Marketing Management

1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. 2) When consumers share a strong need that cannot be satisfied by an existing product, it is called demand. A) negative B) latent C) declining D) irregular E) nonexistent 3) In the case of demand, consumers dislike the product and may even pay a price to avoid it. A) nonexistent B) negative C) irregular D) overfull E) declining 4) What is the traditional view of marketing? A) Firms should just focus on production because if the products are good then they will automatically sell. B) Firms should just focus on production and selling because marketing occurs as a part of the selling process. C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. D) Firms should price their products as low as possible so that marketing them becomes easy. E) Firms should remember that promotion is the most important of the four Ps. 5) With respect to core business processes, the process includes all the activities involved in developing and launching high-quality products quickly and within budget. A) market-sensing B) new-offering realization C) fulfillment management D) customer acquisition E) customer relationship management