Question # 00005685 Posted By: smartwriter Updated on: 12/22/2013 03:02 PM Due on: 12/31/2013
Subject Business Topic General Business Tutorials:
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1. Marketing is basically selling and advertising.

2. Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires and expectations.


3. If a firm produces the right goods or services, marketing has little role to play in creating customer satisfaction.

4. Marketing can provide needed direction for production and help make sure that the right goods and services find their way to interested consumers.


5. In advanced economies, marketing costs only about 10 percent of each consumer's dollar.

6. Marketing encourages the development and spread of new ideas, goods, and services.

7. Marketing can be viewed as a set of activities performed by organizations, but not as a social process.

8. Marketing can be viewed as a social process, but not as a set of activities performed by organizations.

9. The micro view of marketing sees it as the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.


10. The micro view ofmarketing is mainly concerned with the activities performed by organizations.

11. From a micro view, marketing activities are performed only by profit-oriented organizations.

12. Marketing activities should begin with potential customer needs, not with the production process.

13. Production, not marketing, should determine what products are to be made.


14. Marketing should begin with the production process.

15. Marketing does not occur unless there are two or more parties who want to exchange something for something else.

16. Marketing is concerned with individual transactions rather than with building ongoing relationships with customers because that is the job of people in the public relations department.

17. Macro-marketing emphasizes how the whole marketing system works.


18. Macro-marketing emphasizes the activities of individual organizations.


19. An effective macro-marketing system matches heterogeneous supply with heterogeneous demand.


20. "Economies of scale" means that as a company produces more of a product the total cost of production goes up.

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21. "Economies of scale" means that as a company produces more of a product the cost of each unit produced goes down.


22. In advanced societies, all goods and services can be produced with mass production and its economies of scale.


23. Both mass production and effective marketing are needed to satisfy the economic needs of an advanced economy.


24. An effective macro-marketing system overcomes discrepancies of quantity and discrepancies of assortment by using the universal functions of marketing.


25. Buying, selling, transporting and storing are all universal marketing functions.

26. The universal functions of marketing are performed in the same way in all nations and economic systems.


27. The advantages of working with intermediaries (middlemen) increase as the number of producers and customers, their distance apart, and the number and variety of competing products increase.


28. Marketing specialists such as intermediaries and collaborators hinder the exchange process between producers and consumers.


29. E-commerce refers to exchanges between individuals and organizations--and the activities that facilitate those exchanges--based on applications of information technology.


30. E-commerce refers to exchanges between organizations, but not exchanges between individuals.

31. Compared to other innovations, firms have been relatively slow to adopt e-commerce.

32. Marketing costs go down and customer satisfaction goes up in all exchanges handled by e-commerce.

33. An economic system is the way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption among various people and groups in the society.

34. Only industrial nations need an economic system to decide what and how much is to be produced and distributed by whom, when, to whom, and why.


35. In a command economy, the individual decisions of many producers and consumers make the macro-level decisions for the whole economy.

36. A market-directed economy is one in which government officials decide what and how much is to be produced and distributed by whom, when, to whom, and why.

37. Market-directed economies tend to provide consumers with greater freedom of choice than command economies.


38. In a market-directed economy, consumers enjoy complete freedom of choice.

39. In a market-directed economy, profit is guaranteed.


40. Whether a particular macro-marketing system is judged fair and effective depends on the objectives of the society.

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Tutorials for this Question
  1. Tutorial # 00005479 Posted By: smartwriter Posted on: 12/22/2013 03:03 PM
    Puchased By: 2
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    down. | Ans: True 22. In advanced societies, all goods and services ...
    Question_Chap1_15Dec_-_Answer.docx (14.14 KB)

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