Marketing-2006 SLC – Flashcards
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A marketing mix consists of 3 variables: product, price, and distribution.
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FALSE
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In marketing, a product can be good or a service but not an idea.
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FALSE
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A target market is a specific group of customers on whom an organization focuses its marketing efforts.
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TRUE
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Marketing efforts do not involve the design and development of products.
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FALSE
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Services are provided by applying human and mechanical efforts to people or objects.
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TRUE
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The marketing concept stresses that a business organization can best achieve its goals by providing customer satisfaction through coordinated activities.
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TRUE
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Value=customer costs-customer benefits
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FALSE
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Achievement of the firms overall goal is part of the marketing concept.
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TRUE
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Relationship marketing is a short-term, mutually beneficial arrangement in which a buyer and seller focus on the creation of satisfying exchanges.
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FALSE
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To effectively monitor changes in the marketing environment, marketers must engage in ______________
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Environmental scanning and analysis
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