In order for exchange to occur: a/ a compjex societal system must be involved
~ organized marketing activities must also take place jU a profit-oriented organization must be involved in the process
4/ money or other legal tender is required e. each party must have something the other party considers to be valuable
Toyota found that consumers wanted cars to Iast Ionger and be more eiivironmentally friendly. GM, however. enjoyed being the top U.S. car producer, and focused more on how many cars and trucks it could manufacture and not on what customers wanted from a vehicle. GM had more of a orientation. a. sales b. production c. market d. product e. customer Best Buy has become the nation's Iargest specialty retailer by focusing on the customer's needs and wants.
This philosophy is at the heart of an orientation. a. salcs b. market c. retail d. production e. exchange
The marketing concept involves : a. focusing on customershvants so that the organization can distinguish its product (or products) from the competitorsr producte b. satisfying management's needs and wants with the idea of maximizing profits in the short run c-.. selling as much product as possible under the assumption people wiIJ buy more goods and services if aggressive selling techniques are used d. selling as much as possible under the assumption consumers wjjJ buy more at lower prices e. focusing on production in order to increase product quality and lower prices
An organization ,vith a(n) _ believes that it exisis not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests. a. sales orientation b. market orientation c. ethical business mission d. focused target market strategy e. societal oiientation A company that wants to ,mplein ent a market orientation would "eed to: a. do research on its customers, competitors, and markets b. determine how to deliveF superior customer value c. establish and maintain mutually satisfying relationships with customers d. implement actions that provide value to customers e. do all of the activities listed Frequent-flyer programs are an example of financial incentiv es to customers in exchange for th eir continuing patronage. After flying a certain number of miles or flying a specified number of times. the frequei.t-flyer program participant eams a free flight or some other award such as free lodging. Airlines that use freqvent-flyer program s are practicing: a. commitment seIJing b. transaction marketing c. transformationalmarketing d. marketingengineering e. relationship marketing With hospitals nationwide facing budget cuts and slimmer profit margins, Dekalb County's Medical Center decided to cash in on one of the most consistently profItable services--delivering babies. It initiated a three year project to build a $S 5 million state-of-the-art women's center with 18 labor and delivery suites. When the hospital decided to GOrmnit its resources to obstetrics, it was engaging in: a. benchmarking b. alternative problem solving c. strategic planning d. portfolioevaluation e. tacticaLcontrol Earl is starting a new bank. Before their opening day Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years ano 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. reengineering b. hierarchical restructuring c. a financial analysis d. market:iiig plan e. strategic contingency planning Which of the following is one of the elements of the marketing plan? a. a business mission