Marketing Test 1


Created by brownie4u417 on 09/29/2009

Take the Marketing Test 1 test.

In order for exchange to occur:

For an exchange to take place:

A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation.

A firm with a production orientation is most likely to survive if:

The _____ orientation assumes people will buy more if aggressive selling techniques are used.

If a company uses a sales orientation, consumer complaints would most likely result in:

Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that:

A company that has a market orientation and adheres to the marketing concept does NOT:

An organization with a(n) _____ believes that it exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests.

Which of the following statements about the societal orientation is true?

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created.

_____ is a strategy that entails forging long-term partnerships with customers.

Which of the following measures would be the best indicator of whether your organization's personnel have a customer orientation?

Some market-oriented firms give employees expanded authority to solve customer problems on the spot. This is known as:

_____ is the collaborative efforts of people to achieve common objectives.

One way to identify the orientation of a firm is to examine its primary goal. If a firm seeks to achieve profitability through sales volume, it would probably be:

_____ is the primary tool used by a sales-oriented organization to achieve its corporate goals.

For a market-oriented organization, the primary tool used to achieve its goals is:

What is the fundamental objective of most businesses?

Corporate social responsibility is defined as the:

_____ is the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profit and help the world at the same time.

The pyramid of corporate social responsibilities contains all of the following components EXCEPT:

The four components of the pyramid of corporate social responsibility are:

Which of the following statements describes ethics?

Which of the following sayings best describes how people with conventional morality act?

Which of the following factors does NOT tend to influence ethical decision making and judgments?

A human resources manager is creating a code of ethics for the employees of the retirement home she works for. Which of the following is NOT an ethics principle she should keep in mind as she creates this code?

A(n) _____ is a defined group that managers feel is most likely to buy a firm's product.

Which of the following statements best describes the typical target market?

The external environment is a strong influence on a target market and can be a source of _____ for the marketing manager.

What is apparently the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans?

What do self-sufficiency, upward mobility, and conformity have in common?

A(n) _____ is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle.

69. A multicultural society is characterized by:

A furniture retailer that specializes in selling entire rooms of furniture has hired you to identify 25 geographic target markets that can be described as multicultural societies. What types of locations should you offer this firm?

Which of the following strategies is appropriate for a marketer to use during a time of economic recession?

Which of the following is sometimes an effective weapon for fighting inflation and recession?

The _____ Act strengthened the Clayton Act to prevent corporate acquisitions that reduce competition.

The Gramm-Leach-Bliley Act and the Health Insurance Portability and Accountability Act are both important laws designed to:

Which of the following statements about a marketing plan is true?

_____ is the process of anticipating events and determining strategies to achieve organizational objectives.

The _____ answers the question, "What business are we in, and where are we going?"

The focus of an organization's mission statement should be on:

After management agrees on a mission statement, it must set objectives. Which of the following is NOT a characteristic of a good objective?

When an organization creates a mission statement that is too narrow, _____ results.

The SWOT acronym refers to a firm’s analysis of its:

_____ is defined as the collection and interpretation of information about forces, events, and relationships that may affect the organization.

Which of the following is a type of strategic alternative that matches products and markets?

_____ is a strategy of increasing market share for present products in existing markets.

_____ is a strategy that attracts new customers to existing products.

_____ is a strategy that creates new products for present markets.

A(n) _____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

Making sure products are available when and where customers want them is the job of which element of the marketing mix?

Which of the following statements about multinational firms is true?

A(n) _____ is a company that is heavily engaged in global trade and moves its resources, goods, services, and skills across national boundaries.

With a _____, a firm produces standardized products to be sold the same way all over the world.

Global marketing standardization:

A business thinking of expanding into global markets needs to examine all of the following external environments EXCEPT:

Central to any society is a common set of values shared by its citizens that determines what is socially acceptable. Marketers refer to these values collectively as a country's:

Which of the following is an important cultural factor that should be considered by global marketers?

A tax levied on the goods entering a country is called a(n):

A(n) _____ is a limit on the amount of a specific product that can enter a country.

The _____ of trade negotiations created the _____, which replaces GATT. This trade agreement dramatically lowers trade barriers worldwide.

The North American Free Trade Agreement (NAFTA) did NOT:

The goal of the Central America Free Trade Agreement (CAFTA) is to:

Which of the following statements about the European Union (EU) is true?

A cooperative of egg producers believes a profitable market for eggs exists overseas where people are not as concerned about cholesterol. If the cooperative decides to export, it will most likely use a(n):

_____ are foreign sales agents-distributors who live in a foreign country and represent a domestic company in sales situations. They perform the same functions as domestic manufacturers' agents who help with financing and shipping.

The _____ is an intermediary in the global market who assumes all risks and sells globally for its own account. The domestic manufacturer usually treats it like a domestic customer.

_____ is a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer segments.

Customer relationship management:

To initiate the CRM cycle, a company must first:

Which of the following statements about the CRM cycle is true?

In a CRM environment, _____ is defined as the informal process of collecting customer information through customer contacts and feedback on product performance.

_____ is the process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization.

Which of the following statements about touch points is true?

In a CRM system, _____ are all areas of the business where customers have contact with the company and data may be gathered and used to guide and direct the decision making within that business unit.

A(n) _____ is a central repository for data from various functional areas of the organization. These data can be shared by all of the organization's departments.

The core of the data warehouse is:

_____ is the addition of information to customer or prospect records for the purpose of better describing or better determining the responsiveness of customers or prospects.

Which of the following statements about a CRM system is true?

_____ uses a past set of occurrences to predict the likelihood that some other occurrence, such as a response or purchase, will take place in the future.

_____ involves developing product offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships.

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