Marketing Principle Quiz

Topics: Marketing, Strategic management, Marketing plan Pages: 89 (20155 words) Published: January 25, 2011
Chapter 1
 Question 1 | 1 out of 1 points   |
| 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 bar of soap. It had a _____ orientation. | | | | | Selected Answer:|  a.  production |

Correct Answer:|  a.  production |
Feedback:| The production orientation forces a company to build whatever it builds best, that is, whatever it has the experience and expertise in doing. |
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  Question 2 | 1 out of 1 points   |
| Redefining the business mission of a mattress manufacturer as “a good night’s sleep,” rather than stating the mission as “the manufacture of high-quality mattresses” will | | | | | Selected Answer:|  b.  help ensure the firm retains its focus on consumers and does not become preoccupied with its products and internal needs. | Correct Answer:|  b.  help ensure the firm retains its focus on consumers and does not become preoccupied with its products and internal needs. | Feedback:| The broader business mission of “a good night sleep” will stimulate innovation and creativity because not all sleep aids are mattresses. It will lead the company to further growth. |

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  Question 3 | 1 out of 1 points   |
| For an exchange to take place | | | |
| Selected Answer:|  a.  there must be at least two parties involved. | Correct Answer:|  a.  there must be at least two parties involved. |
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  Question 4 | 1 out of 1 points   |
| Jacques Torres Chocolate is a factory and retail store. Its owner is willing to try to produce new products when his customers suggest them—such as chili-pepper-laced chocolate candy. His only condition is that when he adds new products, his customers have the final say on whether the product is of any value. According to Torres, “If something doesn’t move, that’s the last time you see it.” Apparently Jacques Torres Chocolate | | | | | Selected Answer:|  c.  profits through customer satisfaction. | Correct Answer:|  c.  profits through customer satisfaction. | Feedback:| Jacques Torres Chocolate has a market orientation. |

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  Question 5 | 1 out of 1 points   |
| What is the fundamental objective of most businesses? | | | | | Selected Answer:|  a.  survival, profits, and growth | Correct Answer:|  a.  survival, profits, and growth |
Feedback:| The use of marketing allows businesses to achieve this objective. |
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  Question 6 | 1 out of 1 points   |
| Which of the following measures would be the best indicator of whether your organization’s personnel have a customer orientation? | | | | | Selected Answer:|  c.  Survey customers on how oriented the organization’s personnel are to customer needs and desires. | Correct Answer:|  c.  Survey customers on how oriented the organization’s personnel are to customer needs and desires. | Feedback:| The key to assessing how customer oriented a firm’s personnel are is to ask the customer. Only the customer can provide this type of information. |

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  Question 7 | 1 out of 1 points   |
| One of the reasons given for the decline of the passenger rail industry is that the industry defined its mission as trains and not as transportation sources. The railroad industry failed to | | | | | Selected Answer:|  b.  define its mission in terms of the benefits its customers seek. | Correct Answer:|  b.  define its mission in terms of the benefits its customers seek. | Feedback:| A market-oriented firm defines its business in terms of the benefits its customers seek. Because of the limited way the railroad industry defined its business, it missed an opportunity to define itself in terms of the benefits customers were seeking. |...
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