CA-1 – Flashcard

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Refers to the benefits a customer receives from purchasing a good or service
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Value
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Marketers first identify consumer needs and then provide products that satisfy those needs. This practice (management philosophy) is referred to as
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The Marketing Concept
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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
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Share of Mind
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Which products to market to which consumers without turning off other consumers
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Which of the following is a major marketing decision for mot companies
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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
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Marketing
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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.
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The product's differential benefits
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Buyers, sellers, investors, and community residents are all considered_____ in a company
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Stakeholders
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Which of the following is part of the product element of the marketing mix
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The packaging
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the financial bottom line, the social bottom line, and the environmental bottom line
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Which of the following lists the three components of the triple bottom line orientation
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Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers
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green marketing
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Which of the following is the industry term for inventory and cash losses from shoplifting and employee theft
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shrinkage
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A __________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.
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value proposition
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Which element of the marketing mix is most closely associated with a company's supply chain
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place
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In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following
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sustainability
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Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of a
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time
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In which kind of market would a production orientation be most successful
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a seller's market in which demand is greater than supply
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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
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market segment
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When a gap exists between a consumers' actual state and some ideal or desired state, the consumer has a
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need
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Which of the following is a true statement about the Four Ps of the marketing mix
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a decision about one of the Ps will most likely require adjustments in every other component of the marketing-mix decision
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The Four Ps are ___________
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price, product, place, and promotion
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The direct financial impact of a firm's expenditure on marketing activities is called the_____
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return on investment (ROI)
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A ______ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts
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target market
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A customer's desire for a product coupled with the buying power or resources to obtain that product is called a____
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demand
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Which of the following is a current business trend
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integrating marketing with other business functions
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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 _________.
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selling orientation
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