A) Production-oriented
B) Customer-driving
C) Customer-driven
D) Functional
E) Societal
Answer: C
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
36) The ABC, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by the ABC company?
A) the selling concept
B) customer-driving marketing
C) the product concept
D) sustainable marketing
E) the production concept
Answer: B
Diff: 3
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
37) The societal marketing concept holds that ________.
A) consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort
B) a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment
C) the society 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: B
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
38) Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets.
A) functional
B) marketing
C) individual
D) societal
E) physical
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: Analytical thinking; Ethical understanding and reasoning
39) Which of the following concepts calls for sustainable marketing?
A) the societal marketing concept
B) the marketing concept
C) the selling concept
D) the production concept
E) the product concept
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; Ethical understanding and reasoning
40) Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept.
A) marketing
B) product
C) production
D) societal marketing
E) selling
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: Analytical thinking; Ethical understanding and reasoning
41) ________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.