Master the Fundamentals of Marketing with this Quiz!
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best defines marketing management?

  • Creating, delivering, and communicating superior products
  • Choosing target markets and getting, keeping, and growing customers (correct)
  • Identifying and meeting human and social needs
  • Focusing on existing wants and losing sight of consumer needs

    • What is the difference between needs and wants?

  • Needs are shaped by culture and individual personality, wants are a state of deprivation
  • Needs are wants backed by buying power
  • Needs are physical necessities, wants are social and individual desires (correct)
  • Needs are backed by buying power, wants are wants shaped by culture

    • What does marketing myopia refer to?

  • Focusing on existing wants and losing sight of underlying consumer needs (correct)
  • Selling a solution to the problem rather than just the product
  • Identifying and meeting human and social needs
  • Focusing on a specific, limited segment of the market

    • What is narrow orientation in business strategy?

    <p>Focusing on a specific, limited segment of the market</p> Signup and view all the answers

    According to Levitt, what should firms sell?

    <p>A solution to the problem</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser