Question 1

In the 1960s,Pillsbury defined its mission as,"We are in the business of satisfying needs and wants of customers." This is a brief statement of what has come to be known as the:

Accepted Answer

The statement reflects the marketing concept, which places a strong focus on meeting the needs and wants of customers. The selling concept, on the other hand, focuses more on aggressive selling and pushing products onto customers. The hard-sell and soft-sell strategies refer to different approaches to selling, rather than overall business missions.

Question 2

When WildPlay encourages their consumers to post pictures of their experience on Instagram,Facebook,and Twitter,WildPlay is embracing which marketing concept?

Accepted Answer

WildPlay is utilizing social media platforms to reach out to their consumers and encourage them to share their experiences with their followers. This is an example of social media marketing, which focuses on using social media channels to promote a brand or product.

Question 3

Many who attend circuses particularly look forward to the performances that use lions,tigers,elephants,monkeys,and other animals and get a great deal of pleasure from watching these acts.There are also a lot of people who enjoy the other circus acts but feel strongly that these animals are being abused because they are forced to perform.This example indicates it is not always easy to act in accordance with the:

Accepted Answer

The marketing concept is centered on meeting the needs and wants of customers while also ensuring the well-being of society and the environment. In this scenario, there are conflicting desires between those who enjoy animal performances and those who believe it is animal abuse. It is not easy for a circus to act in accordance with the marketing concept because satisfying one group of customers may result in dissatisfaction or harm to another group.

Question 4

What element of the marketing mix for WildPlay Element Parks is described by its four British Columbia locations?

Accepted Answer

The four British Columbia locations describe the "place" element of the marketing mix, as it pertains to the physical location where the product or service is being offered.

Question 5

As organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from _____ to consumers' interests.

Accepted Answer

The emphasis of marketing practice has shifted from focusing on producers' interests to prioritizing consumers' interests, reflecting a more consumer-centric approach in modern marketing.

Question 6

Integrating marketing into all phases of the business process was the goal of which business era?

Accepted Answer

The marketing concept era emphasized the integration of marketing into all phases of the business process, with a focus on identifying and satisfying customer needs. The production era focused on the efficient production of goods, while the sales era emphasized aggressive selling and persuasion. The industrial revolution was a period of technological advancement that led to the mass production of goods.

Question 7

What was the major reason competition increased during the sales era in North American business history?

Accepted Answer

During the sales era, there was a focus on aggressive sales tactics and increasing sales volume. This led to firms producing more goods than they could sell, which created a surplus in the market and increased competition among businesses.

Question 8

Target retail stores use their proprietary REDcard to understand their buyers intimately,and develop favourable long-term perceptions of their buying habits,so Target can offer promotions and products that are more likely for that buyer to purchase at their store.This concept is referred to as:

Accepted Answer

The concept described in the question is known as customer relationship management (CRM). CRM involves using customer data to understand buying habits and preferences, in order to build better relationships with customers and offer targeted promotions and products. The use of the REDcard by Target to collect and analyze customer data is an example of CRM in practice.

Question 9

An organization that focuses its efforts on continuously collecting information about customers' needs and competitors' capabilities,sharing this information across departments,and using the information to create customer values is said to:

Accepted Answer

The organization described is exhibiting a market orientation, which is characterized by a focus on continuously collecting information about customers and competitors, sharing this information across departments, and using it to create customer value. A market orientation is a customer-centric approach to marketing that emphasizes the importance of understanding and meeting the needs of customers in order to achieve business goals.

Question 10

United Way of Greater Toronto (UWGT),like many charities,is sitting on a gold mine of donor data.Locked up in its computer and paper files are records of millions of companies,groups,and individuals that have donated in past years.Also like most philanthropic organizations,UWGT was having a rough time using that information efficiently.It could blanket past donors with generic mailings,but it could not offer its donors anything that would make people donate to it instead of other charities.Which of the following tools would be most useful for the non-profit organization to use?

Accepted Answer

Customer relationship management (CRM) would be the most useful tool for UWGT to use. CRM software would allow the organization to manage and analyze its donor data more effectively, enabling them to tailor their communications and campaigns to individual donors based on their past giving history and preferences. This would help UWGT build stronger relationships with its donors and improve its overall donor retention and acquisition efforts.

Question 11

During the marketing concept era,it is noted that most marketing ideas are fed into the production cycle from after an item is produced to ________ it is designed.

Accepted Answer

The marketing concept era emphasizes that marketing should be integrated into the entire production process, from before the product is designed until after it is produced. This ensures that the product is created with the needs and wants of the target market in mind, and that marketing strategies are developed to effectively promote and sell the product once it is launched. Therefore, the marketing ideas should be fed into the production cycle from before the product is designed.

