Question 1. Marketing is defined as producing, promoting, and selling products.

1. Marketing is defined as producing, promoting, and selling products.
2. 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 cus-tomers, clients, partners, and society at large.
3. An exchange cannot take place unless each party in the exchange has something that the
other party values.
4. Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to
the intro-duction, 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 ex-ample, Sara Lee is a good example of a production-oriented company.
5. Unlike a production orientated firm, a firm embracing a sales orientation focuses on customer wants
and needs so it can develop the best product at the lowest cost that will require very little selling effort.
6. The marketing concept states that the social and economic justification for an organization’s
existence is the satisfaction of customers’ wants and needs while meeting organizational objectives.
7. The societal marketing concept considers society’s long-term best interests along with the
satisfaction of customers’ wants and needs.
8. The focus of a production-oriented firm is on what it can make or do best.
9. Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what
the market wants.
10. Customer value is the relationship between company profits and company costs.
11. The way to achieve customer satisfaction and value is to offer the lowest price.
12. 3D Systems is a company that uses computers to generate new product prototypes. It has
generated loyal business clients by providing the best customer support in the industry.
The company also pro-vides direct sales consultations that gives its salespeople intimate
knowledge about what exactly its customers want. This partnership between 3D Systems
and its customers entails relationship market-ing.
:
13. Only a firm’s salespeople need to be customer-oriented.
.
14. Retailers who give their sales clerks the authority to handle customer complaints without
having to get approval from a supervisor are using empowerment.
15. In the early 1920s, Ford promised its customers any color vehicle they wanted as long as it was black.
Ford’s management assumed anyone buying a car would accept the color black, so it made products af-fordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm.
.
16. The ultimate goal of most market-oriented firms is profitability that results from satisfying
the wants and needs of its consumers.
:
17. While most marketing organizations rely on various forms of promotion to succeed, sales-oriented or-ganizations make the most effective use of their entire marketing mix.
.
18. Salespeople who work for market-oriented organizations are generally perceived by their
customers as problem solvers and important links to supply sources and new products.
19. Marketing is important to business, so marketing should be part of the job of everyone in
the organiza-tion, not just those in marketing.
20. Approximately 50 percent of the U.S. civilian work force performs marketing activities.
MULTIPLE CHOICE
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
2. A business is concerned with many day-to-day activities. Some of the most important of
these activi-ties are the planning and development of a product, its pricing policy, and the
distribution strategy. These activities are all a part of:
a. a control system
b. marketing

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.