82) When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Answer: FALSE Page Ref: 6 83) Only sellers of products, services, and ideas practice marketing; buyers do not. Answer: FALSE Page Ref: 8 84) Market segmentation is the process of seeking customers and reduced demand for profit maximization only. Answer: FALSE Page Ref: 9 85) Demarketing is a marketing philosophy focused upon product differentiation and positioning. Answer: FALSE Page Ref: 9 86) When it becomes necessary to reduce demand for a product or service, an organization may use demarketing to reduce or shift the number of customers. Answer: TRUE Page Ref: 9 87) The production concept and product concept are orientations that can lead to marketing myopia. Answer: TRUE Page Ref: 9-10 88) The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort. Answer: TRUE Page Ref: 10 89) Amy's law office has developed a new format and wording for wills. The staff believes they offer the most in quality, performance, and innovative features. Her law office is practicing the production concept. Answer: FALSE
82) When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Answer: FALSE Page Ref: 6 83) Only sellers of products, services, and ideas practice marketing; buyers do not. Answer: FALSE Page Ref: 8 84) Market segmentation is the process of seeking customers and reduced demand for profit maximization only. Answer: FALSE Page Ref: 9 85) Demarketing is a marketing philosophy focused upon product differentiation and positioning. Answer: FALSE Page Ref: 9 86) When it becomes necessary to reduce demand for a product or service, an organization may use demarketing to reduce or shift the number of customers. Answer: TRUE Page Ref: 9 87) The production concept and product concept are orientations that can lead to marketing myopia. Answer: TRUE Page Ref: 9-10 88) The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort. Answer: TRUE Page Ref: 10 89) Amy's law office has developed a new format and wording for wills. The staff believes they offer the most in quality, performance, and innovative features. Her law office is practicing the production concept. Answer: FALSE
Ch01%20Marketing%20Creating%20and%20Capturing%20Customer%20Value.docx