Chapter 5 -MARKET ECONOMY SYSTEM

According to the production concept, what do consumers favor?

• Cheap products

• Innovative features

• Luxury products

• High quality products

What does the product concept hold that consumers will favor?

• Low cost products

• High quality products

• Basic features products

• Outdated products

According to the selling concept, what is necessary for consumers to buy the firm's products?

• Cheap products

• Innovative features

• Large-scale selling and promotion effort

• Quality products

What does the marketing concept hold is necessary to achieve organizational goals?

• Large-scale selling and promotion effort

• Cheap products

• Knowing the needs and wants of target markets

• Innovative features

According to the societal marketing concept, what should marketing strategy deliver?

• Value to customers only

• Value to society only

• Value to customers and society's well-being

• Value to competitors

What is the main focus of the production concept?

• Promotion

• Quality

• Affordability

• Innovation

What is the main focus of the product concept?

• Promotion

• Innovation

• Affordability

• Quality

Which one doesn't include with creating the "BRAND"?

• Strategy

• Innovation

• Advertising

• Supply

What is the company gets from Societal Marketing Concept?

• Profits

• Satisfaction

• Human Welfare

• Resource

What is the main focus of the selling concept?

• Affordability

• Innovation

• Quality

• Promotion