MKT 327

What is the social process called that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society’s objectives?
Macro-Marketing
Which of the following is one of the results of marketing connections at the macro level?
A) Exchange
B) Personal Goals
C) Improved Quality of Life
D) Information.
Improved Quality of Life
Which of the following produces (as opposed to create) value primarily through production marketing, as opposed to marketing or innovation (select all that apply)?
Task
Time
Place
Form
Possession
Form & Task
Which of the following is NOT related to the purpose of marketing?
1. Identify the needs and wants of customers within markets
2. Create customer value
3. Make connections between companies and customers
4. Contribute to organizational success
5. Establish organization’s managerial structure
Establish organization’s managerial structure
Which of the following creates (as opposed to produce) value primarily through marketing (select all that apply)?
Task
Time
Place
Form
Possession
All of them (check this answer)
The essential function of marketing includes which of the following types of connections (select all that apply)?
Communal (connections in the network of a community)
Transactional
Psychological
Physical
Communal (connections in the network of a community)
Psychological
Physical
Marketing effectiveness is defined by which of the following statements?

1. What consumers perceive they gain from a product over and above its cost

2. The degree to which an organization’s activities produce results that matter to consumers

3. The degree to which activities are carried out without waste of time or money, and without any negative impact on satisfying customer needs and wants.

4. A fundamental psychological or physical requirement of human nature that motivates behavior

The degree to which an organization’s activities produce results that matter to consumers
Which of the following economic utilities involves having the product available where the customer wants it?

Task
Time
Form
Place
Possession

Place
Which of the following produces (as opposed to create) value primarily through marketing, as opposed to production (?select all that apply)

Task
Time
Form
Place
Possession

Time, place, possession
Which of the following economic utilities involves obtaining a good or service and having the right to use or consume it?
Task
Time
Form
Place
Possession
Possession
The marketing mix is to micro marketing as which of the following is to macro marketing.
A) organizations and customers
B) components of an industry.
C) universal marketing functions
D) social capital
C) universal marketing functions
All of the following statements are true with respect to macro marketing expect for which one?
A. It encourages specialization
B. It focuses on the flow of goods and services between economic sectors
C. It emphasizes the role and impact of individual organizations
D. It allow mass production and the reaching of economies of scale
C. It emphasizes the role and impact of individual organizations
Which of the following best defines the term ‘customer perceive value’, or just customer value?
A) Buyer’s benefits at a specified price
B) A cluster of benefits that an organization promises to its customers
C) The affordability and accessibilty of a specified product or service.
D) The main underlying motivating factor underlying a customer’s purchase decision
A) Buyer’s benefits at a specified price
Value in a marketing context is defined by which of the following statements?
A. What consumers perceive they gain from a product over and above its cost
B. The degree to which an organization’s activities produce results that matter to consumers
C. The degree to which activities are carried out without waste of time or money, and without any negative impact on satisfying customer needs and wants.
D. A fundamental psychological or physical requirement of human nature that motivates behavior
A. What consumers perceive they gain from a product over and above its cost
Which of the following statements defines micro-marketing (or managerial marketing)?
A) The activity for creating, communicating, delivering, and capturing the value from offerings that benefit the organization, its stakeholders, and society.
B) The trade of things of value between a buyer and a seller so that each is better off.
C) The idea that defines the role of marketing in an organizational, stating that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals.
D) Linking the organization to the individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
A)
The activity for creating, communicating, delivering, and capturing the value from offerings that benefit the organization, its stakeholders, and society.
One part of the statement defining the essence of marketing refers to the formation of community, connections, and relationships. Which of the following terms involves the marketing activities directed at achieving these objectives?
A) market creation.
B) market penetration.
C) commercialization.
D) relationship marketing.
A. Market Creation
Which of the following statements best defines the concept of macro marketing?

A. The social mechanism that fuels economic development and improved quality of life by connecting members of a society and sectors of an economy enabling specialization
B. The process by which organizations creates, communicates, delivers, and captures value in order to build strong relationships in order to create customers
C. The set of activities to establish and communicate one’s self image and personal assets in order to form and sustain relationships and achieve personal goals.
D. The creation of something new that has value to some constituency.

