question

marketing is the process of

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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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the focal point of all marketing activities is

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customers

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

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how they satisfy their customers

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The definition of marketing implies that ______ should receive benefits from exchange relationships.

answer

both customers and businesses

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

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the price charged for the product

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A target market

answer

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

question

Kashi Heart to Heart TM cereal is aimed at people concerned about their heart health. These people represent the Kashi

answer

target market

question

SunnyD is aimed at mothers with children under age twelve. These mothers represent SunnyD's

answer

target market

question

Distribution, price, promotion, and product are all elements of

answer

the marketing mix

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A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

answer

Product, price, distribution, and promotion variables

question

the marketing mix is built around

answer

the customer

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Marketing managers strive to develop a marketing mix that

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matches the needs of the target market.

question

The product variable of the marketing mix can include all of the following except

answer

consumer perception of the product price.

question

The three basic forms that a product can take are

answer

services, ideas, and goods

question

A physical product you can touch is a

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good

question

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

answer

service

question

Which of the following companies is the best example of a service marketer? A) FedEx b) Sony c) Abercrombie & Fitch d) The Democratic Party e) General Electric

answer

fedEx

question

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets

answer

ideas

question

The Church of the Latter Day Saints has used advertising for many years to market its

answer

ideas

question

Which of the following is most likely to be an idea marketer? a) Car salesperson b) Airline pilot c) Attorney d) Abuse counselor e) Orthodontist

answer

abuse counselor

question

Deciding to add gel insoles to its running shoes would be a change in the _____ element of the marketing mix for Nike. a) price b) good c) product d) promotion e) distribution

answer

product

question

Making modifications to packaging or brand names involves the _____ component of the marketing mix.

answer

product

question

Issues of inventory levels and storage costs are both concerns relating to the _____ variable of the marketing mix.

answer

distribution

question

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

answer

the best way to distribute his products

question

Consumers buying products online have dramatically affected the ___________ variable of the marketing mix.

answer

distribution

question

Changing the hours of operation for a service business involves the _____ component of the marketing mix.

answer

distribution

question

Which of the following scenarios involves the distribution element of the marketing mix? a) Deciding whether or not a certain product should continue to be sold b) Determining whether an advertising message would be more effective on television or in magazines c) Choosing between a company jet or the airlines for executive travel d) Deciding whether or not to have retail outlets in addition to a website e) Developing a new warranty policy for an existing product

answer

Deciding whether or not to have retail outlets in addition to a website

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

answer

promotion

question

When DuPont develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?

answer

promotion

question

Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ______ marketing tool.

answer

promotional

question

When DataComp Corp., a producer of computer software, delayed the introduction of its new spreadsheet program to modify the package, its scheduled magazine advertisements announcing the new product needed to be revised. In this case, a change in the ___________ variable caused changes in the ___________ variable of the marketing mix.

answer

product; promotion

question

Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?

answer

competition

question

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

answer

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

question

For an exchange to occur, four conditions must exist: first, two or more individuals, groups, or organizations must participate, and each must possess "something of value" that the other desires; second, the exchange must provide a benefit or satisfaction to both parties; third, each must have confidence in the promise of the "something of value" held by the other; and fourth,

answer

to build trust, parties to the exchange must meet expectations.

question

Mark goes to a vending machine, deposits $1.00, and receives a Sprite. Which one of the following aspects of the definition of marketing is illustrated here?

answer

exchange

question

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

answer

satisfaction for both buyer and seller

question

Which is the following statements about marketing forces is correct?

answer

They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products.

question

the forces of the marketing environment include

answer

political, legal and regulatory, sociocultural, technological, economic, and competitive.

question

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ___________ that influence(s) the firm's strategy.

answer

marketing environment

question

A change in the minimum drinking age in any given state illustrates a change in the ___________ for Miller Brewing.

answer

marketing environment

question

StarKist Tuna announced a dolphin-safe policy and stopped buying tuna from fishing vessels that net dolphins. This decision indicates a response to concerns about

answer

marketing envrionment

question

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

answer

government relations

question

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they

answer

affect a marketing manager's decisions and actions by influencing buyer's reactions to the firm's marketing mix.

