1. Good marketing is no accident, but a result of careful planning and
2. Marketing is both an “art” and a “science” because there is constant tension between the formulated side of marketing and the ________ side.
3. A social definition of marketing says ________.
a) effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
b) a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company’s products
c) marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
d) marketing is the process of extracting the maximum value from consumers to facilitate corporate growth
e) marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer
4. Marketing management is
a) the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
b) developing marketing strategies to move the company forward.
c) monitoring the profitability of the companies products and services.
d) a set of processes for creating, communicating, and delivering value to customers.
e) identifying and meeting human and social needs.
5. ________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
b) Marketing management
6. When IKEA noticed that people wanted good furniture at a substantially lower price and created knockdown furniture, they demonstrated marketing savvy and turned a private or social need into a(n)
a) customer want.
b) profitable business opportunity.
c) market need.
e) product development.
7. As economies advance, a growing proportion of their activities focuses on the production of ________.
8. ________ actively work to build a strong, favourable, and unique image in the minds of their target publics.
b) Shopping goods
d) Durable goods
9. The Delhi Zoo represents ________ marketing: customers view animals in their natural habitats.
10. ________ goods constitute the bulk of most countries’ production and marketing efforts.