A. The social mechanism that fuels economic development and improved quality of life by connecting members of a society and sectors of an economy enabling specialization
Utility is a term that describes the want-satisfying potential of a good or service. What are the four fundamental types of utility?
form, place, time, ownership
Marketing performs its most essential role at three broad levels macro, micro, and personal. At the macro level marketing serves as which of the following?
A) social mechanism.
B) business function.
C) profit center.
D) strategic business unit.
A) social mechanism.
How does marketing perform its most essential role at the macro level?

A) Though the marketing mix.

B) Though the marketing concept.

C) Through specialization.

D) Through the universal marketing functions.

D) Through the universal marketing functions.
The essence of marketing has been stated to be the creation of community, connections, and relationships, and using them as a platform to discover customer needs and wants and to create, communicate, deliver, and capture value in order to create a customer. This statement can be divided up into ___ main areas of marketing responsibilities or managerial focus.
Two
Marketing with meaning is about improving customers’ lives through the marketing itself. True or false?
True
Which of the following statements defines a community? (select all that are correct)

A collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need.

A group of individuals or organizations with common purpose , linked perspectives or experiences, and physical or virtual proximity.

A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services.

A collection of individuals or organizations with a common need

A group of individuals or organizations with common purpose , linked perspectives or experiences, and physical or virtual proximity.
In the article, “What Marketing with Meaning Can Do For You” the definition of the term ‘meaning’ is synonymous with which of the following concepts?

brand ideals

shared consciousness

purpose

community

Brand ideals and purpose
Which of the following defines moral responsibility, one of the underlying components of a community?

The factor that motivates community member’s allegiance to that community and their behavior within it.

The community member’s affiliation or sense of belonging to the community

The artifacts or communal actions that embed meanings into the community

The community member’s sense of duty or the community’s behavioral norms

The community member’s sense of duty or the community’s behavioral norms
One part of the statement defining the essence of marketing refers to the formation of community, connections, and relationships. Which of the following terms involves the marketing activities directed at achieving these objectives?

A) market creation.

B) market penetration.

C) commercialization.

D) relationship marketing.

A) market creation.
Marketing with meaning is
about improving customers’ lives through innovation and the functional effectiveness of the product or service provided. True or false?
False
A community-centric marketing strategy tends to increase all of the following except for which one?

costs

authenticity

innovation

growth

costs
Marketing with meaning is about turning strangers into friends and friends into customers. True or false?
False
A community-centric marketing strategy is most effective in which of the following situations

High market Growth

Limited competition

Low profit margins

Economic or industry downturn

Economic or industry downturn
Which of the following defines identity, one of the underlying components of a community?

The factor that motivates community member’s allegiance to that community and their behavior within it.

The community member’s affiliation or sense of belonging to the community

The artifacts or communal actions that embed meanings into the community

The community member’s sense of duty or the community’s behavioral norms

The community member’s affiliation or sense of belonging to the community
Which of the following statements defines a market? (select all that are correct)

A collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need.

A group of individuals or organizations with common purpose , linked perspectives or experiences, and physical or virtual proximity.

A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services.

A collection of individuals or organizations with a common need

A collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need.

A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services.

What is a place where a company might have room to maneuver in a crowded playing field?
White space
All of the managerial marketing tasks below are part of the market creation activities except for which one?

Creating Physical connections

delivering value

Discovering needs and wants

Creating Community

delivering value
A product that delivers tangible and emotional value is in essence delivering ___
Meaning
A higher purpose that appeals to a universal human value and governs everything an
organization does defines which of the following?
Brand Ideal
The collective common beliefs, perspectives, and identity held by members of community with respect to some purpose or cause, or object or brand defines the term __
shared consciousness
Which of the following refers to a group of individuals, groups, or organizations that are integrated within a dynamic network of environmental cause and effect activities that share purpose and proximity?

A)
connections.

B)
community.

C)
channels.

D)
markets.

B. Community
Which of the following defines purpose, one of the underlying components of a community?

The factor that motivates community member’s allegiance to that community and their behavior within it.

