Chapter 8 & 18 – Flashcards
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which of the following concerns the marketing activities of an individual firm?
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micro-marketing
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which of the following concerns how the whole marketing system works?
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macro-marketing
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consumer satisfaction:
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depends on one's own expectations and aspirations
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a customer is more likely to buy a firm's product if:
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the benefits of the marketing mix exceed the cost of the product
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firms are more likely to be successful when:
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they blend the 4 P's properly
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the text concludes that:
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advertising can actually result in lower prices to the consumer
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what is true of advertising?
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advertising can increase demand for the product - resulting in economies of scale in manufacturing, distribution, and sales
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an objective of our macro-marketing system should be to:
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continually seek more satisfying solutions to consumer problems
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developing a "marketing plan":
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provides a blueprint for implementation
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which includes a description of how the 4 P's fit together?
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overview of the marketing strategy
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in a marketing plan, the nature of demand and marginal analysis are part of the _____ component of the marketing mix?
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price
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which reflects advice offered by the text?
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marketing managers should frequently evaluate and adapt marketing strategies
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which is true with regard to what marketers should do to overcome the challenges they face in marketing?
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marketers needs to work harder and smarter at finding ways to satisfy consumer needs without sacrificing the environment
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With respect to changes and trends affecting marketing strategy planning, data mining can be classified under ____
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market research
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in which of the following types of economies will the forces of competition help speed the diffusion of marketing advances to consumers everywhere?
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market-directed economy
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one of the advantages of a market-directed economic system is that it:
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operates automatically
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by developing and implementing more effective marketing strategies, a marketing manager can:
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do all those.
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a difference between supplies and components is that:
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components become part of a finished product
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which is not a business product class?
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shopping products
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which of the following business products to be purchased by a firm is most likely to involve top management in the buying decision?
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installations
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a marketing manager for a firm which produces component parts should keep in mind that:
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the original equipment market and the aftermarket for component parts should be viewed as separate target markets
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products like toilet paper and razors are classified as:
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staples
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which type of products include those for which customers do not search at all?
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unsought products are those products that customers do not search for at all
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which of the following is true of consumer product classes?
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they are based on consumers think about and shop for products
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which is FALSE about warranties?
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manufacturers are requires to provide warranties by law
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The Magnuson-Moss Act requires that:
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a warranty must be clearly written, if one is offered
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which if FALSE about packaging?
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better packaging always raises total distribution costs
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which would NOT be favorable to branding?
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the fluctuation in product quality due to inevitable variations in raw materials
