The role of Marketing

Most people think of marketing as just being about advertising and selling of products.

• True

• False

Marketing is a philosophy whose main focus is providing customer satisfaction.

¿This information was coming from the Youtube video or from the Book?

• Youtube video

• Book

In the slides, Marketing and its relationship with other business functions, in the example of Under Armour, the areas were:

• Accounts

  Management

  Operations

• Finances

  Management

  Human Resources

• Human Resources

  Operations

  Finances

Tangible, physical consumer ______ are often marketed in different ways to intangible consumer ______.

• goods

  services

• products

  services

The consumer is put first – the business attempts to produce what consumers want rather than try to sell them a product they may not really want to buy. It has advantages, especially in fast-changing, volatile consumer markets.

• marketing of goods

• marketing of services

• product orientation

• market orientation

Traditional ________ businesses, which assume there will always be a market for the products they make, are fast disappearing. However, product-led marketing still exists.

• marketing of goods

• marketing of services

• product oriented

• market oriented

________ businesses invent and develop products in the belief that they will find consumers to purchase them. For example in pharmaceutical and electronic industries.  Here there is still the belief that if they produce an innovative product of a good enough quality, then it will be purchased.

• consumer goods

• consumer services

• product oriented

• market oriented

________ can be measured in two ways: volume of sales (units sold) or value of goods sold (revenue). 

• Market growth

• Market size

• Competitors and ease of entry

• Segmentation

• Differentiated or homogeneous products

The pace of ______ will depend on several factors including economic growth, changes in consumer incomes, development of new markets, changes in consumer tastes and technological change, which can boost market sales through innovative products.

• Market growth

• Market size

• Competitors and ease of entry

• Segmentation

• Differentiated or homogeneous products

All businesses need to be aware of the number and size of their direct ______ and the ______ with which new rivals could join the market. 

• Market growth

• Market size

• Competitors and ease of entry

• Segmentation

• Differentiated or homogeneous products