The community member’s affiliation or sense of belonging to the community

The artifacts or communal actions that embed meanings into the community

The community member’s sense of duty or the community’s behavioral norms

The factor that motivates community member’s allegiance to that community and their behavior within it.
A community-centric marketing strategy tends to increase which of the following factors?
costs
competiton
innovation
company entrenchment
Innovation
The monetary amount of a product or service reflecting its perceived value and enabling organization to achieve financial goals.
Price
The extent to which consumers attach or associate some psychological meaning to a product or service.
Symbolic
The extent to which a product or service creates appropriate experiences, feelings, or emotions for a buyer.
Experiential
A want-satisfying value that is created when knowledge and materials are converted into a finished product capable of performing some desired function.
Form
Setting the objectives for communicating value and creating the messages and formants for achieving them.
Promotion
A want-satisfying value that is created by making it possible to transfer title of goods or services from one party to another; or transfer authorization for usage from one party to another.
Ownership
A want-satisfying value that is created when a product or service is made available when it is wanted
Time
Any physical object, service, idea, person, event, place, or organization offered to satisfy consumers’ needs and wants.
Product
Which of the following is NOT a want?
shelter
a Big Mac
Goldfish crackers
Pantene shampoo
an iPhone 6
Shelter
A ____ is what consumers perceive they gain from owing or using a product or service over and above the cost of acquiring it.
value, customer value
The ownership utility is different from the cost/sacrifice utility or value. True or false?
True
Which of the following would be required for wants to become demands (or a market)?

person has desire to satisfy want

person has access to product or service

person can afford product or service

all of these components are required

all of these components are required
There are two critical tasks associated with the essence of marketing: market creation (formaing connections) and market penetration (capturing value). True or false?
True
Which of the following is an element of the customer retention process as opposed to the customer acquisition process?
loyalty
want
value
relationship or relational exchange
loyalty and relationship or relational exchange
Which of the following elements are part of the customer acquisition process as opposed to the customer retention process?

satisfaction

loyalty

demand

relationship

Demand
The marketing mix needs to be blended when a company develops a marketing program. Which of the following is NOT an element of the marketing mix?
price
product
place
position
promotion
Position
A___is a set of activities that an organization carries out to create value for its customers.
value chain
According to text, ideas, goods and services are exchanged in which of the following markets?
consumer markets
business-to-consumer (B2C) markets and business-to-business (B2B) markets
non-profit markets
internal markets
all of the answers are correct
all of the answers are correct
What are the six key forces important in creating and capturing value?
relationships, sustainability, technology and E-commerce, global, diversity and ethics
The marketing mix consists of four elements, commonly referred to as the “Four P’s” They are:
product, price, promotion and place.
The development and maintenance of successful relational exchanges through interactive, ongoing, two-way connections amoung customers, organizations, suppliers and other parties for mutual benefit is called:
relationship marketing
The philosophy of customer orientation focuses on which of the following?
satisfying customer needs and wants
A want is a specific form of consumption that satisfies what?
a need
Marketing tries to satisfy needs and wants. A need is which of the following?
a fundamental requirement
The creation of value through innovation and the marketing mix helps marketing form connections at which level?
Micro
Which of the following best defines (managerial) marketing?

an organizational philosophy that focuses on satisfying consumer needs and wants

advertising, point-of-purchase displays and personal selling

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large

the business environment of serving customers to meet their needs through vision, planning and delivering

situational analysis, targeting marketing, positioning and marketing mix decisions

