Question 1

The owner of a company that produces copy paper once said,"People buy whatever copy paper is the cheapest,so I spend my time trying to find ways I can cut my price." What kind of orientation toward marketing does this owner have?
A) production
B) sales
C) discount
D) customer

Accepted Answer

The owner's statement suggests they are focused on cutting costs and producing the cheapest product possible, indicating a production orientation toward marketing. This means the company is primarily concerned with efficient production processes and reducing costs to offer the lowest price, rather than focusing on customer needs or creating unique products.

Question 2

If the local chapter of the Canadian Diabetes Association (CDA)sponsors a free lifesaving course,city residents will not have to pay to take the class.Why will an exchange take place?
A) The CDA does not have to communicate with class participants.
B) People who take the course have to give nothing of value in return.
C) Both the CDA and the people taking the course will trade something of value.
D) People can decide the course has no value.

Accepted Answer

An exchange will take place because both the CDA and the people taking the course will be trading something of value. The CDA is providing the free course, which is valuable to those who take it, in exchange for the potential benefit of increasing awareness and support for their organization.

Question 3

Which of the following orientations to marketing fails to consider whether what the firm produces most efficiently also meets the needs of the marketplace?
A) customer
B) production
C) market
D) product

Accepted Answer

The production orientation focuses primarily on the firm's ability to produce goods efficiently, without considering whether those goods meet the needs of the marketplace. This approach can lead to a situation in which the firm produces goods that nobody wants or needs.

Question 4

Mimi Couturier is a design company that specializes in formalwear for women.The company's fashion innovators use computer-assisted design software to create what they think women should wear.The company regularly hires industry experts to examine construction work areas to find waste and inefficiencies that can be eliminated.However,for the last two years Mimi Couturier has lost money,and it has had to lay off some of its work force.What should the company do to avoid this occurrence in future?
A) increase its sales force to find more potential customers for the firm
B) hire more retail efficiency experts to trace down any production problems
C) have someone to study its target market to see what needs and wants should be met by Mimi Couturier
D) cut prices so that its prices are at least 10 percent below those of its competitors

Accepted Answer

Mimi Couturier should study its target market to find out what needs and wants should be met by the company. This would allow the company to design products that better meet customer demand, potentially leading to increased sales and profits. Increased sales force, hiring more retail efficiency experts, and cutting prices are not necessarily the best solutions for the company's financial problems.

Question 5

A company that sets its goals and strategies based on what the current plant equipment can produce,what products engineering can design,and what the company itself can do best,has which of the following types of orientation?
A) exchange
B) sales
C) market
D) production

Accepted Answer

A company that sets its goals and strategies based on what the current plant equipment can produce and what the company itself can do best, has a production orientation. This type of orientation emphasizes producing and making efficient use of resources as opposed to focusing on customer needs or market demand.

Question 6

A business is concerned with many day-to-day activities.Some of the most important are the planning and conception of the product or service,its pricing policy,and the distribution strategy.What are these activities part of?
A) human resources
B) production
C) marketing
D) accounting

Accepted Answer

These activities are all part of the marketing function of a business, which involves identifying customer needs, creating products or services to meet those needs, determining pricing strategies to make the product or service attractive to customers, and deciding how to distribute the product or service to reach the intended audience.

Question 7

What must happen in order for exchange to occur?
A) Each party must have something of value to the other party.
B) A profit-oriented organization must be involved.
C) Organized marketing activities must also occur.
D) Money or other legal tender is required.

Accepted Answer

For exchange to occur, each party must have something of value to the other party. Money or other legal tender is not always required for exchange to take place. Organized marketing activities or involvement of profit-oriented organizations may facilitate exchange but are not absolutely necessary.

