2024 – Section A True or False 1 Marketing is just another cost of doing business 2

Section A-True or False?

1.     Marketing is just another cost of doing business.

 

2.     Marketing is inherently unethical and harmful to society.

 

3.     Business is confined to a company’s local market

 

4.     Value is a ratio of benefits to costs, as viewed from the eyes of the beholder

 

5.     Value proposition is the firm’s communication of the unique value of its products to its competitors?

6.     The process of measuring marketing results and adjusting the marketing plan as needed is called market control.

7.     The Business Market Purchase Decision Process entails all of the following

·       Define the Need and Product Specifications

·       Request for Proposal (RFP)

·       Search for Suppliers

·       Seek Sales Proposals in Response to RFP

    

8.     Segmentation seeks to find just one factor about members of a heterogeneous market that allow for dividing of the market into smaller, more homogeneous subgroups?

 

9.     Co-branding joins two or more well-known brands in a common product or takes two brands and markets them in partnership.

 

10.  Personal selling is a three-way communication process between salesperson and buyer with the goal of securing, building, and maintaining long term relationships with profitable customers.

 

 

Section B-Elaborate and provide Details for this section

11.  What are three distinct advantages Personal selling has over other marketing communications methods?

12.  What is the difference between a Pull and a Push Strategy

 

 

13.  Expound on Electronic Commerce versus Electronic Retailing.

 

 

14.  What is a channel of distribution?

 

15.  Explain channel conflict

  

16.  What is Channel Power

 

17.  What are the 3 major activities in new product development

 

18.  What are the social factors that affecting consumer choices

 

 

19.  List four  misconceptions about Marketing