Which of the following is a difference between profit organizations and nonprofit organizations quizlet?

Which of the following statements about marketing is true?

Marketing only occurs when two or more parties are willing to exchange one thing for another thing.

Marketing focuses on facilitating exchanges. In fact, marketing does not occur unless two or more parties are willing to exchange something for something else. For example, in a pure subsistence economy—when each family unit produces everything it consumes—there is no need to exchange goods and services and no marketing is involved.

In a command economy,

producers have little choice about what goods and services to produce.
In a command economy, where government officials decide what is produced and distributed, producers have limited influence or role in the production, promotion, and distribution of goods and services.

Based on the following company statements, which company is most likely to be in the marketing company era?

"Our long range plan—developed by our marketing manager—is to expand across regions so that we can profitably meet the long-term needs of our customers."

The marketing company era is a time when, in addition to short-run marketing planning, marketing people develop long-range plans—sometimes five or more years ahead—and the whole-company effort is guided by the marketing concept.

Which of the following represents the basic goal of the marketing concept?

satisfying customers at a profit

The marketing concept means that an organization aims all its efforts at satisfying its customers at a profit. The marketing concept is not a new idea—it has been around for a long time. Nevertheless, some managers show little interest in customers' needs.

Firms that facilitate or provide one or more of the marketing functions other than buying are known as

collaborators.

Marketing specialists that facilitate or provide one or more of the marketing functions other than buying are known as collaborators. These collaborators include advertising agencies, marketing research firms, independent product-testing laboratories, Internet service providers, public warehouses, and so on.

With regard to the universal functions of marketing, the transporting function involves

moving goods from one place to another.

The universal functions of marketing are buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information. The transporting function refers to the movement of goods from one place to another. The storing function involves holding goods until customers need them.

Which of the following activities is part of the production process?

making goods or performing services

Production refers to the process of actually making goods or performing services. Marketing, on the other hand, provides needed direction for production and helps make sure that the right goods and services are produced in the necessary amounts, and that they find their way to consumers.

Which of the following functions of marketing involves sorting products according to their size and quality, helping to reduce their need for inspection, and sampling?

the standardization and grading function

The universal functions of marketing are buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information. They must be performed in all macro-marketing systems. The standardization and grading function involves sorting products according to size and quality. This makes buying and selling easier because it reduces the need for inspection and sampling.

Which of the following is a difference between business firms and nonprofit firms with regard to the marketing concept?

Nonprofit organizations' key measures of long-term success differ from those of other business firms.
As with a business, a nonprofit must take in as much money as it spends or it will not survive. However, a nonprofit organization does not measure "profit" in the same way as a firm. Moreover, its key measures of long-term success are different.

A firm lists its products on Amazon.com, enabling customers to make their purchases online. This is an example of

e-commerce.

E-commerce is the use of information technology, including search engines and online retailers, to facilitate exchanges.

Which of the following best describes marketing?

Marketing should guide production, accounting, and financial activities.

Marketing should guide the activities of a firm's departments, but it should not take over these activities.

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?

a triple bottom line

This company is using a triple bottom line, which means looking at the firm's economic, social, and environmental outcomes, to measure its long-term success.

The concept of social responsibility is challenging for marketers except when

the needs of consumers and the society can be served at a profit.

The marketing concept and social responsibility occasionally encounter the "micro-macro dilemma," where what is "good" for some firms and consumers may not be good for society as a whole. Since resolving this dilemma can result in lower profits or inferior products, marketing people may look for market opportunities where the needs of consumers and firms are congruent with the perceived good of the whole society.

Which of the following statements is true of marketing-oriented firms?

In a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit.

A marketing orientation means trying to carry out the marketing concept. Instead of just trying to get customers to buy what the firm has produced, a marketing-oriented firm tries to offer customers what they need while still making a profit. The total system's effort is guided by what customers want, instead of what each department would like to do. The marketing concept provides a guiding focus that all departments adopt. It should be the philosophy of the whole organization, not just an idea that applies to the marketing department.

When a firm manufactures a product and is uncertain about whether customers will want to buy its products, that firm is experiencing the ______ function of marketing.

risk-taking

The universal functions of marketing are buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information. The risk-taking function involves firms dealing with the uncertainties of the marketing process.

Which of the following is not a reason why a restaurant may have low customer value?

The cost of the dining experience is less than its perceived value.

Customer value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits. In a restaurant setting, perceived benefits include food quality, service, and ambience. Costs of dining include prices, inconvenience of travel, and wait times. High customer value happens when the benefits of the dining experience are high and the various costs are low.

Which of the following is not an example of the micro-macro dilemma?

Having a dog or cat can teach a child responsibility, but a pet adds expenses to the family budget.

Sometimes when a firm focuses its efforts on satisfying certain consumers to achieve its objectives, there may be negative effects on society. For example, producers and consumers making free choices can cause conflicts and difficulties. This is called the micro-macro dilemma.

Government planning in a command economy is least likely to work well when

Government planning in a command economy may work fairly well as long as an economy is simple and the variety of goods and services is small. It may even be necessary under certain conditions—during wartime, drought, or political instability, for example. However, as economies become increasingly complex, government planning becomes more difficult and tends to break down.

Which of the following is true of a market-directed economy?

Macro-level decisions for the whole economy are based on the individual decisions of the economy's many producers and consumers.

In a market-directed economy, the economy's macro-level decisions are determined by the individual decisions of the economy's producers and consumers.

Which of the following terms can be defined as the extent to which a firm fulfills a customer's needs, desires, and expectations?

customer satisfaction

Customer satisfaction is the extent to which a firm fulfills a customer's needs, desires, and expectations. Marketing plays an essential role in providing consumers with need-satisfying goods and services and, more generally, in creating customer satisfaction.

Which of the following statements best explains the "marketing concept"?

All of a firm's activities and resources should be focused on fulfilling the needs of its customers while making a profit.

The marketing concept means that an organization aims all its efforts at satisfying its customers—at a profit. The marketing concept is not a new idea—it has been around for a long time. Nevertheless, some managers show little interest in customers' needs.

Which of the following statements about nonprofit organizations is false?

In nonprofit organizations, support often comes directly from those who receive the benefits the organization produces.

The marketing concept is as important for nonprofit organizations as it is for business firms. As with any business firm, a nonprofit organization needs resources and support to survive and achieve its objectives, yet support often does not come directly from those who receive the benefits the organization produces.

In the context of the universal functions of marketing, the _____ function of marketing involves holding goods until customers need them.

storing

The universal functions of marketing are buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information. The storing function involves holding goods until customers need them.

Macro-marketing

is concerned with the flow of need-satisfying goods and services from producer to consumer.

Macro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society. With macro-marketing, we are still concerned with the flow of need-satisfying goods and services from producer to consumer. However, the emphasis with macro-marketing is not on the activities of individual organizations but is, instead, on how the whole marketing system works. This includes looking at how marketing affects society and vice versa.

From the perspective of macro-marketing, the discrepancy between the small quantity of a product that individual consumers need and the large quantity that firms produce exists because

firms seek to benefit from economies of scale.

Many manufacturers prefer mass production with its economies of scale, which means that as a company produces larger numbers of a particular product, the cost of each unit of the product goes down. Yet while most consumers only want to buy a small quantity, they also want a wide assortment of different goods and services. This is a leading cause of the discrepancies of quantity and assortment that exist between producers and consumers.

Which of the following is a difference between profit organizations and nonprofit organizations?

What is the difference between a for

Which of the following is a difference between business firms and nonprofit firms?

What is a nonprofit organization quizlet?