According to the American Marketing Association's definition of marketing, which of the following statements is true?
A. The focus of production-driven companies is on developing and sustaining relationships with their customers.
B. Though marketing plays an important role in developing relationships with customers, it does not help in maintaining them.
C. By definition, a marketing transaction has to involve the exchange of money.
D. Successful companies recognize that creating and delivering value to their customers is extremely important.
E. Most marketers are seeking a one-time exchange or transaction with their customers.
Answer: D
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A market research study of soft drink consumption and distribution in Hungary commissioned by an American company indicated that soft drinks were available in drugstores. However, Western-style drugstores do not exist in Hungary. This illustrates an important issue in global marketing research, namely:
A) inflated data. B) using convenience samples. C) market estimation by analogy. D) comparability of data. E) using multiple dimensional scaling.
In terms of chronemics, describe the differences between monochronic cultures and polychronic cultures. What areas of the world are considered monochromic, and which are polychromic?
What will be an ideal response?
Pacific Whale Corporation reported the following information for 2011 and 2012: Accounts receivable, December 31, 2011 $122,000 Accounts receivable, December 31, 2012 113,000 Sales (all on credit)--2012 850,000 How much cash was received from customers during 2012?
A) $972,000 B) $841,000 C) $859,000 D) $963,000
Which of the following statements is FALSE with respect to supplier phase out?
a. Phasing out suppliers is costly and can disrupt the operations of both the buying and selling firms. b. The decision to switch to a new supplier should be made after careful consideration. c. A buying organization should include exit clauses in the contract to ensure that penalties for early contract termination are avoided. d. Phasing out suppliers is relatively easy and inexpensive.