chapter one mktg 3650 | Questions and Correct Solutions Latest update

chapter one mktg 3650 | Questions and Correct Solutions Latest update selling orientation - Answer - expected to do whatever to reach sales quotas; aggressive selling; Hillary Clinton, as a presidential candidate, actively engaged in trying to persuade potential voters of her ideas and her worthiness to be elected as the first woman president of the US. From a marketing perspective, Mrs. Clinton, as a candidate, illustrates the ____________ component of the marketing mix. - Answer - product most critical premise of marketing concept - Answer - That the firms primary objective should be one of identifying and satisfying customers needs i.e. the customer should be central to everything the firm does Marketers develop and promote solutions to __________ that exist in the collective minds of markets. - Answer - problems At the core, marketing is based on __________ with others. - Answer - exchange Bates Manufacturing produces some of the finest furniture in North Dakota. Buyers world-wide attend furniture shows to view Bates' newest creations. Last year, management increased its production capacity by almost 20 percent, assuming that increased capacity would lead to substantial cost reductions that would allow Bates to further lower its prices. Management assumed that buyers choose its furniture due to its high quality and reasonable prices. Bates Manufacturing is acting as if it is in the _____________ stage of marketing thought. - Answer - production`-orientation __________ is defined from the perspective of customers, capturing their perceptions of what they receive in exchange for what they give. - Answer - value Carlota has opened a small business. She is selling a bottled hot sauce made from locally grown peppers using a formula passed down in her family. The product is sold via eBay and Amazon and is delivered by FedEx. So far, no promotion other than word-of-mouth on social media has been needed. For only $9.95, you can buy a quart bottle. The preceding describes the _________