question

After discovering consumers' needs, marketing's next task is to:

answer

translate information about consumer needs into product concepts

question

Sound and Cinema is a company that will turn an ordinary basement into a home theater. It advertises in publications that are mailed to homeowners in subdivisions where the least expensive home costs $550,000. These homeowners are the __________ for Sound and Cinema.

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Target Market

question

Beth's sorority volunteers to paint over graffiti on downtown fences. She spent last Saturday helping out, and felt satisfied because she was contributing to her community. Was this an exchange?

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Yes, because painting the fences was exchanged for something of value—a feeling of satisfaction.

question

The marketing concept is the idea that an organization should strive to satisfy the needs of consumers

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while also trying to achieve the organization's goals.

question

Which of the following statements is an example of place utility?

answer

ATM machines in thousands of locations.

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question

The process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace is referred to as:

answer

customer relationship management

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question

The "4 Ps" of the marketing mix include product, price, place, and

answer

promotion

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question

The primary difference between a good and a service, both of which are products to the marketer, is that a good is __________ and a service is __________.

answer

a physical object; intangible.

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question

The goal of marketing is to both __________ the needs of prospective customers.

answer

discover and satisfy

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question

A friend gave you the name of a company, Batteries Plus, where you could inexpensively purchase a new power cord for your laptop. However, when you called, no one answered the phone even though you called during business hours. Marketing did not occur because:

answer

there was no way for the parties to communicate.

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Marketing 305 Test 1 – Flashcards

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