PRINCIPLE OF MARKETING – MGT 301

PRINCIPLE OF MARKETING – MGT 301
When railroad companies thought that users wanted trains rather than transportation and overlooked
the growing challenge of other modes of transportation they were following the selling concept.

 True
 False

Environmental concerns have been on the decline in the past decade, more government legislation and
the green movement may be the cause of this trend.

 True
 False

The microenvironment consists of the factors close to the company that affect its ability to service its
customers, such as suppliers, customer markets, competitors, and publics.

 True
 False

An exchange is the core concept of marketing, whereas a transaction is marketing’s unit of
measurement.

 True
 False

When backed by buying power, wants become demand.

 True
 False

De-marketing is a marketing philosophy focused upon product differentiation and positioning.

 True
 False

Delivering superior customer value and customer satisfaction are the two keys to building lasting
customer relationships.

 True
 False

When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from
marketing myopia.

 True
 False

The twofold goal of marketing is to attract new customers by promising superior value and to keep and
grow current customers by delivering satisfaction.

 True
 False

Smart marketers look beyond the attributes of the products and services they sell. They create brand
experiences for consumers.

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,  True
 False

Most firms follow the production concept when they force overcapacity.

 True
 False

Customer-perceived value depends on the product’s perceived performance relative to a buyer’s
expectations.

 True
 False

Your accounting department must measure revenues and costs to help the marketing department know
how well it is achieving its objectives.

 True
 False

Marketing management is interested in serving all customers in every way to remain competitive in
today’s markets.

 True
 False

Most household income is used up in purchasing food, housing, and transportation.

 True
 False

The simplest definition of modern marketing is managing profitable customer relationships.

 True
 False

When backed by buying power, needs become demand.

 True
 False

Smart marketers look beyond attribute of the product and services sell. They create brand experience for
consumers.

 True
 False

At times become necessary to reduce the demands of some product and services. When the govt. try to
reduce smoking of the tobacco product

 True
 False

The production concept and product are two philosophies that can lead both to the market myopia.

 True
 False

This study source was downloaded by 100000857300661 from CourseHero.com on 12-11-2022 13:47:34 GMT -06:00


https://www.coursehero.com/file/181518416/MGT301-QUIZ-MID-TERMdocx/