Exam 11: The Marketing Concept

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

The process people use to determine the value of a product is not highly scientific.

The marketing environment is a set of static, unchanging surroundings.

Marketing efforts do not involve the design and development of products.

Distribution, price, promotion, and product are all elements of_____

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

Marketing management is the process of planning, organising, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

____ is provision or transfer of goods, services and ideas.

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

The marketing concept stresses that a business organisation can best achieve its goal by providing customer satisfaction through coordinated activities.

Customers are the focal point of all marketing activities.

During the market orientation, business people realised that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

_____ refers to minimising the resources an organisation must spend to achieve a specific level of desired exchanges.

Which of the following statements about marketing environment forces is correct?

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organisation.

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

A target market:

The Marketing era was the period in which product and aggressive selling were no longer seen to suffice if customers either did not desire a product or preferred a rival brand, and in which customer needs were identified and satisfied

The marketing concept is best defined as:

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.