Name three of the marketing misconceptions discussed in the text, and explain why these do not accurately describe the field of marketing.

What will be an ideal response?


The common misperceptions about marketing include:

• Catchy and entertaining advertisements-or perhaps the opposite, incessant and boring advertisements.
• Pushy salespeople trying to persuade someone to buy it right now.
• Incessant spam in your e-mail inbox and unwelcome solicitations on your smartphone.
• Obtrusive tracking and recording of your every click and browsing activity online.
• Famous brands and their celebrity spokespeople, such as Nike's athlete endorsers.
• Product claims that turn out to be overstated or just plain false, causing doubt about the trustworthiness of a company.
• Marketing departments "own" an organization's marketing initiative.

Students should be able to explain each of these in terms of why some people may believe them, but also why they do not accurately represent the field.

Business

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When a prepayment is made that is less than the full amount to completely pay off the loan, what happens to future monthly mortgage payments for a fixed-rate mortgage loan?

What will be an ideal response?

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A provision in a contract which states no damages can be recovered in the event of breach of contract is called: A) a contributory clause B) an exculpatory clause C) a waiver clause

D) a force majeur clause

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On October 12, Equipment Inc. sells $53,000 worth of equipment on account to a credit customer with credit terms of 1/10, n/30. Assume the sale is not subject to tax. Select the correct entry to record the sale on Oct 12.

A.

     
Cash 53,000  
Sales   53,000


B.
     
Accounts Receivable 53,000  
Sales Discounts   530
Sales   52,470


C.
     
Accounts Receivable 53,000  
Sales   53,000


D.
     
Sales 53,000  
Sales Discounts   530
Accounts Receivable   52,470


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