Chapter 1

Question 1

The American marketing association’s definition of marketing:

Answer 1

Includes creating, communicating, delivering, and exchanging offerings that have value for customers clients, partners and society at large

Question 2

One facet of marketing is that it is

Answer 2

A philosophy that stressed customer satisfaction

Question 3

_____ is a set of activities used to implement a management orientation that stresses customer satisfaction.

Answer 3

Marketing

Question 4

All of the following are marketing management philosophies EXCEPT:

Answer 4

Profitability orientation

Question 5

The _____ orientation assumes people will buy more if aggressive selling techniques are used.

Answer 5

Sales

Question 6

Marketing is defined as producing, promoting, and selling products.

Answer 6

False

Question 7

An exchange cannot take place unless each party in the exchange has something that the other party values.

Answer 7

True

Question 8

Sara Lee Industries spent considerable money and time developing a crust less bread. Prior to the introduction, the company had not conducted market research among its customers, but it was confident that its science and technology department had produced a successful new product. Based on this example, Sara Lee is a good example of a production-oriented company.

Answer 8

True

Question 9

Marketing is important to business, so marketing should be part of the job of everyone in the organization, not just
those in marketing.

Answer 9

True

Question 10

Name and describe the four marketing management philosophies.

Answer 10

1. PRODUCTION ORIENTATION. This orientation focuses firms on their internal production capabilities rather than the desires and needs of the marketplace.
2. SALES ORIENTATION. This orientation assumes that buyers will purchase more of any item if aggressive selling techniques are used. Again, this orientation does not address the needs and wants of the marketplace.
3. MARKET ORIENTATION. This orientation recognizes that a sale is dependent on the customer’s decision to purchase a product and provides increased responsiveness to customer needs and wants. To market-oriented firms, marketing means building relationships with customers.
4. SOCIETAL MARKETING ORIENTATION. This orientation refines the marketing orientation by stating that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting the organization’s objectives and preserving or enhancing both individuals’ and society’s long-term best interests.