Question 12

Which era of business history does the following statement best describe? "We are in the business of satisfying needs and wants of consumers."

Accepted Answer

The statement "We are in the business of satisfying needs and wants of consumers" reflects the marketing concept era, which began in the mid-20th century. This era emphasizes customer needs and wants as the primary focus of businesses and emphasizes the importance of marketing research and developing products that meet those needs and wants.

Question 13

A market orientation towards consumers and competitors requires:

Accepted Answer

In order to have a market orientation towards consumers and competitors, it is necessary to involve managers and employees throughout the firm. This means fostering a culture of customer and competitor-centric thinking and behavior. Options A and B are not necessary for a market orientation, while option D is not related to market orientation at all.

Question 14

Every day,buyers from large utility companies and sellers from energy companies visit an online exchange dealing in wholesale electricity and gas to negotiate prices for the energy that heats and lights many homes and businesses.The exchange knows there are competitors vying for its customers so it relies heavily on technology to build and retain strong,one-on-one relationships with each customer.The exchange uses _____ to know its customer and to win their allegiance.

Accepted Answer

The exchange relies on technology to build and maintain strong, one-on-one relationships with each customer. This is done through customer relationship management (CRM) systems, which help to keep track of customer interactions and preferences, tailor marketing and sales efforts to their needs, and ultimately increase customer loyalty. A flexible marketing system and competitive intelligence may also be helpful, but they are not specifically mentioned in the context of the exchange's customer relationships. A database warehouse may also be useful, but it is not as directly focused on customer relationship management as a CRM system.

Question 15

The core of the marketing department at Coca Cola is the idea that their products should seek to satisfy the wants of customers while also trying to achieve the organization's goals.This is known as

Accepted Answer

The marketing concept is the idea that a company should focus on meeting the needs and wants of its customers while also achieving its own goals. This is the core principle of the marketing department at Coca Cola. The principle of consumerism focuses on protecting the rights of consumers, while the societal marketing concept involves balancing the needs of consumers, the organization, and society as a whole. The concept of synergy refers to the idea that the whole is greater than the sum of its parts and is not directly related to marketing.

Question 16

In the movie,The Tin Men,two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners.Their job was difficult,in part,because the supply of aluminum siding surpassed the demand for the product and competition was intense.This situation is indicative of the _____ era of business history.

Accepted Answer

The practices adopted by the salesmen in the movie, such as dishonesty and unethical behavior, are typical of the sales era of business history. During this era, businesses focused on aggressive sales techniques and convincing customers to buy their products, rather than understanding and fulfilling customer needs. The intense competition suggested by the surplus supply of aluminum siding is another characteristic of the sales era.

Question 17

Supply exceeded demand; products could be differentiated from each other; and producers determined different consumer wants and needs.This statement most likely refers to which era in business history?

Accepted Answer

The statement refers to the marketing concept era in business history, which began in the mid-1950s and emphasized meeting customer needs and wants through differentiation and segmentation strategies. This era followed the sales era, in which businesses focused on maximizing sales through aggressive advertising and personal selling, and the production era, in which businesses focused on improving manufacturing efficiency to reduce costs and increase supply. The industrial revolution, while significant, is not directly relevant to the statement.

Question 18

The latest marketing concept is known as:

Accepted Answer

Social media marketing is the latest marketing concept, which is the use of social media platforms and websites to promote a product or service. It involves creating and sharing content on social media networks to achieve marketing goals. With the rise of social media usage, this approach has gained popularity and significance in recent years.

Question 19

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era).How would you expect the company to react if sales of this new candy bar were much lower than expected?

Accepted Answer

During the sales era, companies focused on aggressive sales techniques to boost sales rather than understanding consumer needs or preferences.

Question 20

Which of the following statements about the marketing concept era is true?

Accepted Answer

During the marketing concept era, companies recognized that satisfying the needs of the consumer is essential to achieving organizational goals. This shifted the focus from producing products without regard to consumer needs to creating products that met specific consumer needs and desires. While some companies may still operate with a different philosophy, the marketing concept era has become the prevailing approach to marketing. Therefore, option D is incorrect. Option B is incorrect because the marketing concept era emphasized satisfying the needs of the consumer, not their wants. Option C is incorrect because the marketing concept era recognized that simply producing a good product was not enough; marketing efforts were necessary to communicate the value of the product to consumers.

Quiz 1: Marketing: Customer Value, satisfaction, relationships, and Experiences