Marketing – Chapter 01 – Flashcards
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Marketing involves all of the following EXCEPT
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production scheduling
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Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing?
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Satisfying customer needs and wants
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Which of the following is a core aspect of marketing?
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making product, place, promotion, and price decisions
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The fundamental goal of marketers when creating goods, services, or combinations of both, is to
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create value
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Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of
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supply chain management.
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The marketing goal of getting the "right quantities to the right locations, at the right time" relates to
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supply chain management.
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The importance of supply chain management is often overlooked in the study of marketing because
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many of the activities take place behind the scenes.
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When considering career choices in marketing, many students overlook supply chain management because
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companies generally outsource these activities, and so there are rarely supply chain jobs available.
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The idea that a good product will sell itself is associated with the __________ era of marketing.
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production-oriented
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During the market-oriented era,
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the customer was king.
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As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of
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sharing information across the organization
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Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like Ryanair and EasyJet have been successful. Consumers obviously consider
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the benefit of lower prices to be greater than the cost of reduced services and less convenience
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A relational orientation is based on the philosophy that buyers and sellers develop
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a long-term relationship
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After hurricanes like Katrina, many small building contractors will flock to the damaged area, charging whatever customers will pay for temporary repairs to roofs and other parts of damaged homes. These contractors are engaged in a(n) __________ marketing orientation.
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transactional
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The goal of customer relationship management is to
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identify and build loyalty among a firm's customers.
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Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of
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customer relationship management
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Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smart phones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of
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identifying opportunities to expand.
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Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in
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effective supply chain management
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Many entrepreneurs are successful through marketing efforts designed to
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satisfy unfilled needs.
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People who initiate, organize, operate, and assume the risk of a business venture are called
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Entrepreneurs.
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A(n)__________ is the trade of things of value between the buyer and the seller so that each is better off as a result.
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exchange
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When an accounting firm provides an online training module showcasing real-life decision lapses and their negative effect on the company, it is trying to encourage what type of behavior from its employees?
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ethical
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The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called
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marketing
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Supply chain management is also referred to as
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retail management.
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Which element of the marketing mix is most relevant to the activity "creating value"?
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price
