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Chapter 2 revision Flashcards | StudBud
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Chapter 2 revision
Chapter 2 revision
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Questions
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Answers
1
Production Concept focuses on
Customers
Mass Production
Custom Production
None of the above
2
Customer 'VALUE' Creation includes
minimizing customer benefits and maximizing customer costs
Focusing on personal compamy goals
Maximizing Profit at any customer cost
Maximizing customer benefits and minimizing customer costs
3
Which Case Study method gathers new information and new theories
Exploratory Method
Descriptive Method
Albert Einstein
Explanatory Method
4
Descriptive Method answers the questions 'Why'
True
False
5
"Explanatory" and "exploratory" Methods are the same
False
True
6
Which of the following are true?
Selling concept works better than both product and production concept
Product concept is better than production concept
Different concepts works for different types of companies
Production concept is better than product concept
7
Product Concept focuses on product based on their belief rather than customer needs
True
False
8
Production Concept believes in " Customers buy what we can produce at the cheapest rate and maximum availability"
False
True
9
Product Concept disregards customer needs
True
False
10
Which Case Study method Describes characteristics by observing behavior
Explanatory Method
Exploratory Method
Descriptive Method
Eating Mentos: Dimag ki batti jaladey
11
Needs and wants of people change over time
True
False
12
Exploratory Method answers the questions 'What/Who'
True
False
13
Social Welfare in marketing concepts means
I don't know
Guiding marketing activities in a way that societies benefit
Working only towards benefitting society and nothing else
guiding marketing without any consideration for the society's benefit
14
Holistic Marketing concept of Marketing is focused on
Specific elements of a business need marketing
Everything in a company needs to practice marketing
Facebook is controlling your mind
Marketing is a Holy Concept
15
Modern Marketing Concepts focuses on customer's needs
False
True
16
Why did Pepsi hold the blind test challenge even after knowing people prefered coke?
To find an excuse to advertise as a better product
To support blind people
Because they hated coke
They truly had a better product
17
Why did the statistics show Pepsi was more preferred when people still preferred coke?
People only like sweeter for one sips not whole drinks
The statistics was influenced by Russia
Pepsi was actually better
People hate coke
18
Selling concept of Marketing is focused on
High Research and customer focus
High Promotion whatever they can do to sell more
Maximum Quality and Maximum Value on the product
Low cost of production
19
Needs and wants are the same across all cultures and locations
False
True
20
Holistic marketing concepts focuses on
Customers
None of the above
Marketing Activities"Everything Matters"
market
21
It is not important for companies to be concerned with social welfare
True
False
22
Marketing concepts are USELESS in demand creation for brands
True
False
23
Pepsi's success over coke due to the blind test trick is an example of demand creation
False
True
24
Holistic Marketing Concept believes in "Customers will buy if brands are consistent in all marketing activities"
False
True
25
Explanatory Method answers the questions 'who let the dogs out?'
True
False
26
Societal Marketing Concept believes in "Customers will buy if we contribute to the society and environment's welfare"
True
False
27
Last Question: I SWEAR TO GOD i pay attention in class. Think about it :')
False
True
28
Product concept of Marketing is focused on
Maximum Quality and Maximum Value on the product
High Promotion for the product
Mass Customization in products
Mass production and Mass Distribution of products
29
It is not the Company's responsibility to care for what customers find offensive or not
False
True
30
Which Case Study method finds relationships between two entities
Exploratory Method
Unitary Method
Explanatory Method
Descriptive Method
31
Insurance companies are an example of
Holistic Marketing Concept
Product Concept
Selling concept
Production Concept
32
Societal Marketing concept maintains a balance between society, customers and __________
Market
Company
Companions
Product
33
The market/customers of today are very sensitive towards what companies communicate
False
True
34
Customers do not care if brands are consistent throughout all marketing platforms
True
False
35
Aggressive selling is a concept of
Modern Marketing Concept
Societal marketing concept
Selling concept
Production Concept
36
Currently customers do not care if brands are socially conscious about the society and environment
False
True
37
Selling Concept believes in " Customers will buy anything i can push in sales"
False
True
38
Modern Marketing Concept believes in "Targeted Customers will buy if we fulfill their needs and wants"
True
False
39
Customer Satisfaction is most catered in
Product Concept
Production concept
Modern Marketing Concept
Selling Concept
40
Modern Marketing concept of Marketing is focused on
High Promotion whatever they can do to sell more
Low cost of production
High Research and customer focus
Maximum Quality and Maximum Value on the product
41
Product Concept believes in " Customers will buy products if it is of the highest quality with good features"
False
True
42
Societal Marketing concept of Marketing is focused on
I'm not veg because i love animals. I hate animals so i feed their food
Only social work whilst losing money of the company
Doing activities that benefit the society whilst doing business
Global Warming is a hoax
43
Emphasis on product quality is done on product Concept
False
True
44
Production concept of Marketing is focused on
High Promotion
Mass Customization
Maximum Quality and Maximum Value
Mass production and Mass Distribution
45
Apple's iphone is an example of
Selling Concept
Societal marketing Concept
Production Concept
Product Concept
46
Why do Marketing Concepts need to be developed?
Fulfill needs and wants
All of the Above
Demand Creation
Social Welfare & Customer Value Creation
