LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
30) The selling concept holds that ________.
A) consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts
B) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests
C) consumers will only favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and innovative features
Answer: A
Diff: 2
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
31) Which of the following is a difference between the marketing concept and the selling concept?
A) The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.
B) The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers.
C) The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective.
D) The marketing concept is product-centered, whereas the selling concept is production-centered.
E) The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships.
Answer: A
Diff: 2
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
32) The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
A) marketing
B) product
C) production
D) selling
E) societal marketing
Answer: A
Diff: 1
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
33) Which of the following concepts is based on a customer-centered philosophy?
A) the product concept
B) the marketing concept
C) the production concept
D) the selling concept
E) the distribution concept
Answer: B
Diff: 1
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Application of knowledge
34) Customer-driven marketing is most effective when ________.
A) a clear need exists among customers, but the need is difficult to identify
B) customers do not know what they want but are easily persuaded
C) customers seek new products and technological innovations
D) clear needs exist and customers know what they want
E) customers have wants but cannot afford them
Answer: D
Diff: 2
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Reflective thinking
35) ________ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.