question

What are the elements of the marketing mix?

answer

The marketing mix is comprised of the product, price, place and promotion.

question

Which of the following can be marketed?

answer

Goods and services, people, places, and ideas

question

Historically, the original approach to marketing was as a ____ concept.

answer

Production

question

he triple-bottom-line orientation that has, in recent years, become a marketing process to improve the organization's capability to offer quality is based on ____________________ bottom lines.

answer

financial, social, and environmental

question

When a firm or marketing organization offers customers a superior value and capability that other competitors cannot match, it has a ____________.

answer

distinctive competency through the value chain

question

The first element in the value chain an organization offers customers is the ____________________.

answer

inbound logistics

question

A ___________ is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

answer

market segment

question

The marketing plan is a document that describes the organization's assessment of several elements of the market environment and one element of its competitive advantage, which includes _________________.

answer

the organization's capabilities

question

Possession utility is the benefit marketing provides by __________.

answer

allowing the consumer to own, use, and enjoy the product

question

The segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts is the __________.

answer

Target Market

question

The benefit marketing provides by transforming raw materials into finished products is known as __________ utility.

answer

form

question

In a __________ orientation, management moves products out of warehouses so that inventories don't pile up.

answer

selling

question

Form utility is the benefit marketing provides by __________.

answer

transforming raw materials into finished products

question

Which of the following describes a selling orientation approach to marketing?

answer

Management moves products out of warehouses so that inventories don't pile up.

question

The target market is __________.

answer

the segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts

question

__________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product.

answer

possession

question

Which of the following best defines marketing?

answer

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large

question

Which of the following is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large?

answer

Marketing

question

In a consumer orientation, management __________.

answer

prioritizes the satisfaction of customers' needs and wants

question

Management prioritizes the satisfaction of customers' needs and wants in a __________ orientation.

answer

consumer

question

What is a mass market?

answer

All possible customers in a market, regardless of the differences in their specific needs

question

A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased is known as the __________.

answer

value proposition

question

All possible customers in a market, regardless of the differences in their specific needs, are known as a __________.

answer

mass market

question

Which orientation is described as the building of long-term bonds with customers rather than merely selling them stuff?

answer

Triple-bottom-line

question

What is the value proposition?

answer

A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased

question

With regard to the marketing mix, how is place defined?

answer

The availability of the product to the customer at the desired time and location

question

What is shrinkage?

answer

Inventory and cash losses resulting from shoplifting and employee theft

question

Which of the following best describes triple-bottom-line orientation?

answer

The building of long-term bonds with customers rather than merely selling them stuff

question

Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members are known as __________.

answer

social networking

question

A __________ is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced.

answer

want

question

What is crowdsourcing?

answer

A practice where firms outsource marketing activities (such as selecting an ad) to a community of users

question

The availability of the product to the customer at the desired time and location is known as __________.

answer

place

question

Product, price, promotion, and place make up the __________.

answer

marketing mix

question

A want is __________.

answer

a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced

question

What is total quality management (TQM)?

answer

A management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement

question

Distinctive competency is a(n) __________.

answer

firm's capability that is superior to that of its competition

question

What is a market segment?

answer

distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market

question

Which of the following is a practice where firms outsource marketing activities (such as selecting an ad) to a community of users?

answer

Crowdsourcing

question

What is social networking?

answer

Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members

question

What is a marketing strategy that supports environmental stewardship, thus creating a differential benefit in the minds of consumers?

answer

Green marketing

question

What is the term for inventory and cash losses resulting from shoplifting and employee theft?

answer

shrinkage

question

What are services?

answer

Intangible products that consumers pay for but never own

Marketing 3350 Chapter 1 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards