 Show Quiz #1 Marketing Management Section E and F Date:__________________ Roll No:_____________________ Circle the correct option. 1) When backed by buying power, wants become ________. A) social needs B) demands C) physical needs D) self-esteem needs E) exchanges 2) A(n) ________ is some combination of products, services, information, or experiences offered to consumers to satisfy a need or want. A) market offering B) value proposition C) demand satisfaction D) need proposition E) evoked set 3) Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? A) selling myopia B) marketing management C) value proposition D) marketing myopia E) the product concept 4) When marketers set low expectations for a market offering, the biggest risk they run is ________. A) disappointing loyal customers B) decreasing customer satisfaction C) failing to attract enough customers D) failing to understand their customers' needs E) incorrectly identifying a target market 5) Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities. A) exchange B) marketing C) management D) production E) customer relationship management 6) Selecting which segments of a population of customers to serve is called ________. A) market segmentation B) positioning C) customization D) target marketing E) managing the marketing effort Test Prep This preview shows page 5 - 9 out of 11 pages. Question 95 / 5 ptsWhich of the following marketing management concepts is most likely to lead tomarketing myopia?customer-driven marketing conceptcustomer-driving marketing conceptsocietal marketing conceptmarketing concept Correct!product conceptQuestion 105 / 5 ptsWhen marketers set low expectations for a market offering, they run the risk of________. Get answer to your question and much more Question 115 / 5 ptsMarketing is defined as a social and managerial process by which individuals andorganizations obtain what they need and want through ________. Get answer to your question and much more manufacturing efficienciesCorrect!value creation and exchangesales and revenue creationQuestion 125 / 5 ptsIt is most accurate to say that when customers purchase products they act on ________as they judge values and costs. Get answer to your question and much more Question 135 / 5 ptsFor most marketers, customer relationship management is exclusively a matter ofcustomer data management.true Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 11 pages? Upload your study docs or become a Course Hero member to access this document What concept leads to marketing myopia?Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is a short-sighted and inward-looking approach to marketing that focuses on fulfilment of immediate needs of the company rather than focusing on marketing from consumers' point of view.
Which stage of marketing is called marketing myopia?'Marketing myopia' is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs.
What is an example of marketing myopia?Levitt used the railway industry as an excellent example of marketing myopia. The railway industry once believed that people would always rely on trains to get from A to B. But what the railroad bigwigs didn't realize was that they weren't in the railway industry, but the transportation one.
What does myopic mean in marketing?What is marketing myopia? Marketing myopia is when a business focuses on short-term marketing strategies. Over time, this can lead to reduced performance, and it's usually better to focus on long-term growth strategies. By focusing on the future, companies can adjust to customers' needs and can plan for market changes.
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Which of the following marketing management concepts is more likely to lead to marketing myopia?
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