Chapter 1 and 2 quiz marketing management 📚

Which of the following best describes societal (purpose driven) marketing?

Designing marketing strategies that balance company, profits, customer, satisfaction, and long-term societal well-being

The riskiest market entry strategy is…

Direct foreign investment

In marketing, commoditization occurs:

Customers view competing products as interchangeable, leading to competition, mainly on the price

According to the boss Forbes article, how can brands rise above commoditization what is one of the most effective ways for brands to stand out when product offerings are increasingly commiditized

Emphasizing delivery and customer experience over the product its self

A company like Apple, which constantly introduced innovative, designs, and cutting edge technology is best described as following, which of the value discipline

Product leadership

The smart phone company sells the same model worldwide, but it modifies its charging ports and software features in certain countries to comply with local regulations in customer preferences

Product adaptation

A well-known luxury perfume brand introduces a new line of scented candles under the same brand name targeting customers who already enjoy this fragrance

Product extension

Why is marketing management important for businesses?

All of the above