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Test Bank for MKTG, 4th Edition: Lamb
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Test Bank for MKTG, 4th Edition: Lamb
Instant download Test Bank for MKTG, 4th Edition: Lamb pdf docx epub after payment.
1. Which of the following statements is not true of marketing?
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2. Which statement expresses the American Marketing Association (AMA)’s core definition of marketing?
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3. Which activity/activities are involved in the process of marketing?
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4. When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the ______ orientation.
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5. A firm could benefit from a production orientation when _____.
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6. Firm XYZ is known for adopting a strategy that focuses on designing new products based on their assessment of the capabilities of their engineers and on the easy availability of resources. The firm’s approach, which emphasizes the ease of production and the talents of its resources rather than the needs and wants of the marketplace, can be attributed to its ______ orientation.
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7. A production-oriented firm is one that focuses on _______.
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8. A production-orientated company can survive in a competitive market if ______.
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9. In most cases, in order for a firm to succeed in a competitive market, it needs to have a clear understanding of the marketplace and produce products based on the wants and needs of the customers, rather than expecting the customers to want the products manufactured solely based on the assessment of the firm’s internal capabilities.
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10. Which of the following statements is true of a sales-oriented firm?
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11. When a firm believes that employing aggressive sales techniques would help sell their product in the market and achieve high profits rather than designing their product based on the desires and needs of the consumers, then the firm is said to have adopted a ______ orientation.
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12. The management at ABC Computers believes that high sales will result in high profit. Together with the company sales force, management devises a sales strategy to promote their new line of convertible laptops based on the assumption that consumers will purchase a product if the company promotes it aggressively. This sales hypothesis can be attributed to the company’s ______ orientation.
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13. A sales-oriented companyy is one that focuses on _______.
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14. According to sales-oriented firms, marketing means ______.
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15. With the help of an effective sales force that devises high-quality sales techniques, a sales-oriented firm can successfully convince customers to purchase goods and services that they neither wanted nor needed.
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16. Which of the following is a similarity between a production orientation and a sales orientation?
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17. Which of the following is a drawback of a sales orientation?
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18. Which of the following statements is true of the marketing concept?
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19. When a firm believes that the sale of a product depends on the decision of the customer rather than on aggressive sales techniques, then the firm is said to be ______ oriented.
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20. The management of PQR Electronics believes that success can be achieved with a thorough understanding of its competitive arena and by developing products that satisfy the needs, wants, and expectations of customers. Therefore, PQR Electronics can be said to have a ______ orientation.
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21. Which of the following statements is true of market-oriented firms?
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22. Which of the following activities is not true of the marketing concept?
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23. When a firm believes that the social and economic validation for its existence is obtained from achieving their organizational objectives by satisfying customer wants and needs legally and responsibly, then that firm is said to be ______ oriented.
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24. Which of the following activities is not required to achieve a market orientation?
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25. Identify a critical component of a market-oriented firm.
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26. When an organization believes that apart from achieving its targets and satisfying customers, it also needs to be responsible for preserving or enhancing individuals’ and society’s long-term best interests, then the organization is said to have a ______ marketing orientation.
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27. The research and development team of BB Beverages has discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident that BB Beverages embraces a ______ orientation.
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28. A firm that has adopted a societal marketing orientation focuses on ______.
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29. The Internet and the extensive use of social media have fueled the change in power from consumers and business users to manufacturers and retailers.
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30. Identify the situation(s) in which a production-oriented firm can survive or prosper in the market place.
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31. Companies that place customers at the center of their business are those that follow a ______ orientation.
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32. Which marketing philosophy could most help a company outperform its competitors in today’s marketplace?
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33. ABC Apparel follows a market-oriented approach, whereas XYZ Apparel believes in a sales-oriented approach. Considering their approaches, it is evident that ______ has/have a competitive edge in today’s market.
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34. The relationship between benefits and the sacrifice necessary to obtain those benefits is known as ________________________.
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35. Customers perceive high-quality products that are sold at high prices to be a good value.
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36. Stacy, a customer of MMM Bank, is extremely pleased with the bank’s efforts to please customers and its range of services. She gives the bank high ratings on their feedback form and also recommends the bank to her friends and family. Stacy’s evaluation of MMM Bank is a reflection of ______.
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37. A customer’s assessment of whether a organization’s goods or services have met his or her needs and expectations is defined as ______.
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38. Which activity do flourishing companies consider as the launching point for building relationships with customers?
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39. The strategy of improving relationships with existing customers, which is based on the assumption that most customers prefer to maintain an ongoing relationship with one organization rather than switch continually among providers in their search for value, is defined as ______.
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40. Which one of the following is a hallmark of relationship marketing?
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41. The AB group of hotels is keen on building relationships with customers. To ensure success in this effort, the attitudes and actions of its employees need to be ________ oriented.
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42. Training plays an important role in customer service and relationship building.
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43. The authority that employees are given to swiftly solve customers’ problems is referred to as _______.
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44. Employees are more likely to take prudent risks to build stronger business and sustain the company’s success in addition to taking responsibility for their actions when they are ______.
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45. The organizations that are frequently noted for delivering superior customer value and providing high levels of customer satisfaction assign employees to teams and teach them team-building skills.
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46. Applying employees’ collaborative efforts to accomplish common organizational objectives is known as ______.
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47. A sales-oriented firm defines its mission in terms of benefits its customers seek, while a market-oriented firm defines its business in terms of goods and services.
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48. A market-oriented firm has a competitive advantage over its sales-oriented counterpart because ______.
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49. All of the following are advantages of defining a firm’s mission in terms of benefits that customers seek except for which one?
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50. PQR Corporation is a sales-oriented firm that focuses on high sales. It does not take into account the customer’s wants and needs, and instead concentrates on manufacturing products that will reap high profits. This attitude might lead to the firm’s missing business opportunities because ______.
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51. A sales-oriented firm targets its products at everybody, while a market-oriented organization aims at selling its products to a specific customer group.
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52. The management of GH Apparel has thoroughly analyzed the market and recognizes the wants and needs of different customer groups. It takes all these findings into consideration and develops different types of goods that cater to each group. From this scenario, it is evident that GH Apparel is a ______ organization.
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53. The company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups is called ______.
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54. The process of delivering relevant experiences that are integrated across both physical and virtual environments, throughout the consumer’s decision and buying process, is known as ______.
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55. Which of the following statements is true of on-demand marketing?
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56. In the context of on-demand marketing, which statement is true of a sales-oriented firm?
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57. High-quality customer-friendly experiences such as sales, service, product use, and marketing are crucial to the success of ______.
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58. An organization that devises strategies to convince a customer to buy their product in spite of acknowledging the mismatch between the customer and the product is said to be a _______ organization.
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59. In the context of marketing, which of the following statements is true of nonprofit organizations?
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60. Thrift stores seek to achieve profitability through high sales volumes.
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61. A firm that acknowledges the importance of all four marketing mix decisions (product decisions, place or distribution decisions, promotion decisions, and pricing decisions) is a ______ firm.
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62. Marketing determines prices and pricing policies that contribute to achieving the fundamental objectives of most businesses.
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63. Marketing career opportunities almost exclusively exist in nonbusiness organizations.
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