Marketing
PPBM4511 Mid Term
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____
a.
b.
c.
d.
e.
1.
The concept of exchange is important to marketing because: if all the conditions for an exchange are in place, then the exchange will be completed exchange provides money to marketers marketing activities help to create exchange marketing activities are a requirement for exchange to take place money is the only medium of exchange for business marketers
____ 2.
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. marketplace b. sales c. market d. exchange e. production ____
a.
b.
c.
d.
e.
3.
The marketing concept includes a goal orientation to remind managers that: achieving long-term organizational goals is as important as satisfying customers customers must be satisfied no matter what the long-term effect on the firm the only reason for any business to exist is to make a profit the objective is to find a target market that differs from that of the competition functional integration of all departments is useful but not essential
____ 4.
The marketing concept stresses that the social and economic justification for an organization 's existence is the satisfaction of customer needs and wants while:
a.
producing a good or service at the lowest possible cost
b.
improving the general standard of living
c.
constantly increasing sales volumes
d.
applying scientific management techniques to improve efficiency
e.
simultaneously meeting organization objectives
____ 5.
For many years, Procter & Gamble (P&G) viewed its Ivory soap as just plain old soap-and not as a cleansing product that could provide other benefits as well. When it came to Ivory soap,
P&G focused on how well it made the soap and not on what customers wanted from a
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____
a.
b.
c.
d.
e.
1.
The concept of exchange is important to marketing because: if all the conditions for an exchange are in place, then the exchange will be completed exchange provides money to marketers marketing activities help to create exchange marketing activities are a requirement for exchange to take place money is the only medium of exchange for business marketers
____ 2.
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. marketplace b. sales c. market d. exchange e. production ____
a.
b.
c.
d.
e.
3.
The marketing concept includes a goal orientation to remind managers that: achieving long-term organizational goals is as important as satisfying customers customers must be satisfied no matter what the long-term effect on the firm the only reason for any business to exist is to make a profit the objective is to find a target market that differs from that of the competition functional integration of all departments is useful but not essential
____ 4.
The marketing concept stresses that the social and economic justification for an organization 's existence is the satisfaction of customer needs and wants while:
a.
producing a good or service at the lowest possible cost
b.
improving the general standard of living
c.
constantly increasing sales volumes
d.
applying scientific management techniques to improve efficiency
e.
simultaneously meeting organization objectives
____ 5.
For many years, Procter & Gamble (P&G) viewed its Ivory soap as just plain old soap-and not as a cleansing product that could provide other benefits as well. When it came to Ivory soap,
P&G focused on how well it made the soap and not on what customers wanted from a