Marketing intro

1)Which of the following statements about marketing is true?

• It is of little importance when products are standardized

• It can help create jobs in the economy by increasing demand for goods and services

• It helps to build a loyal customer base but has no impact on a firm's intangible assets

• It is seldom used by nonprofit organizations

________ management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

• Marketing

• Knowledge

• Operations

• Strategic

A social definition of marketing says ________.

• effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers

• a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products

• marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others

• marketing is the process of extracting the maximum value from consumers to facilitate corporate growth

________ goods constitute the bulk of most countries' production and marketing efforts

• Durable

• Impulse

• Physical

• Luxury

As economies advance, a growing proportion of the economy's activities focuses on the production of ________

• products

• events

• experiences

• Services

In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________

• experience

• service

• event

• organization

Sales of woolen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand

• irregular

• declining

• impulse

• latent

People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market

• demographic

• business

• need

• geographic

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand

• negative

• latent

• declining

• irregular

When demand is ________, it implies that more customers would like to buy the product than can be satisfied

• latent

• irregular

• overfull

• full