Question 1

How would a firm benefit from production orientation?
A)competition is weak and demand exceeds supply
B)the market demand falls short of the firm's supply
C)the product it produces is not something that customers want
D)it wants to preserve society's long-term best interests

Accepted Answer

Production orientation focuses on maximizing efficiency and lowering costs through large-scale production. This strategy works best when demand exceeds supply and competition is weak, allowing the firm to maintain steady sales and high profits.

Question 2

Which of the following best described production-oriented firms?
A)They do not focus on their internal capabilities.
B)They lack an understanding of the needs and wants of the marketplace.
C)They focus on their customers and have quick cycle times.
D)They determine what products their customers want and then produce them.

Accepted Answer

Production-oriented firms often focus primarily on their own production capabilities rather than understanding or responding to the needs and wants of the market. They may prioritize efficiency and product output over customer desires.

Question 3

What is the definition of want?
A)product or service that is not a necessity
B)product or service that is a necessity
C)product or service a consumer needs
D)product or service that is built for the customer

Accepted Answer

A want is something that is desired or wished for, but is not necessary for a person to survive or meet their basic needs. It is a product or service that is optional or discretionary.

Question 4

For many years, Procter & Gamble (P&G) viewed its Ivory soap as just plain old soap. P&G focused on how well it made Ivory soap and not on what customers wanted from a bar of soap. What type of orientation did the company have?
A)sales
B)production
C)market
D)customer

Accepted Answer

The company's focus on how well it made Ivory soap indicates that it had a production orientation, which means it was more concerned with producing goods efficiently and effectively rather than identifying and meeting customer needs.

Question 5

Which of the following best describes marketing?
A)It is more of a philosophy rather than an organization function.
B)It is focused on just selling goods, services, and/or ideas.
C)It rewards the seller and not the buyer of a transaction.
D)It focuses on delivering value and benefits to customers.

Accepted Answer

Marketing is not just about selling goods or services; it is primarily focused on delivering value and benefits to customers. It involves understanding customer needs and wants, creating and communicating products or services that fulfill those needs, and building strong relationships with customers to enhance their overall experience.

Question 6

What type of orientation does a company have when their strategies are based on what its current equipment can produce, what products can be designed, and what the company can do best?
A)marketplace
B)sales
C)production
D)exchange

Accepted Answer

A production orientation focuses on the company's internal capabilities and capacities. This approach prioritizes efficiency in production and cost reductions, which are often achieved through standardization and mass production. The company's strategies in this orientation are likely to be based on what its current equipment can produce and what the company can do best. Product design may also be influenced by the company's production capabilities.

Question 7

Researchers at PPG Industries spent 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 better than the existing windshields. This suggests PPG most likely has which type of orientation?
A)exchange
B)production
C)sales
D)customer

Accepted Answer

PPG Industries spent time, effort, and money on developing a new product without conducting market research to determine if there was a demand for it. This suggests that PPG Industries has a production orientation, where they focus on developing a product and improving efficiency in the manufacturing process, rather than on meeting customer needs or conducting market research.

Question 8

What is the definition of marketing?
A)understanding the wants of the consumer
B)understanding the needs of the consumer
C)developing the needs for the advertising
D)developing the wants of a marketing firm

Accepted Answer

Marketing refers to the process of understanding the needs of the consumers and developing strategies to satisfy those needs through the creation, promotion, and distribution of products or services. While understanding the wants of consumers is also important, it is the needs that must be met in order for marketing to be successful. Developing needs for advertising or wants for a marketing firm is not an accurate definition of marketing.

Question 9

What is marketing's sole focus?
A)a control system
B)Marketing products
C)understanding the customer
D)profits

Accepted Answer

Marketing's sole focus is understanding the customer. While profits are an important aspect of marketing, they are not the sole focus. Marketing also involves creating and delivering value to customers through effective communication and delivering products that meet their needs and desires. A control system is a tool to measure and monitor performance, but it is not the focus of marketing.

Question 10

Which of the following best describes marketing?
A)promotional activities
B)personal selling
C)advertising
D)customer satisfaction

Accepted Answer

Marketing is the process of identifying and satisfying customer needs and wants. While promotional activities, personal selling, and advertising are all components of marketing, they do not fully capture the essence of marketing, which involves creating value for customers through the development of products, pricing, promotion, and distribution strategies that lead to customer satisfaction.

Question 11

What is Saatchi & Saatchi?
A)a global communications and advertising company
B)an accounting company
C)a marketing company
D)a financial business

Accepted Answer

Saatchi & Saatchi is a global communications and advertising company, creating and executing marketing campaigns for various brands and companies around the world.

Question 12

Owens' Tools manufactures oil-drilling equipment. The firm has always focused on their internal mix as opposed to understanding the needs of customers. What orientation does this describe?
A)sales
B)production
C)market
D)customer

Accepted Answer

This describes a production orientation, where the company is focused on their own internal operations and efficient production rather than understanding and meeting the needs of their customers.

