question

marketing

answer

creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment

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customers

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the focal point of all marketing activities

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how they satisfy customers

answer

organizations should define themselves not according to the products they produce but according to

question

both customers and businesses

answer

should receive benefits from exchange relationships according to the definition of marketing

question

the price charged for the product

answer

the primary value that a marketer expects to receive from a customer in an exchange relationship

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target market

answer

a specific group of customers on whom a company focuses its marketing efforts

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marketing mix

answer

distribution, price, promotion, and product are all elements of this

question

customer

answer

the marketing mix is built around what?

question

matches the needs of the target market

answer

marketing managers strive to develop a marking mix that

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product variable of the marketing mix

answer

creation of brand names, development of product packaging, warranty issues, and repair services

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services, ideas, and goods

answer

the three basic forms that a product can take

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good

answer

a physical product that you can touch is a

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service

answer

the application of mechanical and human efforts to either people or objects to provide intangible benefits to customers

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abuse counselor

answer

which of the following is most likely to be an idea marketer? car salesperson, airline pilot, attorney, abuse counselor, orthodontist

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product

answer

deciding to add gel insoles to its running shoes would be a change in which of the following elements of the marking mix for nike? price, good, product, promotion, distribution

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distribution

answer

issues of inventory levels and storage costs are both concerns relating to which of the following variables of the marketing mix? distribution, product, exchange, price, promotion

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promotion

answer

the element of the marketing mix used to increase awareness of a product or company

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competition

answer

marketers often speak of the "controllable" variables in the practice of marketing. which of the following is not considered one of the controlled variables? product, price, distribution, competition, promotion

question

exchange

answer

provision or transfer of goods, services, or ideas in return for something of value

question

satisfaction for both the buyer and seller

answer

marketing facilitates exchange relationships between buyers and sellers. what is marketing's intended outcome for this relationship?

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the forces of the marketing environment

answer

political, legal and regulatory, sociocultural, technological, economic, and competitive the forces change dramatically and quickly, and a change in one force is likely to affect the other forces

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government regulations

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which of the following is essential an uncontrollable factor in developing a marketing mix? product adaptations, pricing strategies, government regulations, advertising campaigns, retail locations

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dynamic and changing

answer

the marketing environment is best described as being

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marketing concept

answer

a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allowed the organization to achieve its goals

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achieve the organization's goals

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the marking concept is a philosophy that states that an organization should try to satisfy customers' needs and also

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all organizational activities

answer

the marketing concept affects (choose one) just the marketing department all organizational activities only marketing and finance only production and marketing few decisions in an organization

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production

answer

as the industrial revolution came to the united states, most firms operated in what orientation?

question

strong

answer

during the industrial revolution demand for manufactured goods was

question

sales

answer

from the 1920s to the 1950s, demand for manufactured goods decreased, leading to what orientation?

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market orientation

answer

an organization-wide effort that includes researching customers' needs, generating marketing intelligence for use in the organization, being responsive to customers' ever-changing wants and needs, and disseminating marketing intelligence across departments within the organization

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relationship marketing

answer

establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges

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information

answer

customer relationship management (CRM) begins its focus on customers with

question

customer relationship management

answer

long-term relationships with profitable customers is the key objective of what?

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buying behavior

answer

managing customer relationships requires identifying patterns of _________ and then using that information to focus on the most promising and profitable customers

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value

answer

a customer's subjective assessment of benefits relative to costs in determining the worth of a product

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value=customer benefits-customer costs

answer

the equation a buyer applies to assess a product's value

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monetary price

answer

customer costs include anything the buyer must give up in order to obtain the benefits the product provides. the most obvious customer cost is risk, time, monetary price, effort, availability

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effectiveness

answer

the degree to which an exchange helps achieve an organization's objectives

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efficiency

answer

refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges

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marketing unit

answer

functions, products, regions, types of customers, or a combination of all four organizes what?

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implementation

answer

the part of marketing plans that hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the marketing unit

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marketing control

answer

the process of establishing performance standards, competing actual performance with established standards, and reducing the difference between desired and actual performance

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green marketing

answer

initiatives intended to improve an organization's positive impact on society and the natural environment

question

$1,000

answer

if a family spends $2,000 a month on goods and services, how much of that $2,000 goes for marketing activities?

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one half

answer

for most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

question

marketing activities

answer

used by all sizes of organizations including for-profit, nonprofit, and government agencies

question

marketing activities

answer

help sell an organization's products and general financial resources for the firm

question

marketing knowledge and skills

answer

enhance consumer awareness and help provide people with satisfying goods and services

Marketing 351 Chapter 1 – Flashcards

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