California State University-MKTG 300 Midterm Exam 1 Study Guide.

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Chapter 1: 11. Which of the following statements is true of marketing? a. It is more of a philosophy rather than an organization function. b. It is focused on just selling goods, services, and/or i... deas. c. It rewards the seller and not the buyer of a transaction. d. It focuses on delivering value and benefits to customers. ANSWER: D 12. Researchers at Fresnas Inc. invented a new form of glass that filters harmful rays of sunlight and blocks heat. Without researching the market conditions, Fresnas Inc. went ahead and manufactured windshields with the new glass. It hopes that customers will like its new product. In this scenario, Fresnas Inc. has adopted a _____. a. sales orientation b. production orientation c. market orientation d. societal marketing orientation ANSWER: b 13. Identify a true statement about 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. ANSWER: b 14. A firm would benefit from production orientation when _____. a. it considers the needs of the marketplace b. the market demand is less than the products supplied by the firm c. it hopes that the product it produces is something customers want d. it focuses on what company management thinks should be produced ANSWER: a 15. Which of the following is a sales-oriented organization? a. Fournotts Corp. that produces what the company management thinks should be produced b. Magnira Corp. that understands the needs and wants of the marketplace c. Fillets Inc. that believes in the philosophy that aggressive sales techniques can result in high sales d. Laelle Inc. that believes that a sale is based on a customer's decision to purchase a product ANSWER: c 16. Which of the following statements is true of a sales orientation? a. Consumers can be convinced to buy goods or services even though they do not need them. b. The needs and wants of the marketplace is thoroughly understood. c. Sales-oriented firms give maximum emphasis to society’s long-term best interests. d. Intermediaries are encouraged to push manufacturers' products aggressively. ANSWER: d 17. Which of the following is a similarity between a production orientation and a sales orientation? a. Both ignore the importance of assessing a firm's internal capabilities. b. Both lack an understanding of the needs and wants of the marketplace. c. Both place little emphasis on the assessment of manufacturing plants and facilities. d. Both fail in a market where demand exceeds supply. ANSWER: b 18. Which of the following is a drawback of the sales-orientation philosophy? a. It gives excessive importance to the needs and wants of the marketplace. b. It cannot convince people to buy goods that are neither wanted nor needed. c. It places little emphasis on the assessment of manufacturing plants and facilities. d. It gives importance to the production function over other functions. ANSWER: b 19. Which of the following statements is true of the marketing concept? a. It states that an organization should satisfy customer wants and needs while meeting organizational objectives. b. It overlooks the importance of understanding the competitive arena and strengths and weaknesses of competition. c. It states that firms should give maximum importance to aggressive promotional and advertising activities. d. It states that marketing solely means selling things and collecting money. ANSWER: a 20. The management of Leyton Electronics Inc. always favors market orientation over the other marketing management philosophies. In this case, which of the following is most likely to be true of Leyton Electronics Inc.? a. Leyton Electronics Inc. overlooks the importance of market research. b. Leyton Electronics Inc. manufactures products that are similar to its competitors' offerings. c. Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly. d. Leyton Electronics Inc. lacks an understanding of its competitors' strengths and weaknesses. ANSWER: c 21. Firms that are _____ assume that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product. a. exchange oriented b. market oriented c. sales oriented d. production oriented ANSWER: b 22. Unlike a production-oriented firm, a market-oriented firm: a. uses aggressive sales techniques to increase sales. b. focuses on its internal capabilities rather than the needs of marketplace. c. focuses on satisfying customer wants and needs. d. produces what company management thinks should be produced. ANSWER: c 23. Which of the following strategies is most closely associated with the societal marketing orientation? a. Competing in the market b. Fostering opportunism c. Using clean energy sources d. Increasing overhead production costs ANSWER: c 24. Allied Inc., a beverage manufacturer, follows a societal marketing orientation. It now wants to revamp its existing containers as they were found to be harmful to its users. In this case, Allied Inc. will: a. change the label of the old containers and use them. b. sell containers that will leave high amounts of chemical wastes when burned. c. produce containers that are less toxic than its previous containers. d. manufacture containers that cannot be reused. ANSWER: c 25. Unlike the personnel in market-oriented firms, the personnel in sales-oriented firms: a. tend to be inward looking. b. focus on making what the market wants. c. enhance individuals' and society's long-term best interests. d. determine the needs of both the final buyer and intermediaries. ANSWER: a 26. Nessca Corp. manufactures electronic gadgets. It instructs its marketing team to competitively advertise and promote its gadgets. The company, instead of believing in market research, believes that the market will absorb more products if customers are made aware of the products. The workforce of Nessca Corp. is most likely to: a. be inward looking, focusing on selling what the firm makes. b. take responsibility for its customers' well-being and interests. c. assume that sales depend on a customer's decision to purchase a product. d. focus on determining the needs of its customers rather than selling aggressively. ANSWER: a 27. Livin' Styles is a home décor company well-known for its varieties of designs. The management of Livin' Styles collaborates with its customers and co-creates designs. This is an example of _____. a. following sales orientation b. focusing on environmental value c. delegating authority d. creating customer value ANSWER: d 28. A firm that extensively uses relationship marketing strategies is most likely to: a. focus on the internal rather than the external business environment. b. rely on aggressive sales strategies. c. focus on short-term goals of increasing sales. d. encourage teamwork among employees. ANSWER: d 29. A market-oriented firm defines its business in terms of: a. the benefits its customers seek. b. goods and services. c. minimal promotion for high-quality products. d. targeting the average customer. ANSWER: a [Show More]

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