Question 1 of 20 Marketing expertise is gained O only throug

Question 1 (of 20) Marketing expertise is gained O only through careful study of relevant marketing success stories. O by involvement in making marketing-related decisions every day typically through a comprehensive study of product failures O only by large firms with many years of experience; t is practically impossible for entrepreneurial start-up companies to achieve t. O most often by mentoring from experienced marketing professionals.

Solution

1. The answer is “by involvement in making marketing-related decisions every day”. When an employee makes marketing related decisions he/she gains useful insights into different concepts of marketing like market segmentation, product placement, concepts of 4Ps etc.

2. The answer is “deliver genuine value in the offerings of goods, services, and ideas marketed to customers.” As per the association marketing consists of all those activities as well as institutions that lead to delivery of value to customers.

3. The answer is “strike a balance among the sometimes different interest of these groups.” An organization has several different stakeholders and interests of all the stakeholders are different. The difference in the interests cannot always be balanced in an optimal manner.

4. The answer is “exchange something of value”. In commerce a transaction takes place only when something of value is exchanged. In the provided example the pizza has a value for Mark as it will help him satisfy his hunger.