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New-product development
Answer: d Pages: 29-30 Difficulty: Medium AACSB: Communication
60. Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.
a. control
b. analysis
c. measurement
d. retrospective
e. consumer behavior
Answer: a Page: 30 Difficulty: Medium AACSB: Analytic Skills
True/False
61. A short definition of marketing is “meeting needs profitably.”
Answer: True Page: 5 Difficulty: Easy AACSB: Analytic Skills
62. Value marketing is the “art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.”
Answer: False Page: 5 Difficulty: Medium
63. Services constitute the bulk of most countries’ production and marketing effort.
Answer: False Page: 6 Difficulty: Medium AACSB: Analytic Skills
64. The U.S. economy today consists of a 70–30 services-to-goods mix.
Answer: True Page: 6 Difficulty: Medium
65. “Friends Don’t Let Friends Drive Drunk,” is an example of marketing an experience to an interested audience.
Answer: False Page: 7 Difficulty: Hard AACSB: Reflective …show more content…
Unwholesome demand occurs when consumers’ purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.
Answer: False Page: 8 Difficulty: Hard AACSB: Analytic Skills
67. When consumers share a strong need that cannot be satisfied by an existing product, they are engaged in latent demand.
Answer: True Page: 8 Difficulty: Medium
68. Companies selling goods and services in the global marketplace have the advantage of being able to sell the goods and services in almost the same way as they do in their domestic market.
Answer: False Page: 10 Difficulty: Easy AACSB: Multicultural/Diversity
69. Companies selling their goods to nonprofit organizations may charge an extra premium over their normal prices because these organizations are largely indifferent to price.
Answer: False Page: 10 Difficulty: Medium AACSB: Reflective Thinking
70. A marketspace is physical, as when you shop in a store.
Answer: False Page: 10 Difficulty: Medium AACSB: Use of IT
71. Wants are basic human requirements such as food or air.
Answer: False Page: 12 Difficulty:
Answer: d Pages: 29-30 Difficulty: Medium AACSB: Communication
60. Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.
a. control
b. analysis
c. measurement
d. retrospective
e. consumer behavior
Answer: a Page: 30 Difficulty: Medium AACSB: Analytic Skills
True/False
61. A short definition of marketing is “meeting needs profitably.”
Answer: True Page: 5 Difficulty: Easy AACSB: Analytic Skills
62. Value marketing is the “art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.”
Answer: False Page: 5 Difficulty: Medium
63. Services constitute the bulk of most countries’ production and marketing effort.
Answer: False Page: 6 Difficulty: Medium AACSB: Analytic Skills
64. The U.S. economy today consists of a 70–30 services-to-goods mix.
Answer: True Page: 6 Difficulty: Medium
65. “Friends Don’t Let Friends Drive Drunk,” is an example of marketing an experience to an interested audience.
Answer: False Page: 7 Difficulty: Hard AACSB: Reflective …show more content…
Unwholesome demand occurs when consumers’ purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.
Answer: False Page: 8 Difficulty: Hard AACSB: Analytic Skills
67. When consumers share a strong need that cannot be satisfied by an existing product, they are engaged in latent demand.
Answer: True Page: 8 Difficulty: Medium
68. Companies selling goods and services in the global marketplace have the advantage of being able to sell the goods and services in almost the same way as they do in their domestic market.
Answer: False Page: 10 Difficulty: Easy AACSB: Multicultural/Diversity
69. Companies selling their goods to nonprofit organizations may charge an extra premium over their normal prices because these organizations are largely indifferent to price.
Answer: False Page: 10 Difficulty: Medium AACSB: Reflective Thinking
70. A marketspace is physical, as when you shop in a store.
Answer: False Page: 10 Difficulty: Medium AACSB: Use of IT
71. Wants are basic human requirements such as food or air.
Answer: False Page: 12 Difficulty: