Marketing > QUESTIONS & ANSWERS > California State University, Long BeachMKTG 300 MARKETING Exam 1. ( 100% CORRECT ANSWERS ) DOWNLOAD (All)

California State University, Long BeachMKTG 300 MARKETING Exam 1. ( 100% CORRECT ANSWERS ) DOWNLOAD TO SCORE A

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Chapter 1 1. One facet of marketing is that it is: a. an approach that focuses on maximizing sales b. a short-term oriented approach to profit maximization c. an approach that requires diversity ... d. a philosophy that stresses customer satisfaction e. independent of value creation ANS: D Marketing has two facets. First, it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. Second, marketing is an organization function and a set of processes used to implement this philosophy. PTS: 1 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Level II Comprehension 2. 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. a control system b. marketing c. accounting d. production e. human resources ANS: B Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. PTS: 1 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Pricing | CB&E Model Product | CB&E Model Distribution MSC: BLOOMS Level IV Analysis 3. _____ is a set of activities used to implement a management orientation that stresses customer satisfaction. a. Planning strategy b. Customer management c. Marketing d. A control system e. Reciprocity ANS: C This is the focus of marketing. PTS: 1 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Product MSC: BLOOMS Level II Comprehension 4. The American Marketing Association’s definition of marketing: a. is limited to promotional activities b. focuses on the value of empowerment, teamwork, and customer value c. shows how marketing benefits the marketerd. relies on the synergy created by exchange e. includes creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ANS: E According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. PTS: 1 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Level I Knowledge 5. Which of the following occurs when people give up something in order to receive something they would rather have? a. Exchange b. Synergy c. Transformation d. Leveraging e. Reciprocity ANS: A Exchange is people giving up something to receive something they would rather have. PTS: 1 OBJ: 01-1 TOP: AACSB Reflective Thinking KEY: CB&E Model Product MSC: BLOOMS Level I Knowledge [Show More]

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