Test Bank For Marketing Strategy & Management Diane M. Phillips Chapter 1-13
Chapter 1: Setting the stage: The purpose and promise of marketing 1. The concept of marketing myopia was first described in a famous article under the same title written by ______. a. Dale Carnegie b. Tyler Levitt c. Theodore Levitt d. Philip Kotler Ans: C Marketing myopia was first described in a revolutionary 1960 article by Theodore Levitt published in the Harvard Business Review (HBR). He argued that many companies incorrectly take a short-sided approach to the market, viewing marketing merely as a tool for selling products. Instead, he emphasized the importance of focusing on satisfying customers’ needs. 2. Which of the following statements about the concept of ‘marketing myopia’ is correct? a. Marketing myopia represents the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and the society at large. b. Marketing myopia refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. c. Marketing myopia is a short-sighted focus on selling products and services, rather than a ‘big picture’ focus on what consumers want.