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Principles of Marketing (MindTap - Cengage Learning) Quizzes 1, 2,3,4,6,8,9,10,11,14,15,16,18,19 Questions and Answers 100% Pass

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Principles of Marketing (MindTap - Cengage Learning)
Quizzes 1, 2,3,4,6,8,9,10,11,14,15,16,18,19 Questions and
Answers 100% Pass

Chapter 1

Which of the following activities is not correct about the marketing concept? -

ANSWER✔✔-Focusing on internal capabilities rather than on customer wants and

needs.

Which of the following statements is true regarding companies engaged in relationship

marketing? - ANSWER✔✔-They are focused on improving rapport with current

customers

When someone gives up something in order to receive something else they would

rather have, it is called: - ANSWER✔✔-An exchange

Shelby is looking to purchase a new car. She knows from her marketing class, that she

should research the different models she is interested in and evaluate the alternatives

before making such a large purchase. This demonstrates which reason to study

marketing? - ANSWER✔✔-Marketing is part of everyday life

Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/21

,Which of the following is a reason for firms to adopt a societal marketing orientation? -

ANSWER✔✔-Growing environmental concerns

Which of the following statements is a difference between a production orientation and

a sales orientation? - ANSWER✔✔-A production orientation focuses on the internal

capabilities of a firm, while a sales orientation focusses on increasing a firm's profits by

using aggressive advertisements.

In the context of marketing management philosophies, a sales orientation aims at -

ANSWER✔✔-pushing manufacturers' products more aggressively to achieve high

profits.

Which of the following statements is true of production-oriented firms? - ANSWER✔✔-

These firms survive and prosper where competition is weak.

In the context of relationship marketing, which of the following statements is true of

employees who are empowered? - ANSWER✔✔-They develop ownership attitudes.

The relationship between the benefits a consumer receives from a product or service

and what they give up to obtain those benefits is known as: - ANSWER✔✔-customer

value

Chapter 2

Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/21

, CVS Health engaged in strategic planning when it: - ANSWER✔✔-decided to no longer

sell tobacco products in its stores

In the context of the marketing mix, the goal of distribution strategies is to -

ANSWER✔✔-ensure that products arrive in usable condition at designated places when

needed.

According to Ansoff's strategic opportunity matrix, a company is most likely to be

using a market development strategy when - ANSWER✔✔-it sells existing products to

new and existing buyers.

In the context of the marketing mix, _____ is often the most flexible of the four Ps—the

quickest element to change. - ANSWER✔✔-price

When a business asks "What business are we in?" they are: - ANSWER✔✔-defining

their business mission

Which of the following statements refers to the target market strategy? - ANSWER✔✔-

Target markets can be selected by appealing to the entire market with one marketing

mix.

LG, a South Korean electronics company, has four divisions: Home Entertainment,

Mobile Communications, Home Appliance & Air Solution, and Vehicle Components. In

order for each of these divisions to be considered strategic business units, which of the

following must be true? - ANSWER✔✔-. Each division plans independently of the

others.
Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/21

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Principles of Marketing (MindTap - Cengage Learning) Quizzes 1, 2,3,4,6,8,9,10,11,14,15,16,18,19 Questions and Answers 100% Pass

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