Marketing - Chapter 1

Marketing management is?

• managing the marketing process

• monitoring the profitability of the company’s products and services

• selecting target markets

• developing marketing strategies to move the company forward

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

As economies advance, a growing proportion of their activities focuses on the production of ..... ?

• products

• events

• experiences

• places

• services

Charles Revson of Revlon observed: 'In the factory, we make cosmetics; in the store, ________.'

• we make profits

• we challenge competitors

• we implement ads

• we sell hope

• we sell quality

The ________ concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.

• product

• marketing

• production

• selling

• holistic marketing

________ marketing aims to build mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners.

• Holistic

• Demand-based

• Direct

• Relationship

• Synthetic

Companies are recognizing that much of their market value comes from ________, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.

• variable assets

• the value proposition

• intangible assets

• tangible assets

• customer preferences

Car rental firms, barbers, and management consultants provide.....?

• goods

• experiences

• places

• services

• information

A number of companies—including the Body Shop, Ben & Jerry’s, and Patagonia—have achieved notable sales and profit gains by adopting and practicing a form of the societal marketing concept called ________, by which a company with an image, product, or service to market builds a relationship or partnership with a cause, or a number of causes, for mutual benefit.

• social marketing

• environmental marketing

• cause-related marketing

• benefit marketing

• responsible marketing

 ………… includes all the actual and potential rival offerings and substitutes that a buyer mightconsider.

• Competition

• The product offering

• A value proposition

• The supply chain

• The marketing environment

Companies selling goods and services in the global marketplace have the advantage of being able to sell the goods and services in almost the same way as they do in their domestic market.

• True

• False