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B) It focuses mostly on monitoring the profitability of a company's products and services.A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.E) It is seldom used by nonprofit organizations.ġ4) _ management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.ġ5) Identify the correct statement about marketing management.D) It is more important for bigger organizations than smaller ones.C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.B) It can help create jobs in the economy by increasing demand for goods and services.A) It is of little importance when products are standardized.D) To copy what benchmark competitors are doingġ3) Which of the following statements about marketing is true?.B) To lower costs by engaging lower-paid worker in research.E) Failing to use marketing intermediaries effectivelyġ1) Which of these reasons was identified as a success factor for the British firm RB (formerly Reckitt Benckiser)?ġ2) Which of these is a reason senior management should encourage fresh ideas from underrepresented groups of employees?.D) Confusing markets with unclear corporate branding.B) Failing to articulate a clear customer message.A) Failing to continually improve value offerings and marketing strategies.E) By building demand for products and servicesĩ) In the four flows in a modern exchange economy, what do sellers receive from buyers in addition to money?ġ0) The decline of companies such as MySpace and Blockbuster can be attributed at least in part to which of these marketing mistakes?.B) By encouraging conspicuous consumption.E) American consumers have enough disposable income to afford luxury gadgets.Ĥ) Which of these entities represent the bulk of most countries' marketing efforts?ĥ) Raw materials, labor, and sources of funding represent which kind of market?Ħ) A public service announcement (PSA) encouraging people to wear masks during a pandemic outbreak represents what kind of marketed entity?ħ) Which of these is NOT one of the five basic markets?Ĩ) How does successful marketing create jobs?.D) Both products underpriced their competition.C) Neither product led its category, but both were sold aggressively.B) Both products were flukes that happened to hit the market at the right time.A) Both companies designed the right product based on thoughtful research.E) Selling and marketing are synonymous.ģ) Which of these was identified as key reason why Nintendo had a hit with the Wii and Apple with the iPad?.D) The sales function should set strategy, while the marketing function owns tactics.B) Selling should have equal importance in the corporate hierarchy.E) Marketing is about identifying and meeting human and social needs in a way that harmonizes with the goals of the organization.Ģ) With regard to the selling function, what did Peter Drucker have to say about the aim of marketing?.D) To improve efficiency, most firms now restrict marketing activities within the "official" boundaries of the marketing department.C) Marketing's emphasis within the firm continues to decline.
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B) With the rise of social commerce, company-driven marketing is no longer important.A) Marketing is synonymous with selling.Test Bank Marketing Management, 16th Edition Philip KotlerĬhapter 1 Defining Marketing for the New Realitiesġ) Which of these is an accurate characterization of the contemporary view of marketing?