E) social responsibility
Answer: D
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking; Application of knowledge
88) The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
A) production
B) selling
C) marketing
D) product
E) holistic marketing
Answer: B
Diff: 1
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
89) Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.
A) The product concept
B) The production concept
C) The selling concept
D) The marketing concept
E) The holistic marketing concept
Answer: D
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
90) The marketing concept holds that ________.
A) a firm should find the right products for its customers, and not the right customers for its products
B) customers who are coaxed into buying a product will most likely buy it again
C) a new product will not be successful unless it is priced, distributed, and sold properly
D) consumers and businesses, if left alone, won't buy enough of the organization's products
E) a better product will by itself lead people to buy it without much effort from the sellers
Answer: A
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
91) The production concept is one of the newest concepts in business.
Answer: FALSE
Diff: 1
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
92) The marketing concept stresses finding the right customers for the company's products.
Answer: FALSE
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
93) The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Answer: FALSE
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
94) The product concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependence.
Answer: FALSE
Diff: 1
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
95) Why is it important for every business to define the role that marketing will play in the organization?
Answer: Defining marketing's role is important because whatever philosophy the firm adopts will guide its marketing efforts, determine how to organize and manage the marketing department, and, ultimately, find the best means to build a customer-centric organization that can deliver value to company stakeholders.
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
96) How does the marketing concept differ from the selling concept in terms of whose needs have priority?
Answer: With the selling concept, the company's primary concerns are its own needs. With the marketing concept, the priority shifts to the customer's needs.
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
97) How might adopting the market-value view of its activities can redefine the market(s) in which a company competes?
Answer: By shifting its perspective from "what can we make or sell?" to the broader question of "what do customers want or need in order to be satisfied?" a company might discover new market opportunities. These new opportunities would naturally create new competitive concerns as well, as the company could find itself going up against firms it had never before encountered.
Diff: 3
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
98) Arthur Jones has decided to start a business. He wants to manufacture lawn mowers and believes in the production concept. If this approach is taken, what will be Mr. Jones' primary areas of concentration as he builds his business?
Answer: This orientation holds that consumers will prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on high production efficiency, low costs, and mass distribution. Jones will also want an efficient production process in place. This approach is also used when a company wants to expand the market. Students may use these facts as they design their answer.