question

The marketing environment is best described as being

answer

dynamic and changing

question

the marketing concept is best described as

answer

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

question

According to the marketing concept, an organization should try to

answer

provide products that satisfy customer's needs and allow the organization to achieve its goals.

question

The marketing concept is a management philosophy that affects

answer

affects all efforts of the organization

question

The marketing concept focuses on

answer

satisfying customers' needs in a way that helps to achieve organizational objectives.

question

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

answer

achieve the organizations

question

Which one of the following statements by a company president best reflects the marketing concept?

answer

We have organized our business to make certain that customers get what they want.

question

the marketing concept affects

answer

all organizational activities

question

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?

answer

marketing concept

question

The Jackson Hewitt company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision, it should adopt which of the following philosophies?

answer

the customer is always right

question

the marketing concept is

answer

a management philosophy

question

As the Industrial Revolution came to the United States, most firms operated in a(n) ___________ orientation.

answer

production

question

During the Industrial Revolution demand for manufactured goods was

answer

strong

question

From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ______ orientation.

answer

sales

question

U.S. Electric, the maker of a highly innovative xenon light bulb, finds that it has excess inventory. The firm increases its advertising budget by 50 percent and doubles its sales staff. This company is operating as if it were in which of the following orientations?

answer

sales

question

American Express implements a program of calling its current cardholders to find out what changes they would like to see in the services provided. The firm is exhibiting characteristics associated with which of the following orientations?

answer

market

question

A market orientation is an organization-wide effort that includes all of the following activities except

answer

focusing on the marketing department only

question

Which of the following best describes the acceptance of the marketing concept by American organizations?

answer

The marketing concept has yet to be fully accepted by all organizations.

question

Which of the following is not an example of the implementation of the marketing concept? a) Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork. b) Mar's Candy asks customers to vote online for a new color for its Mars candy. c) Burger King reduces the labor costs to produce its sausage-egg biscuits. d) Microsoft offers rewards for users who can find flaws in its new software. e) Saab introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.

answer

Burger King reduces the labor costs to produce its sausage-egg biscuits.

question

Health Care Systems, Inc. rolls out an innovative nurse-on- call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

answer

an information system to determine customers needs

question

When Wonder introduced a new bread made with white whole wheat in response to customer demand, it was following which of the following philosophies?

answer

marketing concept

question

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

answer

relationship marketing

question

A junior marketing executive at MegaGrain Cereals suggests increasing the package size and price of its best-selling brand without increasing the amount of cereal inside the box. Her superior warns that this might be a bad idea because MegaGrain's long-term survival, like most companies, depends on

answer

creating and maintaining satisfying exchange relationships

question

In managing customer relationships, the three primary ways profits can be obtained are by

answer

enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

question

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

answer

information

question

Long-term relationships with profitable customers is the key objective of

answer

customer relationship management

question

Managing customer relationships requires identifying patterns of ___________ and then using that information to focus on the most promising and profitable customers.

answer

buying behavior

question

Marketing consists primarily of selling and advertising.

answer

false

question

The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments.

answer

false

question

Customers are the focal point of all marketing activities.

answer

true

question

A family that organizes and advertises a garage sale is performing marketing activities.

answer

true

question

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

answer

true

question

Target markets can be people who buy the product but do not necessarily use the product.

answer

true

question

The marketing mix consists of three major variables: product, price, and distribution.

answer

false (4)

question

Products can be goods, services, or ideas.

answer

true

question

Services are provided by applying human and mechanical efforts to people or objects.

answer

true

question

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

answer

true

question

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

answer

false

question

The marketing concept is a management philosophy, not a second definition of marketing.

answer

true

question

Marketing costs consume about one-half of a buyer's dollar.

answer

true

question

Approximately 20 percent of civilian employees in this country perform marketing activities.

answer

(25-33)

mktg 351 chapter 1 – Flashcards

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