Marketing Management 3rd

Marketing Management, 3e (Marshall) Chapter 1 Marketing in Today's Business Milieu 1) A commonly held misconception about marketing is that it is all about advertising and selling. Answer: TRUE Explanation: A commonly held misconception about marketing is that it is all about advertising and selling. Several important factors have contributed to the development of these misconceptions: marketing's inherent visibility and its tendency toward buzzwords and "spin." Difficulty: 1 Easy Topic: Marketing and Marketing Management Defined Learning Objective: 01-01 Identify typical misconceptions about marketing, why they persist, and the resulting challenges for marketing management. Bloom's: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation 2) Marketing is relevant only to people in the organization who work directly in the marketing department. Answer: FALSE Explanation: Marketing's stakeholders include any person or entity inside or outside a firm with whom marketing interacts, impacts, and is impacted by. Difficulty: 2 Medium Topic: Marketing and Marketing Management Defined Learning Objective: 01-01 Identify typical misconceptions about marketing, why they persist, and the resulting challenges for marketing management. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation