CA-1 – Flashcard
Unlock all answers in this set
Unlock answersquestion
Refers to the benefits a customer receives from purchasing a good or service
answer
Value
question
Marketers first identify consumer needs and then provide products that satisfy those needs. This practice (management philosophy) is referred to as
answer
The Marketing Concept
question
The internet has created a paradigm shift for businesses, moving us toward an attention economy in which a company's success will be measured by its
answer
Share of Mind
question
Which products to market to which consumers without turning off other consumers
answer
Which of the following is a major marketing decision for mot companies
question
Is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
answer
Marketing
question
A new shampoo advertisement on television tells all of the wonderful benefits the consumer will enjoy using one company's shampoo as opposed to another shampoo.
answer
The product's differential benefits
question
Buyers, sellers, investors, and community residents are all considered_____ in a company
answer
Stakeholders
question
Which of the following is part of the product element of the marketing mix
answer
The packaging
question
the financial bottom line, the social bottom line, and the environmental bottom line
answer
Which of the following lists the three components of the triple bottom line orientation
question
Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers
answer
green marketing
question
Which of the following is the industry term for inventory and cash losses from shoplifting and employee theft
answer
shrinkage
question
A __________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.
answer
value proposition
question
Which element of the marketing mix is most closely associated with a company's supply chain
answer
place
question
In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following
answer
sustainability
question
Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of a
answer
time
question
In which kind of market would a production orientation be most successful
answer
a seller's market in which demand is greater than supply
question
A _______ is a distinctive group of customers within a larger market who are similar to one another is some way and whose needs differ from other customers in the larger market
answer
market segment
question
When a gap exists between a consumers' actual state and some ideal or desired state, the consumer has a
answer
need
question
Which of the following is a true statement about the Four Ps of the marketing mix
answer
a decision about one of the Ps will most likely require adjustments in every other component of the marketing-mix decision
question
The Four Ps are ___________
answer
price, product, place, and promotion
question
The direct financial impact of a firm's expenditure on marketing activities is called the_____
answer
return on investment (ROI)
question
A ______ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts
answer
target market
question
A customer's desire for a product coupled with the buying power or resources to obtain that product is called a____
answer
demand
question
Which of the following is a current business trend
answer
integrating marketing with other business functions
question
Jolene's firm markets pre-planning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she much somehow first get their attention. Jolene's firm most likely uses the _________.
answer
selling orientation
