflects the ________ concept