Financial Management

Download the full ﬁle instantly at hp://testbankinstant.com 23) Which of the following statements is true of the selling concept? A) It requires minimum promotion efforts. B) It creates long-term, profitable customer relationships. C) It takes an outside-in perspective. D) It is typically practiced with unsought goods. E) It follows the customer-centered sense-and-respond philosophy. Answer: D Page Ref: 9 Skill: Concept Objective: 1-3 Difficulty: Moderate 24) Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships? A) the marketing concept B) the production concept C) the product concept D) the selling concept E) the societal marketing concept Answer: D Page Ref: 10 Skill: Concept Objective: 1-3 Difficulty: Easy 25) Which of the following marketing orientations 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) the product concept B) the production concept C) the selling concept D) the marketing concept E) the societal marketing concept Answer: D Page Ref: 10 Skill: Concept Objective: 1-3 Difficulty: Easy Download the full ﬁle instantly at hp://testbankinstant.com Download the full ﬁle instantly at hp://testbankinstant.com 26) Which of the following follows a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy? A) market segmentation B) the production concept C) the marketing concept D) the inside-out perspective E) marketing myopia Answer: C Page Ref: 10 Skill: Concept Objective: 1-3 Difficulty: Easy 27) A firm that uses the selling concept takes a(n) ________ approach. A) outside-in B) niche marketing C) inside-out D) societal marketing E) customer-driven Answer: C Page Ref: 10 Skill: Concept Objective: 1-3 Difficulty: Easy 28) The marketing concept that starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers takes a(n) ________. A) outside-in perspective B) product-centered make-and-sell philosophy C) inside-out perspective D) consumer-generated marketing approach E) telling-and-selling approach Answer: A Page Ref: 10 Skill: Concept Objective: 1-3 Difficulty: Easy Download the full ﬁle instantly at hp://testbankinstant.com

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