MAR3023 CHAPTER 1 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Peter Drucker's quote on Marketing:
"The aim of marketing is to________
know and understand customers so well the product or service fits them and sells itself."
Marketing is really all about_______
products and customers
Marketing is_______
the answer to the question of why you buy a product
product development is________
a core marketing function
-firms don't get very far without good products to sell
There would be no firms without_________
marketing
The first goal of marketing is to identify_________
unmet consumer needs and then develop products that fill those needs.
, What are the 3 things Great Marketers do?
1.Develop products that people want or need
2.Price them at a level that maximizes profits
3.Distribute them everywhere consumers are
(if you get all these right, promotion becomes less important)
Great Marketing:
Think about what is was like for consumers before_______
these products were introduced
-products like the first cellphone, vhs tape, headset, gps system
Great products:
Apple example
Apple put all of these consumer wants in needs in your pocket
-phone, movies, music, gps all in one
Great products:
Destination products
-they have such a strong following that people will go out of their way to get it.
-people will make a special trip to a place they would not normally be to get the product.
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Peter Drucker's quote on Marketing:
"The aim of marketing is to________
know and understand customers so well the product or service fits them and sells itself."
Marketing is really all about_______
products and customers
Marketing is_______
the answer to the question of why you buy a product
product development is________
a core marketing function
-firms don't get very far without good products to sell
There would be no firms without_________
marketing
The first goal of marketing is to identify_________
unmet consumer needs and then develop products that fill those needs.
, What are the 3 things Great Marketers do?
1.Develop products that people want or need
2.Price them at a level that maximizes profits
3.Distribute them everywhere consumers are
(if you get all these right, promotion becomes less important)
Great Marketing:
Think about what is was like for consumers before_______
these products were introduced
-products like the first cellphone, vhs tape, headset, gps system
Great products:
Apple example
Apple put all of these consumer wants in needs in your pocket
-phone, movies, music, gps all in one
Great products:
Destination products
-they have such a strong following that people will go out of their way to get it.
-people will make a special trip to a place they would not normally be to get the product.
