According to the text, marketing means:
more than selling and advertising.
A department store extends its hours of operation during the holiday season. This is an example of:
Men's Outlet Store purchases clothing manufacturers' excess inventories of suits and sells them at a substantial discount through its chain of stores. When a customer purchases a suit, any necessary alterations are done immediately by tailors at the store. In this situation, Men's Outlet Store creates:
task, time, place and possession utility
Micro-marketing is concerned with customers and the organizations that serve them
Which of the following statements best describes the modern view of marketing?
Marketing begins with potential customer needs
emphasizes how the whole marketing system works
Economies of scale" prevent a company from taking advantage of mass production
The standardization and grading function of marketing involves
sorting products according to size and quality
Which of the following statements about the "universal functions of marketing" is FALSE?
These functions do not have to be performed in all macro-marketing systems
Which of the following is MOST likely to be classified as a marketing facilitator?
Wyatt Shipping and Transfer Company
In a planned economic system, producers generally have little choice about what goods and services to produce.
Which of the following statements about a market-directed economic system is TRUE
Consumers enjoy substantial freedom of choice
Which of the following statements is MOST characteristic of the "production era
There is no limit
Administrators at a university noted that they were 200 students short of their enrollment projection as the start of the school year approached
The three basic ideas in the marketing concept are: 1) customer satisfaction; 2) confining marketing activities to marketing professionals; and
A producer with a marketing orientation is MOST likely to
Distribute the product according to the needs customers have for product availability
In a firm that has a total company effort in implementing the marketing concept
Departments—even very specialized ones--are guided by what customers want
A local theatre group that has adopted the marketing concept would be MOST likely to
Do a survey to find out what new shows patrons would like to see
Customer value is best viewed from the perspective of the marketing manager, not the consumer
Which of the following statements about customer value is TRUE
Retaining current customers is usually less costly than taking customers away from a competitor
Which of the following organizations should apply the marketing concept
All of the above
Which of the following is an example of the "micro-macro dilemma
A restaurant owner uses plastic containers to keep "take-out" food warm for customers, but the containers cannot be reused or recycled
Which of the following statements is TRUE regarding social responsibility in marketing
Only A and B above