MKT 320F Final Exam Questions and Answers 100% Correct | Graded A+
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Course
MKT 320F
Institution
MKT 320F
MKT 320F Final Exam Questions and
Answers 100% Correct | Graded A+
Which marketing management philosophy focuses on the question, "What
do customers want and need?"
A. Sales
B. Market
C. Product
D. Internal
E. Production - B
A company that wants to implement a market orientation would need...
Which marketing management philosophy focuses on the question, "What
do customers want and need?"
A. Sales
B. Market
C. Product
D. Internal
E. Production - ✔✔B
A company that wants to implement a market orientation would need to:
A. do research on its customers, competitors, and markets.
B. do all of the activities listed.
C. establish and maintain mutually satisfying relationships with customers.
D. determine how to deliver superior customer value.
E. implement actions that provide value to customers. - ✔✔B
_____ is defined as the relationship between benefits and the sacrifice
necessary to obtain those benefits.
,A Satisfaction percentage
B Marketing utility
C Market quality
D Customer value
E Opportunity cost - ✔✔D
_____ is a strategy that focuses on keeping and improving relationships
with current customers.
A Organization-customer synergy
B Market engineering
C Relationship marketing
D Transactional marketing
E Commitment selling - ✔✔C
A business is concerned with many day-to-day activities. Some of the most
important of these activities are the planning and development of a product,
its ability to communicate value, its pricing policy, and the distribution
strategy. These activities are all a part of:
A human resources.
B a control system.
C accounting.
D marketing.
, E production. - ✔✔D
Earl is starting a new bank. Before the opening day, Earl had a meeting
with all employees. He discussed their mission, defined objectives for the
bank for the coming years, and shared who their target market is. He talked
about their product offerings and where their future branches would be
located. Earl is sharing the bank's:
A hierarchical restructuring.
B reengineering.
C financial analysis.
D marketing plan.
E strategic contingency. - ✔✔D
A firm that wants to develop a deeper understanding of its customers may
optimize profitability, revenue, and customer satisfaction by focusing on
highly defined and precise customer groups. This is _____:
A sales orientation.
B customer relationship management.
C social orientation.
D customer optimization.
E sales maximization. - ✔✔B
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