Test Bank for A Preface to Marketing Management, 15th Edition by Paul Peter
3 views 0 purchase
Course
Financial management
Institution
Financial Management
Test Bank for A Preface to Marketing Management, 15th Edition by Paul Peter and James Donnelly.
ISBN10: | ISBN13: 9781260151619
Tb for A Preface to Marketing Management 15e peter.
TEST BANK A Preface to Marketing Management, 15th Edition Paul Peter
Chapter 01. Strategic Planning and the Marketing Management Process
Answer Key
Multiple Choice Questions
1. Emergo International Company conducts market research to find out the interests and needs of
its customers. Based on the research reports, the organization devises plans to meet the
customers' needs and wants and manufactures products that are useful to them. Identify the
marketing concept that Emergo International Company has adopted.
A. Production orientation
B. Market orientation
C. The BCG model
D. The GE model
Emergo International Company has adopted the marketing concept of market orientation. The
purpose of the marketing concept is to rivet the attention of organizations on serving customer
needs and wants. Marketing orientation differs dramatically from a production orientation that
focuses on making products and then trying to sell them to customers.
AACSB: Reflective Thinking
Blooms: Apply
Difficulty: 3 Hard
Topic: The Marketing Concept
,2. Which of the following is the principle task of an organization with a market orientation?
A. To manipulate customers to do what suits its interests
B. To focus on making products and then trying to sell them to customers
C. To find effective and efficient means to satisfy the interests of customers
D. To ensure that employees come first in organizational decision making
The principle task of an organization with a market orientation is not to manipulate customers
to do what suits its interests but rather to find effective and efficient means to satisfy the
interests of customers. Effective marketing requires that customers come first in organizational
decision making.
AACSB: Analytical Thinking
Blooms: Understand
Difficulty: 2 Medium
Topic: The Marketing Concept
3. The purpose of the marketing concept is to rivet the attention of organizations on serving
_____.
A. supplier needs and wants
B. employee needs and wants
C. management needs and wants
D. customer needs and wants
The purpose of the marketing concept is to rivet the attention of organizations on serving
customer needs and wants. Thus, effective marketing starts with the recognition of customer
needs and wants and then works backward to create products and services to satisfy them.
,4. The crux of the marketing concept is focusing on building long-term _____ in which an initial
sale is only an early step in the relationship, not an end goal.
A. mass marketing strategies
B. product-oriented teams
C. research capabilities
D. customer relationships
The marketing concept means that an organization should seek to make a profit by serving the
needs of customer groups. This means that organizations should focus on building long-term
customer relationships in which an initial sale is only an early step in the relationship, not an
end goal.
5. According to the marketing concept, the customer will be more satisfied and the firm will be
more profitable when the:
A. organizations and customers have a long-term relationship.
B. organization's marketing process is solely product-oriented.
C. products are advertised frequently but have no clear target markets.
D. firm operates primarily through a selling orientation in the market.
Organizations should focus on building long-term customer relationships in which an initial sale
is only an early step in the relationship, not an end goal. Long-term relationships between
organizations and customers lead to higher levels of profits and higher levels of customer
satisfaction.
AACSB: Analytical Thinking
Blooms: Understand
Difficulty: 2 Medium
Topic: The Marketing Concept
, 6. Midas Corporation is a sporting goods manufacturer. Most of its energies and resources are
devoted to manufacturing and selling a line of sports shoes that has been a reasonable hit in
the past. The company rarely undertakes any marketing research studies to assess consumer
wants and needs and seldom devises new advertising or promotional strategies. Midas
Corporation is exhibiting _____.
A. investor orientation
B. market orientation
C. customer orientation
D. production orientation
Midas Corporation is exhibiting a production orientation because it focuses on an existing line
of products. Production orientation focuses on making products and then trying to sell them to
customers.
AACSB: Reflective Thinking
Blooms: Apply
Difficulty: 3 Hard
Topic: The Marketing Concept
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller docusity. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $24.99. You're not tied to anything after your purchase.
