LECTURE 1 (CLASS 1)

Front

Which marketing approach starts from the company’s internal strengths and then tries to meet market needs?

Back

Resource-based marketing

Answer explanation

Resource-based marketing focuses on what the company is good at (organizational capabilities) and then develops offerings that align with market needs.

Front

Which approach begins with market needs and guides company offerings based on customer preferences?

Back

Customer-led marketing

Answer explanation

Customer-led marketing responds directly to what customers want. It identifies market needs first, then aligns company efforts to satisfy those needs.

Front

Which marketing approach starts by creating a product and then tries to find or push it into the market?

Back

Product push marketing

Answer explanation

Product push marketing is more traditional. The company develops a product based on what it can make well and then tries to market it to consumers, hoping they will want it.

Front

Which of the following statements best describes the goal of all three marketing approaches? To increase product supply, To align market needs with organizational capabilities, To eliminate competition, To reduce prices and costs

Back

To eliminate competition

Answer explanation

The key aim of all three approaches—whether starting from the market, the company, or the product—is to create a strategic fit between what the market wants and what the company can do.

Front

Which of the following best describes the difference between lip service and reality in how firms treat customer success factors? Options: Firms genuinely prioritize customer satisfaction over financials., Firms invest heavily in building customer service skills., Firms often say customers are important, but focus more on short-term gains. , Firms rely on customer databases to maintain strong relationships.

Back

Firms often say customers are important, but focus more on short-term gains.

Answer explanation

The slide shows that many firms say they value customer satisfaction, service, and relationships, but in reality, they prioritize short-term profits and show weak customer service skills or relationship-building efforts. This gap between words and actions is defined as lip service—appearing to care, without real commitment.

Front

What is the main goal of a mutually beneficial exchange between provider and customer in marketing?

Back

Satisfy both provider and customer goals

Answer explanation

The diagram shows that marketing involves a two-way exchange: providers offer products/services to meet customer needs, while customers respond with purchases and support. Both sides pursue different goals (e.g., survival vs. well-being), but true marketing success lies in mutual satisfaction—a win-win situation.