Question 1

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.
A) marketing concept
B) product concept
C) production concept
D) societal marketing concept
E) selling concept

Accepted Answer

The societal marketing concept is a business philosophy that takes into account societal issues and environmental problems in addition to consumer wants and needs. Fast-food restaurants that prioritize affordable prices and convenience over nutritional value and sustainability are not considering the societal impact of their business practices, making D the best answer.

Question 2

A firm that uses the selling concept takes a(n) ________ approach.
A) outside-in
B) niche marketing
C) inside-out
D) societal marketing
E) customer-driven

Accepted Answer

The selling concept is an inside-out approach where the firm focuses on promoting and selling its products rather than identifying and satisfying customer needs. The firm assumes that customers will not buy enough of its products unless it engages in aggressive selling and promotion efforts.

Question 3

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
A) product
B) production
C) societal marketing
D) marketing
E) selling

Accepted Answer

The concept of continuous product improvement aligns with the product concept, which emphasizes on improving product quality, performance, and innovative features. This concept assumes that customers will choose products that offer the most in quality, performance, and innovative features. It also involves rigorous research and development to create new products or improve existing ones continually.

Question 4

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.
A) outside-in perspective
B) product-centered make-and-sell philosophy
C) inside-out perspective
D) consumer-generated marketing approach
E) telling-and-selling approach

Accepted Answer

The marketing concept takes an outside-in perspective, meaning it starts with understanding the needs and wants of the target market and then developing marketing strategies to meet those needs. The focus is on the customer, not on the product, and all marketing activities are integrated to create a seamless customer experience.

Question 5

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
A) promotion mix
B) product mix
C) marketing mix
D) market offering
E) marketing effort

Accepted Answer

The term "marketing mix" refers to the set of tactics or tools a company uses to promote its brand or product. It includes the four Ps: product, price, promotion, and place. The marketing mix is an essential component of a company's marketing strategy.

Question 6

Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing

Accepted Answer

The given scenario reflects the product concept, which is a business philosophy that emphasizes creating a high-quality product that meets the needs and wants of the target customers. In this case, the railroad managing companies were solely focused on improving the quality, performance, and features of their trains, assuming that customers would prefer their mode of transportation over any other alternatives. They overlooked the changing needs and preferences of customers who might want to use other modes of transportation like cars, buses, and airplanes. The product concept assumes that customers will prefer products that offer the most quality, performance, and features, and this is exactly what the railroad companies were doing. However, this approach can be limiting, as it fails to consider the broader market environment and the needs of other stakeholders, such as society and the environment.

Question 7

Which of the following is a characteristic of customer-driven marketing?
A) Companies understand customer needs even better than customers themselves do.
B) Customers are unaware of their needs.
C) Products are created that meet both existing and latent needs, now and in the future.
D) Customers know what they want.
E) Customers don't know what is possible.

Accepted Answer

The answer of Which of the following is a characteristic...

Question 8

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.
A) Customer-driven
B) Customer-driving
C) Affinity
D) Societal
E) Ambush

Accepted Answer

Customer-driving marketing is a type of marketing where an organization anticipates customer needs even before customers realize their needs and creates products and services to fulfill those needs. This approach involves in-depth market research, analyzing customer behavior, and leveraging data to develop products and services that meet current and future needs. In contrast, customer-driven marketing is focused on understanding and responding to customer needs and wants that are already identified. Therefore, customer-driving marketing goes beyond customer-driven marketing by creating products and services that customers may not have considered yet. The other options, affinity, societal, and ambush marketing, do not relate to the definition given in the question.

Question 9

Which of the following uses a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?
A) market segmentation
B) the production concept
C) the marketing concept
D) the inside-out perspective
E) marketing myopia

Accepted Answer

The marketing concept is based on a customer-centered "sense-and-respond" philosophy, where businesses strive to understand and meet the needs and wants of their target customers. This approach is in contrast to the product-centered "make-and-sell" philosophy of the production concept, which focuses on creating and selling products without necessarily considering customer needs. Market segmentation is a strategy used to identify and target specific groups of customers, while the inside-out perspective is a focus on the company's own abilities and resources rather than external factors. Marketing myopia is a narrow focus on a specific product or service rather than the broader needs and wants of the target market.

Question 10

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.
A) production concept
B) marketing concept
C) selling concept
D) product concept
E) societal marketing concept

Accepted Answer

Jolene's firm practices the selling concept, as they are focused on convincing people to invest in their service through large-scale promotional efforts despite the target market's reluctance to discuss the topic. The selling concept places emphasis on aggressive sales techniques and creating transactions rather than understanding and satisfying customer needs.

