Question 1

Only a firm's salespeople need to be customer-oriented.

Accepted Answer

Customer orientation should be a company-wide philosophy, and everyone in the organization should strive to provide the best customer experience possible. While salespeople are the primary point of contact with customers, other departments such as marketing, customer service, and product development also play a crucial role in creating a customer-centric culture.

Question 2

The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

Accepted Answer

The societal marketing concept takes into account the interests of society as a whole and balances them with the satisfaction of customers' wants and needs. This approach emphasizes ethical and responsible marketing practices that benefit society as a whole in the long term.

Question 3

In the early 1920's,Ford promised their customers any color that they wanted as long as it was black.Ford's management assumed that anyone buying a car would accept the color black,so it made products affordable by offering only one variety in large quantities.Ford is an example of a market-oriented firm.

Accepted Answer

Ford in the early 1920s was not market-oriented; it was product-oriented, focusing on efficiency and cost reduction rather than customer preferences.

Question 4

A market-oriented organization targets its products to the average customer.

Accepted Answer

A market-oriented organization targets its products to specific segments of customers based on their needs, preferences, and characteristics, rather than the average customer. It focuses on satisfying customers through tailored products, services, and marketing strategies.

Question 5

Marketing is defined as producing,promoting,and selling products.

Accepted Answer

Marketing means more than just producing,promoting,and selling products.It is a philosophy that stresses customer relationships as well as benefiting the organization and its stakeholders.

Question 6

The ultimate goal of most marketing-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

Accepted Answer

This statement is true. The ultimate goal of marketing is to create value for consumers and generate profits for the firm by satisfying their wants and needs.

Question 7

The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customer's wants and needs while meeting organizational objectives.

Accepted Answer

The marketing concept is based on the principle that satisfying customers' wants and needs is the primary goal of an organization, while also achieving its own objectives.

Question 8

Both production and sales orientations are focused inward on the organization's needs.

Accepted Answer

Both production and sales orientations prioritize the organization's own goals and objectives, rather than those of the customer or market.

Question 9

Encyclopedia Britannica marketed full sets of encyclopedias that cost a minimum of $1,500,weighed 118 pounds and required four and a half feet of shelf space.For many years,the company had successfully sold its products door-to-door and defined its business as a book publisher.Encyclopedia Britannica had a market orientation.

Accepted Answer

A market orientation focuses on understanding and meeting customer needs, while Encyclopedia Britannica's approach was more product-oriented, emphasizing the physical attributes and traditional sales methods of their encyclopedias.

Question 10

An exchange cannot take place unless each party in the exchange has something that the other party values.

Accepted Answer

This is a fundamental principle of exchange and trade, known as the double coincidence of wants. Each party must have something of value to the other party, otherwise there is no incentive for the exchange to take place.

Question 11

While most marketing organizations rely on various forms of promotion to succeed,sales-oriented organizations make the most effective use of their marketing mix.

Accepted Answer

Sales-oriented organizations prioritize selling and closing deals over promotion and may even neglect other elements of the marketing mix such as product development and pricing strategies. While promotion is still important, it is not the primary focus for these types of organizations.

Question 12

A marketing-oriented firm defines its business in terms of the benefits it offers to its customers.

Accepted Answer

The answer of A marketing-oriented firm defines its business in...

Question 13

Marketing is an organizational function and a set of processes for creating,communicating,and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Accepted Answer

The answer of Marketing is an organizational function and a...

Question 14

Approximately three-fourths of the U.S.civilian work force performs marketing activities.

Accepted Answer

This statement is false. While marketing is an important aspect of many businesses, it is unlikely that 75% of the civilian work force is directly involved in marketing activities.

Question 15

Firms try to achieve customer satisfaction and value by ensuring that customer expectations are met or exceeded.

Accepted Answer

Yes, firms strive to meet or exceed customer expectations to achieve customer satisfaction and value.

Question 16

Retailers who have give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

Accepted Answer

Empowerment means giving employees the authority and resources to make decisions and take action in their work without having to constantly seek approval from a supervisor. Allowing sales clerks to handle customer complaints without getting approval is an example of empowerment.

Question 17

Customer value is calculated as the ratio of company profits to company costs

Accepted Answer

Customer value is not calculated based on company profits and costs, but rather on the perceived benefits that a customer receives from a product or service relative to its price. It is often measured through customer satisfaction, loyalty, and willingness to pay.

Question 18

Marketing is a job that should be handled by marketers.People in management,accounting,and finance should focus on their own specialties.

Accepted Answer

Marketing can benefit from the insights and collaboration of other departments like management, accounting, and finance, as these areas can provide valuable data and strategic input to enhance marketing efforts.

Question 19

Salespeople who work for market-oriented organizations are generally perceived by their customers to be order takers.

Accepted Answer

Salespeople who work for market-oriented organizations are typically seen as problem solvers, advisors, and consultants rather than simply order takers. They work closely with customers to understand their needs and provide tailored solutions that meet those needs, rather than simply taking orders for standard products or services.

Question 20

Sara Lee Industries spent considerable money and time developing a crustless bread.The company has not conducted market research among its customers,but it was confident that its science and technology department had produced a successful new product.Based on this example,Sara Lee is a good example of a production oriented company.

Accepted Answer

Sara Lee's focus was on developing a new product through its technology and science department without conducting market research, which is a characteristic of a production-oriented company.

Quiz 1: An Overview of Marketing