PPT Slide
Page 8. If a company uses a marketing concept and market-oriented philosophy, consumer dissatisfaction would first result in:
a. Increased marketing expenditures
b. Modified sales presentations
c. Changed advertising campaigns
d. Revised pricing structures
e. Consumer analysis and strategy and/or product revisions
Page 15. In 1990, Encyclopedia Britannica earned more than $40 million after taxes. Just four years later, after three consecutive years of losses, the sales force had collapsed. Britannica managers saw that competitors were beginning to use CD-ROM to store huge masses of information, use less space, and reduce costs, but they chose to ignore the new computer technology. If Britannica had defined its business as providing information instead of publishing books, it might not have suffered such a precipitous fall. Encyclopedia Britannica failed to:
a. define their mission in terms of the benefits its customers seek
b. ignore the marketing concept of serving customer needs and wants
c. realize that "customers only want what they know"
d. to have a sales orientation
Page 34. By defining its business as "making movies" instead of "entertainment," a Hollywood movie studio was engaging in:
b. Product differentiation
e. Narrow business definition
Page 38. Bentley automobiles are extremely expensive and are designed to appeal to consumers who equate value and quality with price. The manufacturer of Bentley automobiles has created a(n) _____ competitive advantage.