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MKT 3301 UHD CH 1 EXAM QUESTIONS AND 100% CORRECT ANSWERS
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MKT 3301 UHD CH 1 EXAM QUESTIONS AND 100%CORRECT ANSWERS
According to the ____________ of management, a company should not focus its energies
on trying to be the first to serve its customers but rather on making the products it can
readily make. - ANSWER production orientation
The _____ ______ era describes a stage when a single department in a firm takes over the
firm's marketing activities in an effort to improve marketing activities. - ANSWER
marketing department
The _____ ______ era was characterized by families or other small groups that might sell
or trade to local distributors any extra goods that they might produce. ANSWER simple
trade
The _______ orientation focuses on trying to offer customers what they need, rather than
getting them to buy what the firm produces. The ________ orientation focuses on making
products that are easy to produce and then trying to sell them. - ANSWER marketing,
production
Customer _____ refers to the difference between the benefits a customer sees from a
marketing offer and the costs of obtaining those benefits. - ANSWER value
A craftsman who makes pottery for his family brings extra pieces that he has made to
his general store for sale. This craftsman operates in the _____ era. - ANSWER simple
trade
Criticisms of marketing include ____. (check all that apply) - ANSWER Marketers
over-promise service.
The quality of the product is unsafe and poor.
Marketing exploits the poor.
,Discrepancies of ______ refers tot he fact that it is economical for producers to sell in
large amounts, but individual consumers use products in relatively small amounts. -
ANSWER quantity
Economy of _______ means that as a company produces larger numbers of a particular
product, the cost of each unit of the product goes down. - ANSWER scale
The _____ era is a time when companies focus on the production of a few specific
products perhaps in response to a lack of these products in the existing markets. -
ANSWER production
The ______ function concerns facing the possible negative outcomes of the marketing
process. - ANSWER risk taking
The ______ function concerns locating a product and judging its suitability. - ANSWER
buying
The ______ function of marketing involves keeping manufactured goods until they are
needed by customers. - ANSWER storing
The ______ function of marketing refers to taking goods from one location to another. -
ANSWER transporting
The ______ function of marketing refers to the movement of products from location to
location. - ANSWER transporting
If online shoe retailer Zappos offers superior customer value, what is the sequence of
benefits Zappos can hope to obtain? Start with the first benefit Zappos will attain after it
offers superior customer value. - ANSWER 1. Zappos attracts more customers
2. Zappos satisfies its customers
3. Zappos keeps more of its customers
, 4. Zappos increases sales to its current customers
5. Zappos creates profitable customer relationships
"If we can make it, it will sell" is typical of the ______ era. - ANSWER: production
Improving short-run policy planning and attempting to coordinate a firm's activities
indicate the ______ ______ era. - ANSWER: marketing department
In the ______ era, individual producers need to make only a few types of products
because there are few if any other sources for the products. - ANSWER production
In the ______ era of marketing, all the operations of a firm are guided by marketing
concepts. - ANSWER marketing company
______ involve sorting goods according to their characteristics. - ANSWER
Standardization and grading
During which one of the following periods does the activities of a firm are defined in
terms of marketing based on both short-term and long-term plans? - ANSWER Marketing
company era
During which of the following industries would you be less like to see firms utilizing the
marketing concept because they don't have much competition? (Select all that apply) -
ANSWER Electric utilities
Chemical producers
The ______ is based on the idea that everything a company does should be based on
satisfying company's customers while still making a profit. - ANSWER marketing
concept
The ______ information function involves the gathering and evaluating of data for
marketing activities. - ANSWER market
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