1. Good marketing is no accident, but a result of careful planning and ________.
2. The most formal definition of marketing is ________.
a. meeting needs profitably
b. identifying and meeting human and social needs
c. the 4Ps (Product, Price, Place, Promotion)
d. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders.
e. improving the quality of life for consumers
3. Charles Revson of Revlon observed: “In the factory, we make cosmetics; in the store, ________.”
a. we make profits
b. we challenge competitors
c. we implement ads
d. we sell hope
e. we sell quality
4. A key ingredient of the marketing management process is insightful, ________ marketing strategies and plans that can guide marketing activities.
5. The task of any business is to deliver ________ at a profit.
a. customer needs
c. customer value
d. products and services
e. improved quality
6. Today, the “mass-market” is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria.
b. market targets
d. customer cliques
e. demographic units
7. The Japanese have refined the value delivery process to include a component that emphasizes ________.
a. zero servicing
b. zero customer feedback time
c. zero promotion
d. zero dependency on intermediaries
e. zero marketing costs
8. The firm’s success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct ________.
a. core strategies
b. satellite businesses
c. core values
d. core business processes
e. core technologies
9. The major responsibility for identifying significant marketplace changes falls to the ________.
a. Ministry of Labor & Social Affairs
b. company’s marketers
c. American Marketing Association
d. industry lobby groups found in Washington, D.C.
e. marketing research industry
10. Marketers have extensive information about how consumption patterns vary across countries. On a per capita basis within Western Europe, the ________ smoke the most cigarettes.
11. The company’s marketing information system should be a cross between what managers think they need, what managers really need, and ________.
a. what the marketing research department is able to do
b. what consumers are willing to share
c. what the competition is doing
d. what is acceptable industry practice
e. what is economically feasible
12. A ________ is “unpredictable, short-lived, and without social, economic, and political significance.”
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