Marketing Chapter 21 – Baleja – Flashcards
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When evaluating the effectiveness of the macro-marketing systems of different countries:
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it doesn't make sense to try to compare the effectiveness of systems for different nations that have different objectives.
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The basic objective of the U.S. market-directed economic system is to:
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satisfy consumer needs as the consumers themselves see them.
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Consumer satisfaction:
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depends on one's own expectations and aspirations.
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Which of the following statements about marketing does the text make?
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Macro-marketing does not cost too much
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According to the text:
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micro-marketing often does cost too much.
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Micro-marketing may cost too much because:
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-firms fail to identify new target markets. -prices are frequently set on a cost-plus basis. -promotion is sometimes seen as a substitute for product quality.
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Which of the following is NOT an explanation for why MICRO-marketing may cost too much in some fir
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Marketing managers do target marketing.
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Most critics of marketing who argue that marketing managers help create monopoly or monopolistic competition feel this leads to:
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-restriction of output. -higher prices. -reduction in the national income.
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When companies in a market-directed economy try to find "little monopolies" for themselves,
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success is likely to attract more competitors—and squeezing of the innovators' profits.
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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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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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Regarding the challenges facing marketers, the text suggests that:
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marketers should look for ways to improve a strategy even before there's reason to believe that something needs to be fixed.
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Which of the following is not a current trend affecting marketing strategy planning?
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less use of single source data and scanner panels.
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The future poses many challenges for marketing managers because:
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new technologies are making it easier to abuse consumers' rights to privacy.
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Better performance of our market-directed MACRO-marketing system may require:
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more consumer responsibility.
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By developing and implementing more effective marketing strategies, a marketing manager can:
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-mprove the profits of a firm. -provide more consumer satisfaction. -reduce the costs of wasted effort by a firm. -contribute to the effectiveness of the MACRO-marketing system.
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Developing a "marketing plan:"
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E) None of the above is a true statement.
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The main difference between a "strategy" and a "marketing plan" is
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that time-related details are included in a plan.
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A S.W.O.T. analysis
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identifies a firm's "strengths, weaknesses, opportunities, and threats."
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When developing a marketing plan for a new product that is about to enter the market introduction stage of its product life cycle, a marketing manager should:
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plan to change the marketing strategy as the product moves through its life cycle
