Question 1

Melanie works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the ________ era of marketing.

Accepted Answer

A production-oriented era of marketing is characterized by a focus on improving production efficiency and product quality, with little consideration given to customer needs or marketing efforts. This describes the behavior of Melanie's boss who is only concerned with improving the company's products, while ignoring important aspects of marketing such as customer relations, billing, and company promotion.

Question 2

Yolanda is the new restaurant manager in a major hotel. When considering which changes would most likely increase the restaurant's value to customers, Yolanda must provide her customers the menu items that they want and the quality service that they need as well as

Accepted Answer

Providing a better dining experience than competitors can increase the restaurant's value to customers by differentiating it and attracting more patrons.

Question 3

Serena studies her customer profiles, marketing research data, complaints, and other information for the primary purpose of discovering her customers' wants and needs. Serena most likely operates in the ________ era of marketing.

Accepted Answer

Serena is focusing on understanding and meeting customer needs, which is characteristic of the market-oriented era of marketing.

Question 4

Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on

Accepted Answer

Peter's approach of working closely with clients and building customized tour packages based on their suggestions reflects value cocreation. This approach involves actively involving customers in the creation of value, which can ultimately lead to higher customer satisfaction and loyalty. It is not related to transaction-oriented marketing, premium pricing, seniority at the firm, or special incentives from tour operators.

Question 5

Which of the following statements reflects the philosophy of the market-oriented era?

Accepted Answer

The market-oriented era was characterized by a focus on satisfying customer needs and wants. Therefore, the statement "The customer is king" reflects this philosophy.

Question 6

The prevailing marketing strategy of the ________ era was to find customers for inventories that went unsold.

Accepted Answer

During the sales-oriented era, the focus was on selling products that were already made, rather than making products based on what the market wanted. This approach often involved finding customers for inventories that went unsold, emphasizing aggressive sales techniques.

Question 7

Near the end of the model year, the Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the ________ era.

Accepted Answer

Move-Them-Out dealership increased advertising spending and gave extra incentives to salespeople, indicating a focus on selling their inventory. This aligns with a sales-oriented era, where businesses prioritize aggressive sales tactics to move products.

Question 8

Data about how, when, why, where, and what people buy refers to

Accepted Answer

Data about how, when, why, where, and what people buy falls under the category of marketing analytics, which involves collecting and analyzing data to make informed marketing decisions. Statistics refers more broadly to numerical data, demographics pertains specifically to information about population groups, value-based marketing focuses on creating and delivering value to customers, and relational orientation refers to a company's approach to building and maintaining relationships with customers.

Question 9

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the ________ era.

Accepted Answer

The answer of Trey sells consumer electronics. He knows his...

Question 10

During the ________ era, firms had excess production capacity and used personal selling and advertising to generate customers.

Accepted Answer

During the sales-oriented era, firms focused on selling as much as possible and used personal selling and advertising to generate demand for their excess production capacity.

Question 11

Pokrah University recently began holding regular coffee-hour discussions with current and prospective students and surveying all new and alumni students regarding educational needs and desires. These actions reflect how Pokrah University is striving to become more value driven by

Accepted Answer

Pokrah University is building relationships with customers by engaging with students through discussions and surveys to understand their needs and desires better.

Question 12

From a customer's perspective, value reflects

Accepted Answer

Value from a customer's perspective is determined by the relationship between the benefits provided by a product or service and the costs to the customer. It is the perception of worth that the customer assigns to the product or service they are considering purchasing.

Question 13

In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value driven by

Accepted Answer

Online inventory systems allow companies to share information across their own organizations and with other firms, leading to greater collaboration and efficiency in supply chain management. This helps companies become more value-driven by reducing costs and improving customer service through better inventory management.

Question 14

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in

Accepted Answer

Value-driven marketing prioritizes understanding and meeting customer needs and wants, which can lead to the development of long-term relationships with customers. This can result in increased loyalty and repeat purchases, ultimately benefiting the company in the long run.

Question 15

To build relationships, firms focus on the lifetime ________ of the relationship, not how much money is made during each transaction.

Accepted Answer

Firms focus on the lifetime profitability of the relationship, which means they care about how much money can be made from a customer over their lifetime, not just during each transaction.

Question 16

As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of

Accepted Answer

The franchise company's failure to inform Mary Gray of the specials advertised nationally suggests a lack of information sharing across the organization, which is the value-driven activity referenced in choice A.

Question 17

Many U.S. companies first discovered marketing during the ________ era.

Accepted Answer

Many U.S. companies first discovered marketing during the market-oriented era, which emerged after the end of World War II. This period was characterized by a focus on understanding and meeting the needs and wants of consumers, rather than merely focusing on production or sales.

Question 18

Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix?

Accepted Answer

The location of the kiosks in airports and grocery stores represents Starbucks' effort to improve its offering on the dimension of the marketing mix known as "place," which refers to the distribution channel or the location where the product is sold or the service is provided.

Question 19

The era in which manufacturers were not concerned with satisfying the needs of individual consumers characterizes the ________ era of marketing.

Accepted Answer

The production-oriented era focused on efficient production and distribution with little regard for consumer needs or desires.

Question 20

During the ________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

Accepted Answer

During the value-based marketing era, manufacturers and retailers recognized the importance of offering their customers greater value than their competitors, focusing on customer satisfaction and building relationships based on value.

Quiz 1: Overview of Marketing