False and True _____________ 1. Products have tangible attributes only. ________
ID: 449725 • Letter: F
Question
False and True
_____________ 1. Products have tangible attributes only.
_____________ 2. The marketing concept holds that delivering unmatched value to customers is the only effective way to achieve long-term profitability.
_____________ 3. Stray Rescue is a nonprofit organization. Since the organization is not profit driven, it has no need to focus on marketing.
_____________ 4. Companies use event marketing when they sponsor sporting, cultural, or charitable events.
_____________ 5. The marketing concept was a business philosophy that arose in the era of mass production when it became necessary for firms to use “hard sell” techniques to convince customers to buy products that they didn’t really want.
_____________ 6. Demographic market segmentation is based on measurable characteristics of potential customers, such as age, education, income, ethnicity, and gender.
_____________ 7. Market research involves gathering, interpreting, and applying information to uncover opportunities and challenges for business.
_____________ 8. Secondary data is existing data that marketers gather about purchasing behavior.
Explanation / Answer
__ False____ 1. Products have tangible attributes only.
Products can also be a service which has intangible attributes.
__True_______ 2. The marketing concept holds that delivering unmatched value to customers is the only effective way to achieve long-term profitability.
A successful marketer delivers value by filling customer needs in ways that exceed their expectations. As a result, you get sales today and sales tomorrow and sales the next day, which—across the days and months and years—can translate into long-term profitability
______ False ____3. Stray Rescue is a nonprofit organization. Since the organization is not profit driven, it has no need to focus on marketing.
Non-profit organizations have started to adopt business-like techniques used in the for-profit sector as they are becoming increasingly confronted with market pressures typical of for-profit organizations, like competition for funding and the need to earn money to fulfil their mission
______ True ______4. Companies use event marketing when they sponsor sporting, cultural, or charitable events.
For many years sponsorship and sports marketing have been in existence and has now been greatly improved upon. Hardly can organizers of major events expect to receive some funds without expecting to give something back in return. A couple of years ago, sponsorship could be regarded has more charitable or philanthropic, but in recent years, that has changed significantly
_______ True ______ 5. The marketing concept was a business philosophy that arose in the era of mass production when it became necessary for firms to use “hard sell” techniques to convince customers to buy products that they didn’t really want.
The Industrial revolution was the major impetus for changes in marketing concepts
________ True _____6. Demographic market segmentation is based on measurable characteristics of potential customers, such as age, education, income, ethnicity, and gender.
Demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers more accurately.
_______ True ______ 7. Market research involves gathering, interpreting, and applying information to uncover opportunities and challenges for business.
Market research - The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
______ True _______ 8. Secondary data is existing data that marketers gather about purchasing behavior.
Secondary data - Existing data that marketers gather or purchase for a research project
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