Which of the following is the best definition for marketing?
A) Marketing is an organizational function and a set of business activities designed to make profits.
B) Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
C) Marketing is a business function and a process for determining the value customers desire in order to gain profit for business organizations and to seek societal benefits through nonprofit marketing.
D) Marketing is finding a hole and filling it while earning profitable dollars.
E) Marketing is the result of the equilibrium of supply, demand, marginal cost, and marginal revenue.
Answer: B
MKT 3413 Chapter 1
- Ad hoc is a Latin word, meaning ________.
- Which MIS subsystem is also called a DSS?
- Marketing research conducted on the popular TV program Seinfeld, starring Jerry Seinfeld, was used to illustrate:
- What is the purpose of the "internal reports system" subsystem of the marketing information system?
- Which of the following marketing information subsystems gathers information about events and happenings "outside" the firm?
- What is the purpose of the "marketing intelligence system" subsystem of the marketing information system?
- Which of the following marketing information subsystems is NOT continuous?
- Which of the following is an example of a study whose goal is to find opportunities or to identify problems with an existing strategy?
- Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?
- The difference between basic research and applied research is that basic research is conducted to:
- Which of the following deals with the role of MIS?
- Which of the following is NOT one of the subsystems of the marketing information system?
- Which of the following is the best definition of marketing research? Marketing research is:
- Which of the following products was actually a failure after marketing research predicted it would be successful?
- Market research refers to________.
- Which of the following is the best statement reflecting the purpose of marketing research?
- When everyone saw the music industry facing a terrible decline due to pirating of songs on the Internet, Apple saw an opportunity for iTunes. This example illustrates which use of marketing research?
- The key reason that the marketing concept has been recognized as the "right philosophy" is that it:
- What would a strategy "that allows a firm to truly meet the wants and needs of the consumers within the market segment that is chosen" be called?
- In order to develop the "right strategy" to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely:
- Which of the following is most accurate?
- According to the AMA definition of marketing, which of the following is true of marketing?
- What does the phrase "hearing the voice of the consumer" mean?