78) Which of these perspectives best reflects the market-value concept?
A) Products establish a permanent impression of a company's value.
B) Basic needs and customer groups change constantly.
C) Products are transient; basic needs and customer groups endure forever.
D) Products must be constantly redesigned to reflect unstable basic needs.
E) Basic needs really don't change, so fundamental product designs don't need to, either.
Answer: C
Diff: 3
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
79) If a computer manufacturer such as Lenovo changed its strategic viewpoint from "making laptops and desktops" to "helping customers solve digital challenges," it would be adopting which mindset?
A) The marketing concept
B) The product concept
C) The production concept
D) The customer concept
E) The market-value concept
Answer: E
Diff: 3
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
80) If a new CEO announced that from now on the marketing function would be dispersed throughout the organization, with every department expected to contribute to customer success, this would reflect which orientation?
A) The market-value concept
B) The product concept
C) The production concept
D) The customer concept
E) The marketing concept
Answer: A
Diff: 3
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
81) Which of the following holds that consumers prefer products that are widely available and inexpensive?
A) The product concept
B) The production concept
C) The selling concept
D) The performance concept
E) The marketing concept
Answer: B
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
82) Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
A) selling-oriented
B) product-oriented
C) production-oriented
D) marketing-oriented
E) consumer-oriented
Answer: C
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
83) The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
A) product
B) marketing
C) production
D) selling
E) holistic marketing
Answer: A
Diff: 1
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Reflective thinking
84) Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
A) Shopping goods
B) Unsought goods
C) Necessary goods
D) Luxury goods
E) Complementary goods
Answer: B
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking
85) As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a ________ orientation.
A) selling
B) production
C) product
D) marketing
E) social
Answer: B
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking; Application of knowledge
86) Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
A) production orientation
B) product orientation
C) selling orientation
D) marketing orientation
E) holistic marketing orientation
Answer: B
Diff: 2
LO: 1.3: Explain the role of marketing in the organization.
AACSB: Analytical thinking; Application of knowledge
87) Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc. follows the ________ concept in doing business.
A) production
B) product
C) selling
D) marketing