Concept Checks for Ch. 1 – Flashcards

The film clips presented in class contrasting Ford and GM illustrate two firms that clearly were practicing dramatically different 'business philosophies.' The philosophy illustrated by Ford was the marketing concept, while the philosophy illustrated by GM was the production concept. T or F?

"A total system of business activities designed to plan, price, promote, and distribute want-satisfying products to target markets to achieve organizational objectives" is the text's definition of:

Anything that provides a bundle of tangible or intangible characteristics or attributes geared toward satisfying customers' wants and needs best defines ____________ .

A manufacturer sells its products to wholesalers. These wholesalers then resell the products to retailers in the geographic areas in which they operate. You and I then buy these products from one or more of these retailers. This 'link' between producers on one end and consumers on the other is typically referred to as the:

When bread is baked,____________ utility is created.

Although many activities are essential to a company's growth, marketing is the only one that directly produces revenue. T or F?

Probably the most critical 'premise' of the marketing concept is:

Barbara has opened a small business. She is selling a bottled mixture of hot and mild peppers, stuffed green olives and spices. The product is distributed by mail. So far, no promotion other than word-of-mouth has been needed. For only $4.75, you can buy a pint jar of the mixture that you can use on everything from chili to Chinese food. The preceding describes the ______________ for Barbara's company.

To which element of the marketing mix do branding and labeling decisions relate most closely?

To which element of the marketing mix do personal selling and advertising decisions relate most closely?

Manufacturers in the _______________________ stage typically focus on increasing output while assuming that customers will seek out and buy reasonably priced, well-made products.

Bates Manufacturing produces some of the finest furniture in North Carolina. Buyers world-wide attend furniture shows to view Bates' newest creations. Last year, management increased its production capacity by almost 20 percent, assuming that increased capacity would lead to substantial cost reductions that would allow Bates to further lower its prices. Management assumed that buyers choose its furniture due to its high quality and reasonable prices. Bates Manufacturing is acting as if it is in the _____________ stage of marketing thought.

With relationship marketing a company is hoping to establish a feeling of goodwill with its customers, suppliers, employees, and competitors as well as a sense that the firm cares about more than making a sale. T or F?

Which of the following statements best reflects the adoption of the societal marketing concept by a manufacturer of disposable diapers?

Wilson Farms grows some of the finest strawberries in Florida. Customers come from miles away to pick its succulent berries. Last year, its owner increased its production ability by almost 50 percent. The farm owner assumed that customers would pick Wilson Farms' strawberries because the berries were of good quality and reasonably priced. Andover Farms is acting as if it is in the product-orientation stage of marketing thought. T or F?

Nationwide Cars sells pre-owned cars. Its salespersons are expected to do whatever is necessary to reach their sales quotas. Aggressive selling is required for success, and unethical sales tactics, such as selling features that customers do not really need, are tolerated. Nationwide is being operated as if it is at the ____________ stage of marketing thought.

Air conditioning systems that are manufactured in December will be stored until customers are ready to buy them in the Spring. The act of storing these systems creates ________ utility for customers.

Every morning Pete buys a newspaper from the vending machine located just outside of his office building. The vending machine creates form and time utility. T or F?

Credited to GE's CEO in the 1950's. Build a better mousetrap. customers must be persuaded to buy products. A product may be demarketed because it is harmful.

Which of the following best reflects the concept of 'exchange' in marketing?

Which of the following 'utilities' is least likely to be created solely by the marketing function in the firm?

Attaching an attractive life style to a product via advertising is generally an attempt to create ____________ utility.

The combination of product, price, promotion, and distribution is generally referred to as _____________.

A measure or expression of the value (in terms of money, goods, or services) of a good or service is most closely associated with which component of the marketing mix?

A good, service, or idea that offers a bundle of tangible and intangible attributes to satisfy customers' wants & needs is most consistent with which element of the marketing mix ?

The use of premiums illustrated in the TWIP commercial for breakfast cereal illustrates an application of the _______ component of the promotion mix.

The definition of the marketing concept, in contrast to the definition of marketing

The emergence of the selling concept as a philosophical alternative to the production concept was primarily the result of