Quiz 1
1. What is a shortcoming of the production oriented method?
a. It does not consider the demands of the market place.
b. It makes it difficult to produce a product efficiently.
c. It does not consider what services are easiest for the firm to produce.
d. It doesn’t consider what company management wants to produce.
2. Which is not a characteristic of a firm that would typically hold a niche competitive
advantage?
a. Conducting operations in a limited geographic area.
b. Targeting a specialized area of business.
c. Avoiding direct competition with major national and international firms.
d. Trying to target multiple market segments.
3. Market orientation focuses on?
a. Internal capabilities of the firm
b. Satisfy customer needs and wants while meeting objectives
c. Aggressive sales techniques and belief that high sales result in high profits
d. Satisfy customer needs and wants while enhancing individual and societal well
being
4. Which of the following is NOT a condition for exchange?
a. At least two parties
b. Something of value
c. Communication and delivery
d. A meeting place
e. Freedom to accept or reject
5. Sales orientation focuses on?
a. Satisfy customer needs and wants while enhancing individual and societal well being
b. Internal capabilities of the firm
c. Aggressive sales techniques and belief that high sales result in high profits
d. Satisfy customer needs and wants while meeting objectives
6. What is relationship marketing?
a. A strategy that focuses on marketing the relationships and friendships of
individuals
b. A strategy that focuses on keeping and improving relationships with current
customers
c. A relationship that exists between marketing companies
d. The marketing of two similar items simultaneously
7. Which of the following conditions must be met for an exchange?
a) No more than 2 parties
b) At least 2 parties
c) Must be of equal cash value
d) Only 2 parties
8. What is customer value?
a. The relationship between benefits and the sacrifice necessary to obtain those
benefits
b. The quality of a product or service
c. Understanding the demand for lower priced items
d. The price of a product sold to a customer
9. Which of the following is one of the four marketing management philosophies?
a. Soliciting
b. Secretary
c. Sequencing
d. Societal
10. What order should the following steps be placed in to achieve marketing orientation?
-Determine how to deliver superior customer value
-Examine the information from a total business perspective
-Implement actions to provide value to customers
-Obtain information about customers, competitors, and markets.
a. 3, 2, 4, 1
b. 1, 2, 3, 4
c. 2, 1, 4, 3
d. 1, 3, 2, 4
11. Which orientation is focused on outward response, satisfying wants and needs, and
customer satisfaction?
a. Sales
b. Hospitality
c. Marketing
d. HR
12. _____________ builds relationships where every employee represents the firm in the
eyes of the customer.
a. Customer Oriented Personnel
b. Employee training programs
c. Empowered employees
d. Teamwork
13. Which of the following 5 conditions is falsely stated to satisfy for any kind of exchange
to take place?
a. The must be at least two parties.
b. Each party has something that may be of value to the other party.
c. Each party is capable of communication and delivery.
d. Each party is free to accept or reject the exchange offer.
e. Each party believed it is appropriate or undesirable to deal with the other party.
14. _______ is the idea that the social and economic justification for an organization's
existence is the satisfaction of customer wants and needs while meeting organizational
objectives.
a. Sales orientation
b. Marketing concept
c. Customer value
d. Relationship marketing
15. _______ is the delegation of authority to solve customers' problems quickly--- usually
by the first person the customer notifies regarding the problem.
a. Customer satisfaction
b. Marketing orientation
c. Empowerment
d. Exchange
16. What part of marketing is critical to identify and understand target segments?
a. Promotions
b. Research
c. Design
d. Price
17. Customer relationship management (CRM) is a company-wide business strategy used to
optimize what?
a. Profitability
b. Revenue
c. Customer Satisfaction
d. All of the above
18. All of these are differences between sales and market orientations except
a. The organization’s focus
b. The firm’s business
c. Those to whom the product is directed
d. The nature of personal selling
e. The tools used to achieve the organization’s goals
19. For an exchange, which of the following is NOT trfue?
a) Exchange may not take place even if conditions are met.
b) An agreement must be reached
c) Everyone must be happy
d) Marketing occurs even if exchange does not take place.
20 The customers’ evaluation of a good or service in terms of whether that good or service
has met their needs and expectations is called __________________.
a. Customer Satisfaction
b. Relationship marketing
c. Building Relationships
d. Teamwork
Answers:
1. A
2. B
3. B
4. D
5. C
6. B
7. A
8. A
9. D
10. A
11. C
12. A
13. E
14. B
15. C
16. B
17. D
18. D
19. C
20. A