1. A strategic error can threaten a firm's survival. (Page 14)
2. A product development strategy entails the creation of new products for present markets. (Page 16)
3. By specifying objectives and defining the actions required to attain them, you can provide in a marketing plan the basis by which actual and expected performance can be compared. (Page 20)
4. A new-product strategy links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. (Page 193)
5. The Internet is a useful tool for implementing simultaneous product development. (Page 197)
6. Despite the amount of time and money spent on developing and testing new products, a large proportion of new product introductions fail. (Page 199)
7. A relative product failure results when the product returns a profit but fails to achieve sales, profit, or market share goals. (Page 199)
8. An innovation is a product perceived as new by a potential adopter. (Page 200)
9. Retailing affects all people directly or indirectly. (Page 258)
10. First, marketers must realize that they often do not control the content on social media sites. (Page 336)
11. Customer-centric companies continually learn ways to enhance their product and service offerings. (Page 321)
12. Initial groundwork must precede communication between the potential buyer and the salesperson. (Page 322)
13. Price plays two roles in the evaluation of product alternatives: as a measure of sacrifice and as an information cue. To some degree, these are two opposing effects. (Page 357)
14. The price they set for each product depends mostly on two factors: the demand for the good or service and the cost to the seller for that good or service. (Page 361)
15. Relationship selling, or consultative selling, is a multistage process that emphasizes personalization and empathy as key ingredients in identifying prospects and developing them as long-term, satisfied customers. (Page 319)
16.
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