Chapter 8 & 18

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