a) defines its mission in terms of the benefits its customers seek.
b) targets the average customer.
c) is highly centralized.
d) defines its business in terms of the goods and services it produces.
a) micromanagement strategies.
b) anticompetitive strategies.
c) centralization of the firm.
d) delegating authority to employees.
a) promotional strategies.
b) building long-term customer relationships.
c) pricing strategies.
d) personal selling and direct selling activities.
a) It involves targeting the average customer or everybody.
b) It involves establishing and tracking customer interactions with the company.
c) It considers all customers of the firm as one large group that should be targeted with a single promotional strategy.
d) It is used by sales-oriented firms to convince customers to buy their products.
a) focus on the internal rather than the external business environment.
b) rely on aggressive sales strategies.
c) be highly centralized.
d) encourage teamwork among employees.
a) “What are the product preferences of our customers?”
b) “How can we sell our products more aggressively?”
c) “What can our engineers design?”
d) “How can we gather more information about customer needs?”
a) a competitive weapon for companies.
b) decided after the promotion strategies are finalized.
c) the starting point of the marketing mix.
d) the least flexible element of the marketing mix.
a) ensuring the participation of top management.
b) ensuring that decision-making is centralized.
c) making strategic planning an annual exercise.
d) avoiding cross-functional teams.
a) Market development
b) Cost leadership
c) Product differentiation
d) Market penetration
a) It requires firms to focus on the internal rather than the external business environment.
b) It gives maximum emphasis to aggressive personal selling strategies.
c) It is aimed at enhancing customer relationships.
d) It is used by sales-oriented firms.