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large
Sustainable competitive advantage refers to a strategy that:
competitors cannot easily duplicate or surpass.
Non-profit organizations tend to have stronger selling propositions than business organizations, because their constituents having greater involvement with organization’s respective cause. True or false?
False
Not-for-profit organizations are required to keep financial records that can be easily understood, audited, and tracked. This is referred to as ___
Transparency
The personal capabilities of a person which are characterized by relationships with other people, or which are about how person approaches life and work is referred to as a ___
soft skills
The term ___ refers the ability of a person to recognize and manage their own and others’ emotions.
emotional intelligence
Campaigns to combat drunk driving, drugs and domestic violence are:
cause marketing
Which of the following terms refers to the ability of the company to provide products that satisfy customer needs and wants?
Being on code
Which of the following terms refers to the extent the company and its actions are consistent with environmental conditions expected in the future?
Being able to compete
In the knowledge generation process knowledge directly results in
query
Which of the following parts of a marketing information system primarily deals with internal data?
Knowledge management
Which of the following is a data or information requirement for understanding stakeholders?
Intermediaries
Assessing a factor’s impact and understanding the forces driving its expected changes are associated with the first step in a S.W.O.T. analysis. True or false?
True
Assessing a factor’s impact and understanding the forces driving its expected changes are associated with the first step in an environmental scan. True or false?
False
Determining the extent to which an organization’s capabilities will enable it to operate successfully in the market environment it will face is the purpose of which of the following analyses procedures?
SWOT analysis
The choice framework model plays a role in which stage of the customer decision making process?
alternatives evaluation
The ___ conflict occurs when a consumer desires two objectives but cannot have both.
approach-approach
A product life cycle provides guidelines for a skeleton tactical marketing plan. True of false?
True
A company has assessed through its information foundation analyses that buyers of its very frequently purchased product planned moderately before their purchase of their product and makes several comparisons over time. The company should classify this product as a(n)___product.
staple
The final stage in the new-product development process, when the product is introduced into the market is called
commercialization
If a marketing manager wanted to increase the percentage of its target market taking the action of purchasing, which of the following communication mix should receive the majority of funding?
Personal selling
Product liabilities and warranties are alternative courses of action for which of the basic product management decisions?
Customer service
The evaluation of alternatives for services is based more on surrogate cues the higher the credence. True or false?
True
Purpose driven branding is important in terms of creating community as a platform for sales. True or false?
False
A good ad should:
reach the target audience.
be creative.
be understandable.
be memorable.
All of these answers are correct.
All of these answers are correct.
Reaching the consumer requires the ad to possess:
Exposure and stopping power.
A unique aspect of personal selling relative to other promotional mix elements (not including social media) is ___ communication
two-way
What type of sales occurs when the salesperson meets at the customer?s (buyer?s) place of business?
Field selling
Discount, service and hybrid are three:
strategies related to service levels and pricing.
Digital Direct Marketing is a synonomous term for online marketing? True or false?
False
Which types of costs are most relevant for pricing decisions?
Incremental
Intel differentiates its products through outstanding innovation and R&D. It uses the ________________________ strategy.
Product leadership
In its early years, the company grew steadily as a result of its heavy investment in marketing communications. True or false?
False
A company’s long-term plan for using resources to pursue goals and objectives in competitive arenas is called:
strategy
Which of the following is an analysis process that is part of a marketing plan’s information foundation as opposed to a strategic framing decision?
A)
Buyer Behavior

B)
Positioning

C)
Segmentation Analysis

D)
Product Classification

a) Buyer behavior
Which of the following elements of a typical marketing information system tends to deal with the analysis and presentation of information as opposed to the collection and analysis of information?

A)
knowledge management.

B)
marketing research.

C)
marketing or competitive intelligence.

D)
Decision support systems.

D) Decision Support Systems
Marketing performs its most essential role at three broad levels macro, micro, and personal. At the macro level marketing serves as which of the following?

A)
social mechanism.

B)
business function.

C)
profit center.

D)
strategic business unit.

A) Social mechanism
Which of the following statement defines a tactical implementation plan?

A writen document describing company marketing objectives and how to broadly achieve them in light of competitive activities.

statement of an organizational operating philosophy

A written document for a SBU providing guidelines for achieving desired strategic position and creating customers.

a short-term plan for actions and reactions to specific market conditions for how each part of the controllable marketing variables will be used to achieve the stategic marketing plan goals

a short-term plan for actions and reactions to specific market conditions for how each part of the controllable marketing variables will be used to achieve the stategic marketing plan goals
Which of the following is NOT a step of the marketing strategy process?
target marketing
licensing
situational analysis
marketing mix decisions
positioning
licensing
Which of the following is NOT an element of a marketing plan?

situation analysis

positioning

target marketing

integrating the marketing mix

manufacturing

manufacturing
Sectors of society are to macro marketing as which of the following is to micro marketing.
A)
organizations and customers

B)
components of an industry.

C)
individuals

D)
departments within an organization.

A) organizations and customers
Which of the following refers to a group of individuals, groups, or organizations that are integrated within a dynamic network of environmental cause and effect activities that share purpose and proximity?

A)
connections.

B)
community.

C)
channels.