Question 13

What is the definition of customer needs?
A)a product or service that customers already possess
B)a product or service that fills the status quo
C)a product or service that the customer requires and does not possess
D)a product or service that customers want

Accepted Answer

Customer needs refer to a product or service that the customer requires but does not possess. It is something that satisfies a particular want, desire or necessity for the customer, and it is essential to understand those needs to provide better solutions that result in customer satisfaction. Choice A and B do not reflect customer needs as a product or service must not already be possessed by the customer or merely maintain the status quo. Choice D also does not capture the essence of customer needs as a product or service that customers want may not necessarily be something they require.

Question 14

What type of orientation does a firm have if it doesn't take into consideration the needs of the marketplace?
A)customer
B)product
C)market
D)production

Accepted Answer

A firm with a production orientation focuses on maximizing production efficiency and reducing costs, and may not consider the needs and wants of the marketplace or the customers. This approach is more inward-facing and focused on the production process rather than the market demand.

Question 15

Indonesian logging companies harvest rainforests for wood and assume that a market exists for their products. Which type of orientation does the Indonesian logging company have?
A)exchange
B)environmental
C)production
D)sales

Accepted Answer

The Indonesian logging company has a production orientation, as they focus on maximizing output and assume that a market exists for their products. They prioritize the efficiency of their logging operations and may not consider the long-term environmental impact of their activities.

Question 16

What is the most important part of marketing?
A)planning strategy
B)customer management
C)engaging with the customer
D)reciprocity

Accepted Answer

Engaging with the customer is the most important part of marketing because it involves building relationships with the target audience and understanding their needs and preferences. This helps in developing effective marketing strategies and promoting products or services in a way that resonates with the customers. Customer management and reciprocity are also important components of marketing, but they are subsets of engaging with the customer. Planning strategy is necessary for any marketing campaign, but it is not the most important part as the success of the strategy largely depends on how well it is executed and received by the customers.

Question 17

Which of the following is a major shortcoming of production orientation?
A)There is no customer value.
B)Customer satisfaction is not considered.
C)Customers' opinions are neglected in the process.
D)Customers are presented with whatever has been developed.

Accepted Answer

The answer of Which of the following is a major...

Question 18

What is a need?
A)an itch
B)a desire for something
C)a want
D)a belief that makes the customer satisfied

Accepted Answer

A need is different from a want or desire. It is a requirement that has to be fulfilled for survival or basic needs. Wanting something is not the same as needing it. For example, food and water are needs, while a luxury car is a want or desire.

Question 19

Which of the following best defines marketing?
A)creating processes within an organization
B)creating advertising and social media strategies
C)analyzing the market for the next big product or service
D)helping shape the products and services of a firm

Accepted Answer

Marketing involves helping to shape the products and services of a firm to meet the needs of customers and create value for the organization. It also involves understanding customer needs, developing pricing and distribution strategies, and promoting the products or services to the intended audience. While creating processes and analyzing the market are important aspects of marketing, they are not the primary definition of marketing. Creating advertising and social media strategies is a specific component of marketing but does not fully encompass the entirety of the discipline.

Question 20

What does the term marketing refer to?
A)new product concepts and improvements
B)selling
C)advertising and promotional activities
D)understanding and focusing on customer needs

Accepted Answer

Marketing refers to understanding and focusing on customer needs, which includes researching, identifying, and satisfying customer needs through various strategies such as product development, pricing, distribution, and promotion. While elements of selling, advertising, and product improvements may be involved in marketing, they are not the sole focus of the overall concept of marketing.

Quiz 1: An Introduction to Marketing

How would a firm benefit from production orientation?

Which of the following best described production-oriented firms?

What is the definition of want?

For many years, Procter & Gamble (P&G) viewed its Ivory soap as just plain old soap. P&G focused on how well it made Ivory soap and not on what customers wanted from a bar of soap. What type of orientation did the company have?

Which of the following best describes marketing?

What type of orientation does a company have when their strategies are based on what its current equipment can produce, what products can be designed, and what the company can do best?

What is the definition of marketing?

What is marketing's sole focus?

Which of the following best describes marketing?

What is Saatchi & Saatchi?

Owens' Tools manufactures oil-drilling equipment. The firm has always focused on their internal mix as opposed to understanding the needs of customers. What orientation does this describe?

What is the definition of customer needs?

What type of orientation does a firm have if it doesn't take into consideration the needs of the marketplace?

Indonesian logging companies harvest rainforests for wood and assume that a market exists for their products. Which type of orientation does the Indonesian logging company have?

What is the most important part of marketing?

Which of the following is a major shortcoming of production orientation?

What is a need?

Which of the following best defines marketing?

What does the term marketing refer to?