UTA MARK 3321 Richarme Exam 1 Review
(Chapters 1-5) UPDATED ACTUAL Exam
Questions and CORRECT Answers
Which of the following is true of marketing? - CORRECT ANSWER - Marketing efforts
are performed by many departments in an organization.
Marketing is the activity, set of institutions, and processes for creating,_______, _______, and
exchanging offerings that have _______ for customers, clients, partners, and society at large. -
CORRECT ANSWER - Communicating, delivering, value
Which of the following is true of an exchange? - CORRECT ANSWER - Marketing can
occur even if an exchange does not take place.
The four marketing management philosophies are _______. - CORRECT ANSWER -
Production, sales, market, and societal marketing orientations.
A production orientation is successful when _______. - CORRECT ANSWER - Consumer
wants and needs match what the company can best produce.
Which of the following strategies would be most appropriate for a market-oriented firm? -
CORRECT ANSWER - Understanding what products and services customers want and
need and offering those in order to meet organizational objectives.
A disadvantage of a sales orientation is _______. - CORRECT ANSWER - A lack of
understanding customers' wants and needs.
Market-oriented companies are _______ focused while sales-oriented companies are _______
focused. - CORRECT ANSWER - Externally; internally
, Which of the following is true of customer value? - CORRECT ANSWER - Good value is
signified by the quality a customer expects at the price they are willing to pay.
Successful relationship marketing strategies depend on all the following EXCEPT _______. -
CORRECT ANSWER - Offering high-quality products.
For a market-oriented firm, the advantages of considering the benefits customers seek include
which of the following? - CORRECT ANSWER - Allows the company to create new
products and to modify products due to changing customer needs, bolsters creativity and
innovation by encouraging employees to come up with new ways to satisfy customers, and the
company remains focused on the customer rather than the products it produces.
A market-oriented company targets its products to _______ while a sales-oriented company
targets its products to _______. - CORRECT ANSWER - Specific group of customers;
everyone.
Broadly speaking, customer relationship management (CRM) allows marketers to _______. -
CORRECT ANSWER - Collect information about customers and create marketing
promotions and communications specific to groups of consumers.
A market-oriented company _______. - CORRECT ANSWER - Sees marketing as a
company-wide activity.
Market-oriented companies create long-term relationships with customers by doing which of the
following? - CORRECT ANSWER - Providing value to customers.
Delivering products to customers at the right time, in the right place, and at the right price is
illustrated by which of the following reasons to study marketing? - CORRECT
ANSWER - Marketing plays an important role in society.
Which reason to study marketing supports the idea that, as a consumer, you will better
understand the buying process? - CORRECT ANSWER - Marketing impacts your
everyday life.
(Chapters 1-5) UPDATED ACTUAL Exam
Questions and CORRECT Answers
Which of the following is true of marketing? - CORRECT ANSWER - Marketing efforts
are performed by many departments in an organization.
Marketing is the activity, set of institutions, and processes for creating,_______, _______, and
exchanging offerings that have _______ for customers, clients, partners, and society at large. -
CORRECT ANSWER - Communicating, delivering, value
Which of the following is true of an exchange? - CORRECT ANSWER - Marketing can
occur even if an exchange does not take place.
The four marketing management philosophies are _______. - CORRECT ANSWER -
Production, sales, market, and societal marketing orientations.
A production orientation is successful when _______. - CORRECT ANSWER - Consumer
wants and needs match what the company can best produce.
Which of the following strategies would be most appropriate for a market-oriented firm? -
CORRECT ANSWER - Understanding what products and services customers want and
need and offering those in order to meet organizational objectives.
A disadvantage of a sales orientation is _______. - CORRECT ANSWER - A lack of
understanding customers' wants and needs.
Market-oriented companies are _______ focused while sales-oriented companies are _______
focused. - CORRECT ANSWER - Externally; internally
, Which of the following is true of customer value? - CORRECT ANSWER - Good value is
signified by the quality a customer expects at the price they are willing to pay.
Successful relationship marketing strategies depend on all the following EXCEPT _______. -
CORRECT ANSWER - Offering high-quality products.
For a market-oriented firm, the advantages of considering the benefits customers seek include
which of the following? - CORRECT ANSWER - Allows the company to create new
products and to modify products due to changing customer needs, bolsters creativity and
innovation by encouraging employees to come up with new ways to satisfy customers, and the
company remains focused on the customer rather than the products it produces.
A market-oriented company targets its products to _______ while a sales-oriented company
targets its products to _______. - CORRECT ANSWER - Specific group of customers;
everyone.
Broadly speaking, customer relationship management (CRM) allows marketers to _______. -
CORRECT ANSWER - Collect information about customers and create marketing
promotions and communications specific to groups of consumers.
A market-oriented company _______. - CORRECT ANSWER - Sees marketing as a
company-wide activity.
Market-oriented companies create long-term relationships with customers by doing which of the
following? - CORRECT ANSWER - Providing value to customers.
Delivering products to customers at the right time, in the right place, and at the right price is
illustrated by which of the following reasons to study marketing? - CORRECT
ANSWER - Marketing plays an important role in society.
Which reason to study marketing supports the idea that, as a consumer, you will better
understand the buying process? - CORRECT ANSWER - Marketing impacts your
everyday life.
