Marketing 200 Chapter 1: Quiz – Flashcards
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The goal of the marketing exchange is that the parties to the transaction be a) close partners. b) interdependent. c) codependent. d) satisfied. e) savvy.
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D) Satisfied
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At the most basic level, marketing involves _____ between the buyer and the seller. While being better off is the goal, it is not always at the "basic" level. a) respect b) promotions c) exchanges d) persuasion e) information
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C) Exchanges
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The _____ consists of product, price, place, and promotion as components of a firm's offering. a) marketing exchange b) marketing mix c) channel of distribution d) customer franchise e) marketing plan
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B) Marketing Mix
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Dasani bottled water has created a valuable brand image with consumers. This is an integral part of the ____________ component of the marketing mix. a) price b) place c) planning d) people e) product
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E) Product
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Apple's iPad is an example of which of the following types of marketing offerings? a) Innovation b) Goods c) Services d) Ideas e) Promotions
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B) Goods
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A key attribute of services that differentiates it from a good is that a service it is ___________. a) easy to market b) valuable c) tangible d) intangible e) less expensive
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D) Intangible
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When an optical center provides eye exams and new contact lenses as its offering, it is an example of which the following combinations? a) Services and ideas b) Goods and services c) Needs and wants d) Programs and philosophies e) Tactics and strategies
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B) Goods and Services
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A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which of the following marketing offerings? a) Services b) Goods c) Ideas d) Innovations e) Promotions
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C) Ideas
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Which of the following marketing mix variables is involved in the capture of value in the marketing exchange? a) Product b) Services c) Price d) Promotion e) Place
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C) Price
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Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange? a) Product b) Price c) Promotion d) Distribution e) Place
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B) Price
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Red Box uses the _____ element of the marketing mix to make movie rentals available for customers when and where they need them. a) product b) promotion c) place d) price e) premium
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C) Place
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Which of the marketing mix variables represents all the activities necessary to get the right product to the right customer when the customer wants it? a) Procurement b) Promotion c) Place d) Price e) Product placement
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C) Place
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When marketers communicate the value proposition, it involves the _____ element of the marketing mix. a) product b) price c) promotion d) place e) policy
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C) Promotion
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When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing. a) B2B b) B2C c) C2C d) A2B e) C2B
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A) B2B
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The _____ era embraced the belief that a good product would sell itself. a) sales-oriented b) market-oriented c) value-based d) consumer-demand e) production-oriented
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E) Production- oriented
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Which of the following is one of the core practices among value-oriented marketers? a) Keep information confidential, not sharing it among the firm's different departments. b) Constantly measure benefits that customers receive against the costs of offerings. c) Maintain a transactional orientation in the seller-buyer relationship. d) Manage the relationships among employees. e) Consistently sell products below the cost of production.
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B) Constantly measure benefits that customers receive against the cost of offerings
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Recently, it has become important for value-oriented marketers to _____ with customers. a) move from a transactional orientation to a transitional perspective b) manage transactions more efficiently c) reduce the number of transactions to improve relationships d) move toward a relational perspective from a transactional orientation e) consider how they can reduce their interactions
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D) Move toward a relational perspective from a transactional orientation
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A national hotel chain engages in conversations with its customers through Facebook and even allows them to book their hotel reservations through the Facebook page. This is an example of marketing using a) mobile media. b) traditional methods. c) unethical means. d) the supply chain. e) social media.
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E) Social Media
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When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire _____ for goods and services. a) supply chain b) promotion channel c) relationship management system d) productivity metrics e) hierarchy of purchasers
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A) Supply Chain
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A firm relies on a wide variety of vendors to make and distribute its products. Manufacturers buy raw materials from suppliers, use shipping companies to transport finished goods to multiple locations, and establish relationships with the retailers who sell them to consumers. Put all these businesses together, and you have a a) marketing plan. b) supply chain. c) value proposition. d) marketing mix. e) social marketing platform.
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B) Supply Chain
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Because it has been at the center of success for many companies, marketing is considered a cornerstone of a) ethics. b) supply chains. c) entrepreneurship. d) freedom of speech. e) the gross national product.
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C) Entrepreneurship
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