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Exam 1: Marketing Fundamentals

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Question 41

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Which of the following statements about the marketing orientation stage is true?

A) During the marketing orientation stage, companies tried to satisfy the needs of consumers while also achieving the organization's goals.
B) During the marketing orientation stage, companies tried to satisfy the wants of the consumer at all costs.
C) During the marketing orientation stage, companies believed that if you produced as much as possible, at the highest quality level, for the lowest price, the product will sell itself.
D) All firms are now operating with a marketing orientation philosophy.

E) A) and B)
F) A) and C)

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Question 42

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Market describes the potential consumers who have both the willingness and ability to buy a product.

A) True
B) False

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Question 43

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The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____.

Happy Traveller Ltd.has designed a program that allots its customers reward points each time its members hire the company to book their holidays.It has also introduced discounted Christmas and New Year holiday vacation packages only for its members and long time customers.Happy Traveller Ltd.has also expressed its support for a cancer foundation, donating a substantial sum of money to the foundation.The cancer foundation has announced Happy Traveller Ltd.as one of its patrons.Which of the following is true of Happy Traveller's support of the cancer foundation?

Jack Farms Gourmet Bread Base is the brand name for a mix designed for use in bread machines.The mixes are sold in two-pound packages for $14.99 plus postage.The products are available only through mail.People learn about the product through word-of-mouth and through bread machine demonstrations the company's founder gives to groups in the Greater Toronto Area, where she lives.This is a description of the company's _____.

What did the production orientation stage focus on?

In the past, Burger King, Wendy's, and McDonald's used to market their burgers in non-biodegradable Styrofoam containers.In response to calls from the public to use more environmentally friendly materials, most fast-food marketers use paper containers for their burgers.Indeed, many such containers are made from recycled materials.This is an example of _____.

In marketing, a product is defined as something tangible that you can touch and own but not experience.

Creating products with added value is achieved only through pricing strategies.

A cosmetics-selling company decides to manufacture and sell a new range of products under the label "environment friendly," promising that the products are not animal-tested and are made with natural ingredients.This is an example of _____.

Place refers only to a physical store where consumers can purchase a product.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

What is the essence of successful marketing?

The owners of Old School Brand Authentic Antique Foods researched cookbooks to come up with recipes for the old-fashioned products they market.Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Database technology has surfaced as a tool that facilitates relationship marketing by putting a focus on corporate social responsibility (CSR) for the marketing industry, and is often facilitated by CSR software.

The marketing mix refers to the 4 Ps - product, price, promotion, and place.

Successful marketing is focused on customer needs and wants.

The _____ orientation stage focuses organizational efforts to collect and use information about customers' needs to create customer value.

A target market is:

Which of the following statements explains why businesses moved from the production orientation stage to the sales orientation stage?