Marketing Fundamentals

What is the main difference between marketing and sales?

Marketing focuses on customer needs, while sales focuses on profit

What is the primary objective of marketing?

To satisfy consumer needs

What is the purpose of marketing control?

To audit marketing activities

What is the relationship between marketing and sales?

Sales is a subset of marketing Signup and view all the answers

What is the primary focus of advertising?

Promoting a product Signup and view all the answers

What is the difference between a push and pull marketing strategy?

Push strategy is used for new products, while pull strategy is used for existing products Signup and view all the answers

What is the central idea of marketing?

To arrive at the desired exchange Signup and view all the answers

What is an example of an exchange?

Obtaining sweet by paying money Signup and view all the answers

How many parties are required for an exchange to take place?

At least two parties Signup and view all the answers

What is the ultimate outcome of relationship marketing?

A marketing network Signup and view all the answers

Who is responsible for establishing and maintaining long-term relations with business parties?

The marketing manager Signup and view all the answers

What type of ties are formed among parties through relationship marketing?

Economical, technical, social, and cultural ties Signup and view all the answers

What is the primary outcome of having a good network of relationships with key stakeholders?

Excel in marketing performance over time Signup and view all the answers

What is a market, according to marketing management?

All potential customers sharing a particular need or want Signup and view all the answers

What is the primary role of a marketer?

To seek one or more prospects to engage in an exchange Signup and view all the answers

Who can be considered a prospect?

Someone who is potentially willing and able to engage in an exchange Signup and view all the answers

What is the primary focus of market orientation?

Creating products and services that satisfy consumers Signup and view all the answers

What is the social and managerial process that involves obtaining what one needs and wants through creating and exchanging products and value with others?

Marketing Signup and view all the answers

What is the core idea behind the societal marketing concept?

Believing that the company should give back to the society in return for its benefits Signup and view all the answers

Which of the following is an example of a company implementing the societal marketing concept?

A company using bio-degradable paper bags instead of plastics Signup and view all the answers

What is the expected outcome of a company adopting the societal marketing concept?

An improvement in the company's brand image Signup and view all the answers

Why does a company adopting the societal marketing concept take measures to benefit the society?

Because it has benefited from the society Signup and view all the answers

What is the driving force behind the growth of the societal marketing concept?

The growing awareness of social responsibility Signup and view all the answers

What is the primary principle behind the concept of scale economies?

Distributing fixed costs over a larger market share Signup and view all the answers

Which of the following companies is an example of a successful product under the product concept?

Apple Signup and view all the answers

What is the main idea behind the selling concept?

Customers will not buy products unless persuaded to do so Signup and view all the answers

According to the product concept, what should companies focus on to be successful?

Keeping themselves updated with technical trends and customer needs Signup and view all the answers

What is the result of increasing productivity levels, according to the scale economies concept?

Decreased cost of production Signup and view all the answers

Which of the following is an example of a product that often requires the selling concept?

Insurance Signup and view all the answers