D)
markets.

community.
Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for potential customers and the market at large?

situation analysis

target market analysis

S.W.O.T. analysis

competitor analysis

marketing audit

target market analysis
A management information system is the process of defining a marketing problem and/or opportunity, then systematically collecting and analyzing information, and recommending actions. True or false?
False
Selling products and generating a profit is the essence of marketing. True or false?
False
How does marketing perform its most essential role at the macro level?

A)
Though the marketing mix.

B)
Though the marketing concept.

C)
Through specialization.

D)
Through the universal marketing functions.

D) Through the universal marketing functions.
Which of the following is correct with regards to needs and wants?

A)
Wants produce needs.

B)
Demand produces wants and needs.

C)
Wants satisfy needs.

D)
None of the above.

C) Wants satisfy needs.
Which of the following terms refers to the ability of the company to provide products that satisfy customer needs and wants?
being on course
having correct content
being able to compete
being on code
being customer oriented
Being on code
Profiling and naming a group of consumers with similar demographic and psychographic characteristics is the _________ step in an _______________ analysis.

A)
1st; Buyer Behavior

B)
3rd; Target Market

C)
2nd; Segmentation

D)
4th; Buyer Behavior

C) 2nd; Segmentation
Satisfaction is exclusively a function of the product’s performance and quality. True or false?
False
Which of the following best defines the term ‘customer perceive value’, or just customer value?

A)
Buyer’s benefits at a specified price

B)
A cluster of benefits that an organization promises to its customers

C)
The affordability and accessibilty of a specified product or service.

D)
The main underlying motivating factor underlying a customer’s purchase decision

A) Buyer’s benefits at a specified price
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges defines which of the following?

A)
a marketing orientation.

B)
marketing management

C)
Satisfaction.

D)
marketing effectiveness.

B) marketing management
Which of the following actitives is associated with the strategic framework stage of the marketing planning process?
positioning
S.W.O.T.
target market analysis
marketing mix plan
marketing control process
positioning
Which of the analysis procedures below that are part of the marketing information foundation provide insights for whether organization is on course?(select all answers that apply)
situation analysis
target market analysis
S.W.O.T. analysis
competitor analysis
marketing audit
situation analysis
SWOT Analysis
Which of the following steps in a strategic marketing plan is part of the information foundation?

Positioning

Pricing Plan

Control Process

S.W.O.T. Analysis

S.W.O.T. Analysis
All of the managerial marketing tasks below are part of the market creation activities except for which one?

Creating Physical connections

delivering value

Discovering needs and wants

Creating Community

delivering value
In most cases the Target Market Analysis process should end (its last step) with which of the following?

A)
Segmentation Analysis

B)
Psychographic factors

C)
Positioning

D)
Consumer Analysis

A) Segmentation Analysis
Measurable, substantial, and accessible are informational items for the first step in a segmentation analysis?

A) True B) False

False
A company is aggresively marketing a shopping product (could be homogeneous or heterogeneous). Which of the following should be the focus of its ‘skeleton plan’ in terms of promotional efforts?

A)
Awareness

B)
Trial

C)
Differentiation

D)
Uniqueness

C) Differentiation
Which of the following decisions considers trade shows, display booths, and contests?
Sales Promotion
Personal Selling
Advertising
Public Relations
Sales Promotion
Which alternative below is a true statement regarding positioning, segmentation, and integrated marketing communications?

A)
These decisions are tactical in nature

B)
These are strategic framing decisions

C)
Alternatives A and B are both correct

D)
Alternatives A and B are both incorrect

B) These are strategic framing decisions
Because it is difficult to successfully appeal to all market segments, companies often select certain segments for emphasis, this process is called which of the following terms?
Positioning
Focusing
Target marketing
Sales maximization
Target marketing
Which of the following statements best defines a general marketing strategy?

A guiding framework for developing a skeleton marketing plan that identifies which aspect of demand the firm should focus on

how a firm will allocate Its resources to protect its weaknesses and/or exploit its strengths

a ‘bare bones’ outline of the tactical portion of a detailed marketing plan.

the number of people with the desire to satisfy a discovered need with particular want; and who also have the ability to satisfy that want.

