Principles of Marketing – Lesson 1 – Flashcards
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defines its mission in terms of the benefits its customers seek.
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A market-oriented firm
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ensuring the participation of top management
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Companies can make strategic planning more effective by
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"What can our engineers design?"
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Of the following questions that companies consider, which best aligns with the production orientation philosophy?
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avoiding marginal customers.
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Cost competitive advantage can be achieved by
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encourage teamwork among employees.
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A firm that extensively uses relationship-marketing strategies is most likely to
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It involves establishing and tracking customer interactions with the company.
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Which of the following statements is true of customer relationship management?
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distribution strategies
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A marketing mix typically involves
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customer wants can be satisfied by integrating the firm's activities.
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Companies that rely on the marketing concept and have implemented a market orientation strategy recognize that
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a competitive weapon for companies.
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The price component of a marketing mix is
