1.
The marketing management process consists of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans.
2.
Strategic (management) planning is a managerial process of developing and maintaining a match between the resources of the production department and its product opportunities.
3.
Marketing strategy planning is the process of deciding how best to sell the products the firm produces.
4.
A marketing strategy specifies a target market and a related marketing mix.
5.
A target market consists of a group of consumers who are usually quite different.
6.
A marketing mix consists of the uncontrollable variables which a company puts together to satisfy a target market.
7.
Target marketing aims at a marketing mix at some specific target customers.
8.
The mass marketing approach is more production-oriented than marketing-oriented.
9.
The term "mass marketing" and "mass marketer" mean the same thing.
10.
The problem with target marketing is that it limits the firm to small market segments.
11.
The four "Ps" are Product, Promotion, Price, and Personnel.
12.
The customer should not be considered part of the "marketing mix."
13.
The Product area is concerned with developing the right physical good service or blend of both for the target market.
14.
A channel of distribution must include several kinds of intermediaries and collaborators.
15.
Customer service is needed when a customer wants the seller to resolve a problem with a purchase.
16.
Personal selling and advertising are both forms of sales promotion.
17.
Price is the most important of the four "Ps."
18.
The marketing mix should be set before the best target market is selected.
19.
A marketing plan and a marketing strategy mean the same thing.
20.
Implementation means putting the marketing plan into operation.
21.
Short-run decisions that stay within the overall guidelines set during strategy planning are called implementation decisions.
22.
A marketing program may consist of several marketing plans.
23.
A marketing program should lower customer equity.
24.
An extremely good marketing plan may be carried out badly and still be profitable, while a poor but well-implemented plan can lose money.
25.
The watch industry has become much more marketing-oriented.