Question 1

Which marketing orientation 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 concept
B) production concept
C) selling concept
D) marketing concept
E) societal marketing concept

Accepted Answer

The marketing 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.

Question 2

According to the authors of your text,the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy.
A) product
B) production
C) marketing
D) retailing
E) societal marketing

Accepted Answer

The marketing concept is described as a "sense and respond" philosophy, which means that businesses should focus on identifying and meeting the needs and wants of their customers, rather than just producing goods and trying to sell them.

Question 3

When customers don't know what they want or don't even know what's possible,the most effective strategy is ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) production
E) product

Accepted Answer

Customer-driving marketing involves creating new products or services that customers didn't know they needed or wanted. This approach is effective when customers don't know what they want or what's possible, as it allows the company to be innovative and create new demand. This is different from customer-driven marketing, which focuses on meeting existing customer needs and desires.

Question 4

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants,society's interests,and ________.
A) human welfare
B) want satisfaction
C) company profits
D) short-run wants
E) long-term needs

Accepted Answer

The third area of consideration that should be balanced in the societal marketing concept is company profits. This means that a company should consider its own financial well-being while also making choices that benefit society and meet consumer wants. Balancing all three areas is crucial for a company to practice ethical and responsible marketing.

Question 5

Edmund Cheng of Wing Tai Garments used the marketing concept in his successful organization.His perspective of having a customer department in his G2000 outlets uses a(n)________ perspective..
A) customer-driven
B) external
C) inside-out
D) continuous improvement
E) traditional

Accepted Answer

Edmund Cheng's perspective of having a customer department in his G2000 outlets reflects a customer-driven perspective as he focuses on understanding and meeting customer needs and preferences through the establishment of a dedicated department to serve their needs.

Question 6

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 the importance of continuous product improvements and innovations to attract customers, assuming that consumers will favor products that offer the most quality, performance, and features.

Question 7

A firm that uses the selling concept takes a(n)________ approach.
A) outside-in
B) passive
C) inside-out
D) societal
E) customer service

Accepted Answer

The selling concept is an inside-out approach where a firm focuses on aggressively promoting and selling its products, regardless of the needs or wants of the target market. The emphasis is on persuasion and sales techniques rather than on understanding and addressing customer needs.

Question 8

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."
D) "When it's profits versus customers' needs, profits will always win out."
E) "You won't find a better deal anywhere."

Accepted Answer

The marketing concept philosophy is centered on putting the customer's needs first and viewing the organization as a customer-satisfying system, rather than solely focusing on the product or profits. Choice A reflects this philosophy by emphasizing the importance of the customer and the role they play in the organization.

Question 9

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.
A) short-run costs and profits
B) short-run ethics
C) long-run welfare
D) immediate health
E) value propositions

Accepted Answer

The societal marketing concept aims to strike a balance between satisfying consumers' immediate wants and addressing the long-term best interests of the consumers and society as a whole. This means considering factors such as environmental impact, social responsibility, and sustainability when making business decisions. Therefore, the correct answer is C) long-run welfare.

Question 10

"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept.
A) production
B) marketing
C) selling
D) product
E) target marketing

Accepted Answer

This phrase encapsulates the product concept, which posits that consumers will favor products that offer the most quality, performance, and innovative features.

Question 11

Customer-driven marketing usually works well when ________ and when customers ________.
A) a clear need exists; are difficult to identify
B) customers know what they want; are loyal to the brand
C) a firm can deliver the goods desired; are thoroughly researched
D) a clear need exists; know what they want
E) a need exists; don't know what they want

Accepted Answer

Customer-driven marketing is most effective when a clear need exists and when customers know what they want. This allows a firm to tailor their marketing efforts and deliver products or services that meet the specific needs and desires of their customers.

Question 12

Which marketing orientation calls for aggressive promotional efforts and focuses on generating transactions to obtain profitable sales?
A) marketing concept
B) production concept
C) product concept
D) selling concept
E) societal marketing concept

Accepted Answer

The selling concept calls for aggressive promotional efforts and focuses on generating transactions to obtain profitable sales. This orientation prioritizes sales transactions over building long-term customer relationships and assumes that customers will not buy enough of a product without large-scale promotional efforts.