Question 8

Kurt Meyer wants to sell a Model T Ford that he inherited from his grandfather.A preliminary investigation has shown many people would be interested in this type of automobile.He has taken out an advertisement in his local auto trade paper and provided customers with a toll-free number to make an appointment to drive the car.He has also read in the auto trade papers that similar cars to the one that he owns are selling for about $4,000.Before selling his Model T,what else should Meyer find out?
A) whether the car can meet the demands of potential customers
B) how to promote the car to generate significant visibility for the ad
C) where the car should be located to secure optimum drive-up business
D) how to price the car so that customers will seek out his vehicle

Accepted Answer

The correct answer is A because Meyer needs to find out whether the car can meet the demands of potential customers before selling it. This is important because if the car cannot meet the demands of potential customers, then it will be difficult to sell it.

Question 9

Which of the following is a set of activities used to implement a management orientation that stresses customer satisfaction?
A) a control system
B) customer management
C) planning strategy
D) marketing

Accepted Answer

Marketing is the set of activities used to implement a management orientation that stresses customer satisfaction, focusing on creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 10

Firms with which of the following orientations focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace?
A) production
B) customer
C) marketing
D) sales

Accepted Answer

Firms with a production orientation focus on creating products efficiently and effectively, often relying on their internal capabilities and resources, rather than on understanding and satisfying the needs and desires of the marketplace.

Question 11

Researchers at PPG Industries spent considerable time,effort,and money developing a bluish windshield that would let in filtered sunlight but block out heat.Little market research was done,but the scientists were convinced that this new product would be significantly better than existing windshields even though they were more expensive and of a different colour than the current models on the market.What type of orientation does PPG most likely have?
A) sales
B) customer
C) production
D) promotion

Accepted Answer

PPG Industries seems to have a production orientation, where they prioritize the development of new and improved products regardless of market demand or customer preferences. The emphasis is on creating better products through research and development rather than on understanding customer needs and wants. This is reflected in the considerable time, effort, and money spent on developing the bluish windshield without conducting much market research.

Question 12

Marketing is an organizational function and a set of processes for creating,communicating,and delivering which one of the following to customers?
A) sales
B) benefits
C) satisfaction
D) value

Accepted Answer

Marketing involves creating, communicating, and delivering value to customers. Sales, benefits, and satisfaction are all important outcomes of effective marketing, but they are not the primary focus. The ultimate goal of marketing is to provide value to customers, which can result in increased sales, greater satisfaction, and other benefits.

Question 13

In which of the following situations is a firm with a production orientation most likely to survive?
A) when supply for the product it produces exceeds demand
B) when demand for the product it produces exceeds supply
C) when there are many small competitors in the marketplace
D) when needs of the marketplace are shifting

Accepted Answer

A firm with a production orientation focuses on producing as much as possible at the lowest cost, without considering customer demand or preferences. Therefore, in a situation where demand exceeds supply, this firm would have a greater chance of survival as they can easily sell the products they produce. In contrast, in situations such as A, C, or D, where the market conditions are unfavorable, this approach is less likely to lead to success.

Question 14

What is the definition of marketing?
A) planning sales campaigns
B) selling
C) advertising and promotion activities
D) a philosophy that stresses customer satisfaction

Accepted Answer

Marketing is a comprehensive approach that involves a philosophy centered on customer satisfaction. It is not just about planning sales campaigns or advertising and promotion activities. While these activities are part of marketing, they are not the sole definition of marketing. Selling, on the other hand, focuses only on closing deals and is just one aspect of marketing.

Question 15

Which orientation assumes that people are resistant to buying products that are not absolutely necessary?
A) sales
B) marketing
C) customer
D) production

Accepted Answer

The sales orientation assumes that people are resistant to buying products that are not absolutely necessary, and therefore, businesses must engage in aggressive sales techniques to sell their products.

Question 16

Four competing philosophies strongly influence the role of marketing and marketing activities within an organization.Which if the following is a marketing management philosophy?
A) accounting orientation
B) sales orientation
C) profitability orientation
D) social networking orientation

Accepted Answer

A sales orientation is a marketing management philosophy that places a primary focus on selling and promoting a product or service. It involves using aggressive sales tactics and persuasive techniques to convince customers to purchase the product, and it prioritizes achieving high sales figures over customer needs or satisfaction. The other options listed - accounting orientation, profitability orientation, and social networking orientation - are not typically considered marketing management philosophies.

