Marketing – Final Test Answers

As discussed in class, Tide was able to maintain its success over a 30-year time span by:

Answer: As discussed in class, Tide was able to maintain its success over a 30-year time span by modifying the product formulation several times to stay compatible with trends in the laundry market.

 

Donald Trump announced he was personally boycotting which snack product?

Answer: In August 2015, Presidential candidate Donald Trump announced his support for the boycott, expressing his disappointment because Mondelez was an “American company” and promising never to eat another Oreo. Competitor Hydrox moved to capitalize on the boycott by printing an American flag on their packaging.

 

The best marketed products often outsell the products that are technically superior.

Answer: False.

 

Which midwestern computer company shipped its products in cow-spotted boxes?

Answer: Gateway built brand recognition in part by shipping computers in spotted boxes patterned after Holstein cow markings.

 

What are some of the ways in which one smooth stone delivers quality to its clients?

Answer: One Smooth Stone “practices humanity, integrity, and accountability in serving our clients and each other’s”.

 

Before you decide whether to use the cost-plus model, it’s important to thoroughly research:

A. buying behaviour in similar industries.
B. profit margins in neighbouring states.
C. your industry’s going rate.
D. competitors’ operating processes.

 

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

 

According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is True.

 

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

 

Sara Lee Industries spent considerable money and time developing crustless bread. Prior to the introduction, the company had 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 is True.

 

Unlike a production-orientated firm, a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort is False.

 

The focus of a production-oriented firm is on what it can make or do best is True.

 

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

 

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

 

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

 

Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what the market wants is False.

 

Customer value is the relationship between company profits and company costs is False.

 

The way to achieve customer satisfaction and value is to offer the lowest price is False.

 

3D Systems is a company that uses computers to generate new product prototypes. It has generated loyal business clients by providing the best customer support in the industry. The company also provides direct sales consultations that give its salespeople intimate knowledge about what exactly its customers want. This partnership between 3D Systems and its customers entails relationship marketing is True.

 

Only a firm’s salespeople need to be customer oriented is False.

 

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

 

In the early 1920s, Ford promised its customers any color vehicle they wanted as long as it was black. Ford’s management assumed 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 is False.

 

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

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