Liberty University

LIFC 604

1)A firm embracing marketing as a philosophy has an external orientation.

2. -Sales and finance orientations are both examples of internal orientations based on marketing as a philosophy.

3. -The firm with an operations orientation typically focuses upon reducing unit costs.

4. -Firms with a technology orientation spend little on marketing research and planning, target customers indiscriminately, offer too many products, and over-invest in finished-goods inventories.

5. -Determine and recommend which markets to address is the first of the six marketing imperatives.

6. -The marketing mix is the total benefits package the firm offers to its customers.

7. -Promotion embraces the various ways the firm communicates with its customers—informing and persuading customers to purchase its products.

8-The Principle of Customer Value states that success depends on providing value to customers .

9-The Principle of Differential Advantage is similar to having a competitive advantage, unique selling proposition, or edge, and lies at the heart of every successful marketing strategy.

10-According to the text, the Principle of Selectivity and Concentration is at the heart of the decision process and is a basic principle of market strategy.

11-The Principle of Selectivity and Concentration focuses on key issues of realising the danger of attempting too much and dissipating the impact of limited resources by spreading them over too many alternatives.  

12-The Principle of Customer Value states that success in targeted market segments is directly related to the firm’s ability to provide perceived value to customers.

13-The Principle of Integration is central to understanding the job of the marketing manager, and drives marketing research activity that seeks to probe deeply into customer needs, wants, priorities, and experiences. 

14-The Principle of Differential Advantage is loosely equivalent to what is sometimes called competitive advantage, unique selling proposition, or edge, and lies at the heart of every successful marketing strategy.

15-The Principle of Integration states that to assure success, all elements in design and execution must be carefully integrated and coordinated.

-16According to the text, integration is most likely secured in those organisations with a corporate-wide internal perspective.

17-Accounting profit is mentioned in the text as a new way of viewing the business environment.

18-A firm embracing marketing as a philosophy has a(n)                                           ..

19 - All of the following are examples of internal orientations based on marketing as a philosophy EXCEPT:

20-The firm with a(n)                                           orientation typically focuses upon reducing unit costs.

21-Firms with a(n)                                              orientation spend little on marketing research and planning, target customers indiscriminately, offer too many products, and over-invest in finished-goods inventories.

22 -The firm with a(n)                                       orientation focus mortgages its future by indiscriminately cutting back on R&D, capital investment, marketing research, and/or advertising.

23-A firm with a(n)                                             orientation focuses on research, development, and engineering and pays little attention to customer value.

24-Which of the following is the first of the six marketing imperatives?

25-Which of the following is the final stage of the six marketing imperatives?

26-                                                states that marketing must identify and target market segments— groups of customers with similar needs that value similar benefits, with similar priority levels.

27-According to the text, which of the following is NOT one of the four principles of marketing?

28-The                                       is the total benefits package the firm offers to its customers.

29-In general, the                                     embodies the major benefits the firm offers to satisfy customer needs.

• 30                                     embraces the various ways the firm communicates with its customers— informing and persuading customers to purchase its products.
• 31                                     focuses on how and where the customer secures the product.

32-Which of the following is NOT one of the four principles that are fundamental to successful execution of the marketing role?

33-According to the text, which of the following principles is about choosing a firm’s battles?