A guiding framework for developing a skeleton marketing plan that identifies which aspect of demand the firm should focus on
All of the following are true regarding how Product Classification and Life Cycle help marketers except for which one?
They provide blueprints for marketing strategies
They provide the key mechanisms for creating value.
They help improve marketing efficiency
They help define tactical actions for various situations
They help improve marketing efficiency
Which of the following best describes what product classification is?
defines how consumers purchase products and how they use those products.
defines the role product oriented decisions play in the overall marketing strategy.
defines the assets linked with the brand name and symbol of a product.
None of the above
defines how consumers purchase products and how they use those products.
The purpose of Advertising is:
Inform consumers with messages that provide information for later use.
Persuade by changing consumers attitudes and opinions.
Remind consumers about products.
Reinforce to encourage repeat purchasing.
All of these answers are correct.
All are correct
All of the following are true regarding how product classifications help marketers except for which of the following?

A)
They provide blueprints for marketing mix strategies.

B)
They provide tactical guidelines for creating value.

C)
They help improve marketing efficiency.

D)
They help define tactical actions for various situations.

C) They help improve marketing efficiency.
Which of the following is one of the alternative positioning strategies?

A)
Undifferentiated

B)
Demand Focus

C)
Increase Ability to buy

D)
Nicher Strategy

B) Demand Focus
A shopping product is in the introduction stage of the life cycle and consumers are at the awareness stage. Which communication objective is usually most appropriate for this situation?

A)
Persuade

B)
Inform/Educate

C)
Differentiate

D)
Reinforce/Stabilize

B)
Inform/Educate
Which of the following characteristics best defines the difference between marketing intelligence and marketing research?
Marketing intelligence depends on internal data
Marketing research depends on external data
Marketing research is primarily from secondary data
Marketing intelligence continually collects information
Marketing intelligence continually collects information
Which of the following is true of a General Marketing Strategy
it frames who will be targeted
it frames the needs, wants and meanings to be marketed
it frames the marketing mix actions to achieve desired position
it frames the marketing mix actions to defend desired position
it frames the marketing mix actions to achieve desired position
Which of the following stages in the product life cycle involves building the brand name, adding distributors and creating product extensions and options?
Introduction
Growth
Maturity
Decline
None of these answers are correct
Growth
The assets linked to a brand name and the symbol that adds value to the product refers to which of the following?
Brand Equity
Brand Warranty
Brand Association
None of the Above
Brand Equity
All of the following are true regarding how Product Classification and Life Cycle help marketers except for which one?
They provide blueprints for marketing strategies
They provide the key mechanisms for creating value.
They help improve marketing efficiency
They help define tactical actions for various situations
They help improve marketing efficiency
Which of the following is a role of pricing over and beyond the recovering of costs associated with a product or service?
Establish Value
Become a Competitive Advantage
Achieve Positioning
All of the above are pricing roles
All of the above are pricing roles
Which of the following would not be part of the total price concept?
Money
Contractual Terms
Effort
Time Spent
Contractual Terms
A shopping product is in the introduction stage of the life cycle and consumers are at the awareness stage of the AIDA model, therefore which communication objective is usually most appropriate for this situation?
Persuade
Provide Information
Differentiate
Reinforce/Stabilize
Provide Information
___ is what happens when a company attempts to capture each of its targeting segments with a unique marketing strategy.
Differentiation
Determining whether objectives are met or not would occur in which stage of the Integrated Marketing Concept Plan?
Select Target Market
Select Communication Mix
Develop Budget
Measure Results
Measure results
Gaining awareness for the product and establishing distribution should be the focus of a firm’s marketing strategy in which stage of the life cycle?
Introduction
Growth
Maturity
Decline
Introduction
Which of the following statements best defines the concept of demand management?

Selecting which aspect of demand (the number of buyers, there desire to buy, their physical ability to buy, or their financial ability to buy) the firm should focus on.

how a firm will allocate Its resources to protect its weaknesses and/or exploit its strengths

a �bare bones� outline of the tactical portion of a detailed marketing plan.

the number of people with the desire to satisfy a discovered need with particular want; and who also have the ability to satisfy that want.

Selecting which aspect of demand (the number of buyers, there desire to buy, their physical ability to buy, or their financial ability to buy) the firm should focus on.
Which of the following is not considered a classification of consumer products?
operating
unsought
emergency
convenience
specialty
operating