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A Marketing Strategy

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specifies a target market and the marketing mix the firm will offer to provide that target market with superior customer value

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Effective marketing should begin with

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potential customer needs and not with the production process.

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Marketing

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applies to both profit and non profit

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For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

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A part of marketing

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Societies need a macro-marketing system

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to help match supply and demand

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From the perspective of macro-marketing, e-commerce specialists CarFax (which provides vehicle history reports) and Cars.com (a website offering auto comparison shopping) have emerged within the auto industry because:

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From the perspective of macro-marketing, specialists such as e-commerce businesses develop when there are opportunities to make exchanges between producers and consumers more efficient or effective.

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The standardization and grading function of marketing involves:

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sorting products according to size and quality.

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Concerning the "universal functions of marketing," it is true that:

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these functions must be performed in all MACRO-marketing systems

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Discrepancies of assortment happen when

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producers specialize in producing a narrow assortment of goods and services, but consumers need a broad assortment.

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The fact that producers usually prefer to produce products in large quantities, while most consumers prefer to buy in small quantities, results in

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Discrepancies of quantity

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When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer, this is an example of

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In separation in values, producers value goods and services in terms of costs and competitive prices while consumers value them in terms of satisfying needs and their ability to pay.

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Which of the following is LEAST likely to be classified as a marketing collaborator?

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Quality coating company

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An economic system in which government planners determine production levels is known as

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Command Economy

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In a command economy:

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Consumers usually have some freedom of choice

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Consumers in a market-directed economy

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are taxed to provide for goods and services that benefit society, such as public health, national defense, highways, police and fire protection.

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The various economic systems around the world are:

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Depends largely on the nature of the society's political institutions.

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Which of the following statements about economic systems is NOT true?

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Producers always make a profit in a market-directed system

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During the sales Era

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Advanced production capabilities led to sales era when a company emphasizes selling to win customers because of increased competition.

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Myra Martinez was just named Treasure Island, Inc.'s "marketing manager"—with responsibilities for short-run policy planning of the firm's advertising, sales, marketing research, purchasing, and distribution efforts. Apparently, Treasure Island is operating in the ______________ era.

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marketing department

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SouthFace Corporation just named Chloe Perry to a marketing management position. One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning. SouthFace Corp. is probably operating in the ______________ era.

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marketing company

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Regarding the five stages in marketing evolution,

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In the five stages in marketing evolution, the marketing department era makes short-run planning only; the first era to evolve was the simple trade era; and the marketing company era makes both short-run and long-run planning.

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Compared with other approaches to business, the marketing concept is distinct in that it:

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distinct from other approaches to business in that it views organizations as existing to serve customers and the needs of society. Firms that apply the marketing concept direct all their efforts at satisfying customers.

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A production-oriented firm typically ______.

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tries to sell the products it can make easily.

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MetroTech Corporation has been experiencing declining profits. The accounting department blames the MetroTech marketing staff for "out of control" sales costs. The salespeople blame the warehouse for being slow to fill orders. And the warehouse manager says that the production department can't meet its schedule. MetroTech seems to have ______.

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a production orientation

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A firm with a marketing orientation:

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tries to determine customers` needs before developing its product.

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The owner of The Rascal's Bar & Grill does long-range planning and the whole company is guided by the marketing concept, the Rascal's appears to be operating in the ______era.

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Marketing company

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Which of the following is a basic idea of the marketing concept?

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customer satisfaction, total company effort, profit.

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From a micro view, marketing

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is a set of activities performed by an individual organization to satisfy its customers.

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The following headlines are for articles from the WALL STREET JOURNAL. Which article is most likely to be reporting a MACRO-marketing topic?

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DVD Popularity Leads to More DVD Retailers.`

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When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer, we say there is a

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separation in values

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Which of the following is the BEST example of management thinking during the "production era"

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If we produce a good product, customers will find us and buy it.

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Regarding the five stages in marketing evolution

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A. Many firms have graduated to the marketing company era. B. For most firms, the sales era continued until at least 1950. C. In the marketing department era, firms began to do short-run planning. D. The simple trade era was the first era to evolve. E. All of the above are true.

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Regarding the five stages in marketing evolution,

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A. in the marketing department era, firms do both short-run and long-run planning. B. the first era to evolve was the sales era. C. in the marketing company era, firms do short-run planning only. D. most firms operate in the production era. E. None of the above is true.

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The marketing concept says that a business firm should aim all of its efforts at ______.

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satisfying customers-at a profit

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Adoption of the marketing concept

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has been slow for producers of industrial commodities.

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Which of the following is the best example of the marketing concept in action

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A cleaning supplies firm learns that many consumers are having trouble hiring maids--so it develops a plan to offer customers complete house cleaning services.

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Which of the following statements about customer value is true?

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Customer value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits.

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In order to build relationships with customer value, firms must do all of the following except

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brief their advertising people to develop ads that try to convince a customer to buy once.

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Which of the following is an example of the micro-macro dilemma

answer

Children like to ride bicycles, but accidents are common.

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Which of the following is the BEST example of the micro-macro dilemma

answer

High performance cars are fun to drive but may be dangerous to others.

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

answer

Some people like to eat a lot, but later feel guilty about eating too much.

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Which of the following statements is True regarding social responsibility and marketing ethics?

answer

Being socially responsible can conflict with a firm`s profit objective, and Being socially responsible can lead to a positive response from customers.

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Macro-marketing examines all the following challenging scenarios except

answer

how the whole marketing system works. It does not pertain to the individual marketing plans and challenges of individual organizations.

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In a firm operating as a total "system" to implement the marketing concept ______.

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The whole company is customer-oriented

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The difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits is called?

answer

Customer Value

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Which of the following is true about a firm practicing the marketing concept?

answer

Analyze the need of consumers and satisfy needs better than competition

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Trying to balance the interests of people who want to consume alcoholic drinks and the dangers of drunk driving is an example of ______.

answer

Micro-Macro Dilemma

question

Marketing

answer

provides direction for production

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