A) ambush marketing
B) social marketing
C) societal marketing
D) target marketing
E) cause marketing
Answer: D
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Challenging
35) An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.
A) marketing mixes
B) market segments
C) value propositions
D) market offerings
E) marketing intermediaries
Answer: B
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Challenging
36) Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
A) customer lock-in
B) a cartel
C) marketing mix
D) value proposition
E) market segmentation
Answer: D
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Easy
37) Which of the following customer questions is answered by a company's value proposition?
A) "Why should I buy your brand rather than a competitor's?"
B) "What is your company's estimated customer equity?"
C) "What are the costs involved in the production of your brand?"
D) "What is the budget allocated by your company for research and development?"
E) "What is the financial stability of your company?"
Answer: A
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Moderate
38) Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept
Answer: A
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Easy
39) Which of the following marketing management concepts is most likely to lead to marketing myopia?
A) customer-driven marketing concept
B) customer-driving marketing concept
C) societal marketing concept
D) marketing concept
E) product concept
Answer: E
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Easy
40) Which of the following statements is true of the production concept?
A) It considers customer focus and value to be the paths to sales and profits.
B) It follows the customer-centered sense-and-respond philosophy.
C) It takes an outside-in perspective.
D) It calls for sustainable marketing.
E) It leads to companies focusing too narrowly on their own operations.
Answer: E
Skill: Concept
Objective: LO 1.3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Difficulty: Moderate
41) The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
A) product
B) production
C) societal marketing
D) marketing
E) selling
Answer: A
AACSB: Application of knowledge