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is defined as the performance of activities that seek to accomplish an organization's objectives by anticipating customer needs and directing a flow of need-satisfying goods and services from producer to customer.

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Marketing

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Which of the following statements best describes the modern view of marketing?

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Marketing anticipates customer needs.

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Which of the following is NOT a reason for you to study marketing?

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Marketing involves actually making the goods that people need.

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The development and spread of new ideas, goods, and services for the marketplace is called:

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Innovation

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From a micro view, marketing

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is a set of activities performed by an individual organization to satisfy its customers.

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Marketing could NOT take place without:

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two or more parties who are willing to exchange something for something else.

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Marketing is NOT needed in a ______________ economy.

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pure subsistence

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Exchange between producers and consumers is more difficult in an advanced economy because of:

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All of the above

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The universal functions of marketing include buying, selling, transporting, storing,

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standardization and grading, financing, risk taking, and marketing information

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In a ____ the individual decisions of the many producers and consumers make the macro- level decisions for the whole economy.

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market-directed economy

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The text discusses the evolution of business through five "eras." Which of the following is not one of these eras?

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Diversification era.

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An organization practicing ______ aims all its efforts at satisfying its customers—at a profit.

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marketing concept

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The three basic ideas in the "marketing concept" are:

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customer satisfaction, total company effort, profit.

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Which of the following statements about customer value is true?

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Customer value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits.

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Concerning marketing ethics:

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All of the above are true.

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The marketing management process is the process of:

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All of the above.

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A "marketing program":

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blends all of a firm's marketing plans into one big plan.

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The difference between target marketing and mass marketing is that target marketing

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focuses on specific customers, while mass marketing

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The "four Ps" of a marketing mix are:

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Product, Price, Place, and Promotion

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"Product" is concerned with:

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services and physical goods . b. developing products which will satisfy some customers' needs. c. designing, packaging, and branding new products. d. All of the above might be involved.

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The ______ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted.

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Place

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The Price area of the marketing mix:

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Requires consideration of the cost of the marketing mix and the competition facing the firm when setting prices. Requires an understanding of discounts and allowances. d. Both A and C.

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The Price area of the marketing mix:

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None of the above--all contribute to one whole.

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The most important variable in a firm's marketing mix is:

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a. Product. b. Price. c. Price. d. Promotion. e. None of the above--all contribute to one whole.

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A "marketing plan":

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includes the time-related details for carrying out a marketing strategy.

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A "marketing program":

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blends several different marketing plans.

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_____ help(s) innovators develop hard-to-copy marketing strategies that will be very profitable for a long time

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Breakthrough opportunities

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_____ means that a firm has a marketing mix that the target market sees as better than a competitor's mix.

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competitive advantage

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_______ means the marketing mix is distinct from and better than what is available from a competitor.

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Differentiation

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A SWOT analysis includes:

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a. strengths. b. weaknesses. c. opportunities. d. threats. e. All of the above.

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means trying to increase sales by selling present products in new markets.

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Market development

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International opportunities should be considered by managers because:

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All of the above.

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Marketing managers should remember that there are many variables in the ____________ that affect strategy planning

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Variables in the economic, technological, competitive, cultural, social, political and legal environments affect strategy planning.

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All of the following are part of the direct market environment except:

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the technological environment.

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A mission statement

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sets out the organization's basic purpose for being.

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The __________ environment affects the number and types of competitors a marketing manager must face--and how they might.

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competitive

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In monopolistic competition,

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each competitor tries to get control in its "own" target market

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___________ ___________ are the firms that are considered to be the organization's closest challengers.

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Competitive rival.

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The economic environment

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Can change very rapidly.

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Underlying any economic environment is technology which affects

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how the economy's resources are converted to output.

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Nationalism" is an issue in the ______________ environment.

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economic

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A marketer considering a business opportunity in the U.S. health care market must first evaluate new rules and regulations originating from the ________environment.

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legal

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The languages people speak, the type of education they have, and their religious beliefs are examples of the

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cultural and social environment

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A firm's product-market screening criteria for evaluating existing plans and possible new opportunities should consider

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the objectives of top management. trends in the market environment the firm's resources.

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Between 2010 and 2025, population in the U.S. is projected to grow about _____percent.

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50

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Most Americans live in ________ areas.

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urban

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Evaluating opportunities in international markets is uniquely challenging for managers because ?

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Baby Boomers refer to the generation born from 1946 to 1964

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With regard to a firm's resources (when searching for attractive opportunities):

answer

lack of financial strength is often a barrier to entry.

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