Marketing Study Set 20

Business

Quiz 1 :

Why Marketing Matters to You

Quiz 1 :

Why Marketing Matters to You

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Logistics is the process of coordinating the flow of money among members of the supply chain.
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False

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Firms that use social media for promotion try to create content that attracts attention and encourages readers to share the content with their social networks.
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True

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The marketing concept is a strategy that utilizes all aspects of marketing in order to satisfy customer needs.
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True

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In order to measure the value customers receive from a product, marketers need only look at the actual monetary outlay the customer must produce in order to obtain the product.
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The place element of the marketing mix involves the activities a firm undertakes to make its product available to potential customers.
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Promotion is typically the easiest marketing mix element to change.
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Marketing refers to advertising and selling a product.
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The marketing concept strategy was short lived, giving way to what is the dominant strategy in today's marketplace, that of sales orientation.
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The interconnected nature of the world economy is referred to as internationalization.
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Regardless of market conditions, most new products introduced in the marketplace are successful.
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Marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships.
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Janie is looking to open a cupcake shop. She wants to make sure her shop is successful, so she hires a consultant to help her determine the best location for her new business. In this example, the information given to Janie by the consultant is considered a product.
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NAFTA has had a negative impact on U.S. farmers because of the restrictions it imposes on exports, which has made trade between countries more difficult for the farmers.
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Platforms like Facebook and Twitter are changing how firms interact with customers to better meet the needs of the marketplace.
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The sales orientation strategy is characterized by a customer orientation that focuses on customer satisfaction.
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The production era continued until consumer demand could not keep up with the growth in production and new strategies were needed to maximize success.
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In a marketing sense, there is really no difference between a need and a want.
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The marketing concept is also referred to as the four Ps of marketing.
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When it comes to marketing products and services, marketers do not need to be concerned with any ethical implications of their actions because the consumer bears the ultimate responsibility to determine whether or not a product is needed.
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The question, "How much inventory should I have?" directly relates to the place element of the marketing mix.
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Showing 1 - 20 of 150