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Principles of Marketing Chapter 1-2 Flashcards | StudBud
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Principles of Marketing Chapter 1-2
Principles of Marketing Chapter 1-2
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Questions
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Answers
1
Marketing channel that involves no intermediaries to made their products available to final buyers is classified as ...
Static channel
Flexible channel
Direct channel
Indirect channel
2
Transactional marketing is more concerned with making the immediate sale than building relationships.
True
False
3
Diversification is best described as which of the following?
New products for new markets
Existing products in new markets
Existing products in existing markets
New products for existing markets
4
The mistake of paying more attention to products than benefits is the definition of MARKETING MYOPIA.
True
False
5
Societal marketing: consumers won't buy the firm's product unless the firm undertakes the selling & promotion effort
True
False
6
Which of the following is NOT an element of the Market Segmentation?
Distribution
Psychographic
Geographic
Behavioural
7
Which of the following is NOT an element of the marketing mix?
Place
Price
Product
Positioning
8
In the Customer Relationship Groups, Barnacles are highly loyal but not very profitable.
False
True
9
What is the highest levels of Maslow's Hierarchy of Needs?
Safety
Self-actualization
Physiological
Love
10
The set of all actual & potential buyers of a product or service is the definition of ...
Demand
Customer value
Exchange
Market
11
Why is marketing important in a demand-driven economy?
All is correct
Consumers have lots of choice
Supply often exceeds demand
There is competition for customers
12
Which of the following is NOT a type of SBU's?
Cat
Star
Question mark
Cash cow
13
Which of the following is NOT an element of customer & marketing core concepts?
Exchanges & Relationships
Customer Value & Satisfaction
Customer equity
Markets
14
Which of the following is NOT an element of the selling concept?
Factory
Existing products
Integrated marketing
Profits through sales volume
15
Today's marketers need ...
Neither creativity nor critical thinking skills
Creativity but not critical thinking skills
Critical thinking skills but not creativity
Both creativity and critical thinking skills
16
Marketing is a process by which companies to ...
Engange customers
Create customer value
All is correct
Build strong customer relationships
17
The ... function of marketing makes the products available in different geographic regions.
Promotion
Production
Distribution
Selling
18
Customers are showing greater price sensitivity in their search for ...
Value
The right service
The right product
The right store
19
The stage is the product life cycle that focuses on expanding market and creating product awarenes and trial is the:
Decline stage
Maturity stage
Growth stage
Introduction stage
20
Segmentation is the process of:
Selecting one group of consumers among several other groups
None of these
Dividing the market into homogenous groups
Creating a unique space in the minds of the target consumer