Question 13

Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being?
A) marketing concept
B) selling concept
C) product concept
D) societal marketing concept
E) equity concept

Accepted Answer

The societal marketing concept holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being. It takes into account not only customer satisfaction but also societal welfare, such as environmental sustainability and social responsibility.

Question 14

Of the following,which is the most important concept of modern marketing?
A) customer relationship management
B) e-mail advertising
C) mass marketing
D) properly trained sales people
E) low prices

Accepted Answer

Customer relationship management is the most important concept of modern marketing as it focuses on building long-term relationships with individual customers by understanding their needs and preferences. This leads to increased customer satisfaction and loyalty, which in turn leads to higher profits for the business. E-mail advertising, mass marketing, properly trained salespeople, and low prices are also important components of modern marketing, but they are not as crucial as customer relationship management.

Question 15

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.
A) product
B) production
C) customer
D) marketing
E) promotion

Accepted Answer

The concept described in the question is the product concept, which focuses on continuous product improvement and providing customers with high-quality, high-performance, and innovative products. This concept assumes that customers will choose products that offer the most value and satisfaction.

Question 16

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) demarketed

Accepted Answer

The answer of Though often criticized,the selling concept is particularly...

Question 17

The societal marketing concept seeks to establish a balance between consumer short-run wants and society's ________.
A) short-run costs and profits
B) short-run ethics
C) long-run welfare
D) health
E) value propositions

Accepted Answer

The societal marketing concept aims to balance the consumer's wants in the short-term with the long-term welfare of society. Therefore, the best choice is C.

Question 18

Marie Ortiz enjoys her work at Futuristic Designs,Inc.Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands.Marie's firm practices ________ marketing.
A) customer-driven
B) customer-driving
C) relationship
D) societal
E) social

Accepted Answer

Marie’s firm practices customer-driving marketing, which involves understanding and anticipating customer needs better than the customers themselves and creating products and services to meet those needs.

Question 19

Building,keeping,and growing profitable relationships by delivering customer value and satisfaction is called ________.
A) customer lifetime value
B) customer perceived value
C) customer relationship management
D) database marketing
E) societal marketing

Accepted Answer

Customer relationship management (CRM) involves building, keeping, and growing profitable relationships by delivering customer value and satisfaction. This involves using technology and data to manage interactions with customers and track their behavior, preferences, and history with the company. CRM also involves creating personalized experiences for customers, providing excellent customer service, and using customer feedback to improve products and services. The other options, customer lifetime value, customer perceived value, database marketing, and societal marketing, are related concepts but do not encompass the full scope of CRM.

Question 20

You have just taken a new position in an organization and you're learning about the job functions of your new colleagues.You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships.Your marketing manager frequently speaks about the need to acquire,keep,and grow customers.Your manager is concerned with which one of the following?
A) customer divestment
B) customer-managed relationships
C) the societal marketing concept
D) partner relationship management
E) customer relationship management

Accepted Answer

The marketing manager's focus on building and maintaining profitable customer relationships, as well as their emphasis on acquiring, keeping, and growing customers, indicates a concern for customer relationship management. Customer relationship management (CRM) is a marketing strategy that focuses on building and sustaining long-term relationships with customers to maximize their lifetime value to the organization. This involves managing interactions with customers across multiple touchpoints, including sales, marketing, and customer service.

Quiz 1: Marketing: Managing Profitable Customer Relationships

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

According to the authors of your text,the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy.

When customers don't know what they want or don't even know what's possible,the most effective strategy is ________ marketing.

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants,society's interests,and ________.

Edmund Cheng of Wing Tai Garments used the marketing concept in his successful organization.His perspective of having a customer department in his G2000 outlets uses a(n) ________ perspective..

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

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

Which of the following reflects the marketing concept philosophy?

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

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

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

Which marketing orientation calls for aggressive promotional efforts and focuses on generating transactions to obtain profitable sales?

Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being?

Of the following,which is the most important concept of modern marketing?

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.

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

The societal marketing concept seeks to establish a balance between consumer short-run wants and society's ________.

Marie Ortiz enjoys her work at Futuristic Designs,Inc.Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands.Marie's firm practices ________ marketing.

Building,keeping,and growing profitable relationships by delivering customer value and satisfaction is called ________.