During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.
Which of the following statements is most consistent with today's views on effective marketing?
|A)||"There's a sucker born every minute."|
|B)||"Find out what your competition does and do it better."|
|C)||"A good promotional campaign can sell anything."|
|D)||"Learn about your customers and exceed their expectations|
While the four Ps help us remember the basics components of the __________, they don't have significant relevance in the marketing process.
|C)||product development process|
|D)||competitive benchmarking process|
As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following?
|A)||setting a price for the light fixtures her firm produces|
|B)||deciding the best way to hire new employees to produce the lights|
|C)||developing ideas for new ways to produce the lights|
|D)||determining the best way to finance the purchase of new production equipment|
Andre is a real estate agent who has an idea for a software program that will help perform real estate appraisals more quickly and more accurately. He has worked with a buddy who is good at programming to develop a detailed description of what the software will do and how it differs from existing applications. Now Andre has taken this description and shown it to a number of fellow real estate agents to see if his idea appeals to them. Andre is engaging in:
Successful marketing researchers:
|A)||focus their efforts on determining historical needs of customers, since the core value of marketing is that the customer needs don't change.|
|B)||develop as much information as possible from primary sources.|
|C)||listen to customers and other stakeholders.|
|D)||rely on their experience and personal opinions when making decisions.|
Roosevelt Community College has experienced declining enrollment for the past three years. In the past the college has relied strictly on enrollment from newly graduated high school students. In order to identify other potential markets, Roosevelt Community College would benefit from:
|D)||a stakeholder audit.|
The most important technological change likely to affect the marketing success of many firms is the:
|A)||growth of consumer databases, blogs, and social networking.|
|B)||speed of service from faster check-outs.|
|C)||level of computer literacy of the target market.|
|D)||number of computers in use in the home.|
A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests.
Holly is a sophomore in college considering a degree in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Holly?
|A)||Marketing offers business students a wide array of career options.|
|B)||Majoring in marketing rules out a meaningful career with a nonprofit organization.|
|C)||You should major in marketing only if you want to work in advertising or personal selling.|
|D)||Marketing is a career that offers stability, good pay and ample employment opportunities. Marketing activities today are essentially the same as they were several decades ago.|