12 Questions
What is marketing?
Creating and delivering offerings that have value for customers
Which element of the 4 P's involves advertising, public relations, and personal selling?
Promotion
What is the relationship between customer value and benefits?
Customer value is related to the sacrifice necessary to obtain benefits
What does a market orientation involve?
Obtaining information about customers, competitors, and markets
What does the term 'SWOT' stand for in strategic planning?
Strengths, Weaknesses, Opportunities, Threats
Which element of the marketing mix involves transportation and storage of products?
Place
Which marketing philosophy focuses on satisfying customer wants and needs without relying on an aggressive sales force?
Market orientation
In which marketing philosophy does the organization exist not only to satisfy customer wants but also to preserve or enhance individuals' long-term best interests?
Societal marketing orientation
Which marketing philosophy may struggle if the company does not understand the needs of the market?
Sales orientation
Which marketing philosophy involves asking 'What can we do best?' and focuses on production capabilities?
Production orientation
Which marketing philosophy emphasizes meeting organizational objectives along with satisfying customer needs?
Societal marketing orientation
Which marketing philosophy recognizes that some customer desires may not align with society's best interests?
Societal marketing orientation
Test your knowledge on the 4 different types of marketing management philosophies and understand the scenarios in which each is utilized. Topics include production orientation and sales orientation.
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