GSU Marketing 3010 Exam 1 (Chp. 1-5) QUESTIONS AND ANSWERS

GSU Marketing 3010 Exam 1 (Chp. 1-5) Which of the following represents the basic goal of the marketing concept? ANS -satisfying customers at a profit As part of its plans for long-term success, a company that manufactures frozen dinners focuses specifically on making a profit while using sustainably farmed ingredients and compostable packaging that both employees and customers can feel good about. Which of the following best describes the guidelines this company is using to measure its long-term success? ANS -a triple bottom line Which of the following statements best explains the "marketing concept"? ANS -A firm should always attempt to give customers what they need, regardless of the cost involved. A company's chief executive should have prior experience as a marketing manager. Firms today should spend more money on marketing than they have in the past. All of a firm's activities and resources should be focused on fulfilling the needs of its customers while making a profit. A firm's main emphasis should be on the efficient utilization of its resources.