Question 17

Which orientation of people will buy more goods and services if aggressive marketing techniques are used?
A) sales
B) production
C) customer
D) marketing

Accepted Answer

The answer of Which orientation of people will buy more...

Question 18

The idea that people give up something in order to receive something that they would rather have is a key ingredient in marketing.What is this called?
A) exchange
B) synergy
C) reciprocity
D) promotion

Accepted Answer

This is called an exchange, which is a fundamental concept in marketing. It involves giving up something of value (money, time, effort, etc.) in return for something perceived to have greater value (a product, service, experience, etc.).

Option B (synergy) refers to the combined effect that results when two or more entities work together to achieve something greater than they could on their own, and is not directly related to the concept of giving something up to receive something in return.

Option C (reciprocity) refers to the social norm of responding to a positive action with another positive action, and is often used in marketing as a way to cultivate long-term relationships with customers. However, it does not specifically involve the idea of giving up something to receive something else in return.

Option D (promotion) refers to any type of advertising or marketing communication used to promote a product, service, or brand, and does not specifically relate to the concept of exchange.

Question 19

Why is the concept of exchange important to marketing?
A) Marketing activities help to create exchange.
B) Money is the only medium of exchange for business marketers.
C) Exchange provides money to marketers.
D) Marketing activities are a requirement for exchange to take place.

Accepted Answer

The concept of exchange is important to marketing because marketing activities aim to create exchange, which is the giving and receiving of something of value between a buyer and a seller. The exchange of goods or services for money, or for something else of value, is at the heart of economic transactions and is the basis of all marketing activities. Without exchange, there would be no need for marketing, and businesses would have no revenue or profits. Therefore, marketing activities help to create the conditions necessary for exchange to take place, and are an essential component of any successful business strategy.

Question 20

For an exchange to take place,what must happen?
A) At least one person must have something of value.
B) Each party must feel obligated to accept the offer.
C) Money must be present.
D) There must be at least two parties.

Accepted Answer

For an exchange to take place, there must be at least two parties involved. This means that there must be someone who has something of value that they want to exchange and someone who is willing to accept the offer. Money is not always required for an exchange to occur, as goods and services can also be used as forms of exchange. Feeling obligated to accept an offer is not a requirement for an exchange.

Quiz 1: An Overview of Marketing

The owner of a company that produces copy paper once said,"People buy whatever copy paper is the cheapest,so I spend my time trying to find ways I can cut my price." What kind of orientation toward marketing does this owner have?

If the local chapter of the Canadian Diabetes Association (CDA) sponsors a free lifesaving course,city residents will not have to pay to take the class.Why will an exchange take place?

Which of the following orientations to marketing fails to consider whether what the firm produces most efficiently also meets the needs of the marketplace?

A company that sets its goals and strategies based on what the current plant equipment can produce,what products engineering can design,and what the company itself can do best,has which of the following types of orientation?

A business is concerned with many day-to-day activities.Some of the most important are the planning and conception of the product or service,its pricing policy,and the distribution strategy.What are these activities part of?

What must happen in order for exchange to occur?

Which of the following is a set of activities used to implement a management orientation that stresses customer satisfaction?

Firms with which of the following orientations focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace?

Marketing is an organizational function and a set of processes for creating,communicating,and delivering which one of the following to customers?

In which of the following situations is a firm with a production orientation most likely to survive?

What is the definition of marketing?

Which orientation assumes that people are resistant to buying products that are not absolutely necessary?

Four competing philosophies strongly influence the role of marketing and marketing activities within an organization.Which if the following is a marketing management philosophy?

Which orientation of people will buy more goods and services if aggressive marketing techniques are used?

The idea that people give up something in order to receive something that they would rather have is a key ingredient in marketing.What is this called?

Why is the concept of exchange important to marketing?

For an exchange to take place,what must happen?