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Concept explainers
1) Which of the following is most essential to any definition of marketing?
A) demand management
B) the production concept
C) customer relationships
D) making a sale
2) All of the following are accurate descriptions of modern marketing today, EXCEPT which one?
A) Marketing is the creation of value for customers.
B) Marketing is managing profitable customer relationships.
C) Selling and advertising are synonymous with marketing.
D) Marketing involves satisfying customers' needs.
3) According to management guru Peter Drucker, "The aim of marketing is to ________."
A) create customer demands
B) identify customer demands
C) make selling unnecessary
D) set realistic customer expectations
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- Exciting new opportunities have presented themselves to you in the form of a consultant position with a big beverage producer. Be sure that your marketing strategy contains a discussion and explanation of the actions that may be performed to boost the company's online visibility, and that this information is included in the plan. Additionally, ensure that the discussion and explanation are part of your marketing strategy. Before going live with the website, you should be certain that each page has been subjected to extensive testing.arrow_forward1. What trends in product variations/choices have you seen recently in marketing? provide one example. 2. How do you think companies want their customers to perceive their brand’s value or product design, and which method of promotion is well received by the general public? 3. Do they cater to a wide range of population in their target market? Explainarrow_forwardExplain the following characteristics of business buyers: a. Buying Centers b. Evaluative Criteria c. Buying Situations d. Business Ethics e. Customer Servicearrow_forward
- Direct Marketing Effects Today Is direct marketing effective in the today’s marketplace? Why or why not? What about interactive marketing? Which form of marketing would you pursue for the launch of a modified or new high-technology product or service? Why? The Internet has revolutionized the way people do business Some of the more important breakthroughs in this type of marketing are speed of communication, access to information, and availability of endless choices What are some of the benefits and challenges organizations face when using Internet technology in marketing in the future?arrow_forwardDefine the characteristics of marketing orientation from a consumer perspective. (does not have to be an essay just a couple of sentences)arrow_forwardCompare and contrast the four Ps approach to marketing versus the value approach (creating, communicating, and delivering value)arrow_forward
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- Search the internet. Choose news, an incident, a trend, or an interesting event of the day.Also, choose a company of your choice. Considering the news gives a real-time marketing idea to the selected company.It can be Memes,Newsjacking, or real-time advertising.arrow_forwardAs future marketers it is fair to say that you must believe that in order for a company to be successful it must achieve a “totally integrated marketing organization” with virtually the entire company on board. Elaborate upon this concept and offer some methods that will help a company arrive at this integrated marketing stage of development.arrow_forwardwhich of the following is closest to reality 1) Both relationship and transactional marketing are optimal in the short run 2) Transaction marketing is optimal in the short run, while relationship marketing is optimal in the long run 3) Transaction marketing is optimal in the long run, while relationship marketing is optimal in the short run 4) None of the listed options 5) Both relationship and transactional marketing are optimal in the long runarrow_forward
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
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