Marketing In Today's Business Milieu

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Marketing in Today's Business Milieu
Marketing Foundations: Global, Ethical, Sustainable
Elements of Marketing Strategy, Planning, and Competition
Market Research Essentials
CRM, Big Data, and Marketing Analytics
Understand Consumer and Business Markets
Segmentation, Target Marketing, and Positioning
Product Strategy and New Product Development
Build the Brand
Service as the Core Offering
Manage Pricing Decisions
Manage Marketing Channels, Logistics, and Supply Chain
Promotion Essentials: Digital and Social Media Marketing
Promotion Essentials: Legacy Approaches

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Question 1

Free

True/False

A commonly held misconception about marketing is that it is all about advertising and selling.

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Question 2

Free

True/False

Marketing is relevant only to people in the organization who work directly in the marketing department.

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Question 3

Free

True/False

The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."

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Question 4

Free

True/False

Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation.

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Question 5

Free

True/False

Sustainability refers to business practices that meet humanity's needs without harming future generations.

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Question 6

True/False

Firms that are stuck in a production orientation mentality likely will have great difficulty competing successfully for customers.

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Question 7

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When Henry Ford said, "People can have the Model T in any color-so long that it's black," he was reflecting a sales orientation.

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Question 8

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Don Peppers and Martha Rogers popularized the term one-to-one marketing. Some firms come close to one-to-one marketing by combining flexible manufacturing with flexible marketing to enhance customer choices.

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Question 9

True/False

Fred Wiersema's book The New Market Leaders states that marketers will continue to have more power than customers in both B2B and B2C markets.

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Question 10

True/False

In the current business environment, firms have learned to be open about products and services with consumers who have endless sources of information, including blogs, chat rooms, and independent websites.

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Question 11

True/False

Customer orientation, a component of market orientation, places the customer at the core of all aspects of the enterprise.

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Question 12

True/False

Direct-to-consumer marketing by pharmaceutical companies and the vast amount of health information available to patients on websites has consumers ready to self-diagnose and self-prescribe.

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Question 13

True/False

GenY consumers tend to value relationships with marketers like State Farm Insurance in exactly the same way as the prior generations.

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Question 14

True/False

In contrast to Marketing (Big M), marketing (little m) serves the firm and its stakeholders at a functional or operational level.

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Question 15

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Marketing (Big M) refers to the strategic, long-term, firm-level commitment to investing in marketing.

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Question 16

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For successful Marketing (Big M), firms need to align all internal organizational processes and systems around the customer.

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Question 17

True/False

Strategic marketing refers to the idea that firms should direct energy and resources into establishing a learning relationship with each customer and connect the learned knowledge with the firm's production and service capabilities.

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Question 18

True/False

Practicing marketers tend to pitch marketing internally as an investment, not an expense, in the future success of the organization.

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Question 19

True/False

If aspects of marketing can't be measured, they can still be managed.

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Question 20

Multiple Choice

Of all the business fields, ________ is generally the most visible to people outside the organization.

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financial management

accounting

marketing

information technology

operations management

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