Question 11

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?
A) All customers will be delighted.
B) Customer-perceived value will increase.
C) All customers will directly turn into customer evangelists.
D) Not all customers will be satisfied.
E) Customers will not show interest in any other company's products.

Accepted Answer

It is nearly impossible to serve all potential customers with one marketing strategy as each customer has unique wants and needs. Therefore, not all customers will be satisfied, and some may choose to seek out competitors who offer more tailored solutions.

Question 12

________ refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
A) Ambush marketing
B) Evangelism marketing
C) Sustainable marketing
D) Database marketing
E) Affinity marketing

Accepted Answer

Sustainable marketing focuses on meeting the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs, making it socially and environmentally responsible. Ambush marketing refers to a marketing strategy that involves associating a brand with an event without paying sponsorship fees, while evangelism marketing focuses on creating a community of loyal customers who promote the brand through word-of-mouth. Database marketing involves the collection and analysis of customer data to create targeted marketing campaigns, while affinity marketing involves targeting a specific group of consumers with similar interests or affiliations.

Question 13

Which of the following is the aim of the product concept?
A) improve the marketing of a firm's best products
B) market only those products with high customer appeal
C) focus on the target market and make products that meet those customers' demands
D) focus on making continuous product improvements
E) ensure that product promotion has the highest priority

Accepted Answer

The answer of Which of the following is the aim...

Question 14

The societal marketing concept seeks to establish a balance between ________.
A) customer lifetime value and customer equity
B) an inside-out perspective and an outside-in perspective
C) consumer short-run wants and consumer long-run welfare
D) marketing mixes and market offerings
E) customer-driven marketing and customer-driving marketing

Accepted Answer

The societal marketing concept aims to meet the needs and wants of consumers in the short run while also considering their long-run welfare and the impact on society as a whole. This concept seeks to achieve a balance between consumer wants and societal welfare.

Question 15

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) ambush
E) affinity

Accepted Answer

The answer of When customers don't know what they want...

Question 16

The selling concept is typically practiced ________.
A) to balance consumers' wants, company's requirements, and the society's long-run interests
B) with products that offer the most in terms of quality, performance, and innovative features
C) when the company focuses on building long-term customer relationships
D) with goods that buyers normally do not think of buying
E) by customer-driven companies

Accepted Answer

The selling concept is typically practiced with goods that buyers normally do not think of buying. This approach involves aggressive selling and promotion efforts to convince customers to buy a product, even if it is not something they initially considered purchasing. The focus is on pushing products onto customers, rather than addressing their specific needs or desires.

Question 17

Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?
A) the marketing concept
B) the production concept
C) the product concept
D) the selling concept
E) the societal marketing concept

Accepted Answer

The selling concept calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships. It assumes that customers are unlikely to buy a product unless they are aggressively persuaded to do so. This philosophy is often employed by companies with unsought goods, such as life insurance or cemetery plots, as well as firms that sell products consumers may not consider purchasing without prompting, such as redundant work tools.

Question 18

Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
A) the product concept
B) the production concept
C) the selling concept
D) the marketing concept
E) the societal marketing concept

Accepted Answer

The marketing concept holds that organizational goals can be achieved by delivering superior customer value through understanding customer needs and wants and delivering a better solution than competitors. It takes a customer-centric approach to marketing, rather than focusing on just the product, production or selling. The societal marketing concept takes it a step further by considering the greater societal good in addition to customer satisfaction.

Question 19

Which of the following statements is true of the selling concept?
A) It requires minimum promotion efforts.
B) It creates long-term, profitable customer relationships.
C) It takes an outside-in perspective.
D) It is typically practiced with unsought goods.
E) It follows the customer-centered sense-and-respond philosophy.

Accepted Answer

The selling concept is typically practiced with unsought goods, which are products that consumers do not normally think of purchasing, such as insurance or cemetery plots. The selling concept focuses on aggressive sales techniques to generate high sales volume in the short term, rather than building long-term, profitable customer relationships or taking an outside-in perspective. It also requires significant promotion efforts. Therefore, option D is the correct answer.

Question 20

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing

Accepted Answer

Henry Ford's philosophy was focused on the production concept, which emphasized making production efficient and reducing costs to create affordable products for consumers. This allowed him to perfect the Model T and reduce its cost for increased affordability, increasing the accessibility of the automobile to the middle class.

Quiz 1: Marketing: Creating Customer Value and Engagement

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.

A firm that uses the selling concept takes a(n) ________ approach.

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.

Which of the following is a characteristic of customer-driven marketing?

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Which of the following uses a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

________ refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Which of the following is the aim of the product concept?

The societal marketing concept seeks to establish a balance between ________.

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

The selling concept is typically practiced ________.

Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?

Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?

Which of the following statements is true of the selling concept?

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.