Marketing Chapter 1 questions – Flashcards

Which of the following is NOT one of the core principles of marketing? A.Marketing entails an exchange B. Maketing is exclusive to businesses C.Marketing is about satisfying customer needs and wants D. Marketing requires decisions based on the 4 Ps

Marketing requires product, price, promotion, and ____decisions A.Profit B. Production C.Prototype D. Place

The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customes is referred to as__ A.Promotion B. Advertising C. Marketing D. Planning

Lexus offers a backup camera on its luxery automobiles. By eliminating blind spots and improving safety of its vehicles, Lexus creates ___for its customers A. a need B.Value C. An exchange D.A promotion

Marketing entails a __between the buer and the seller A.Exchange B.Need C.Plan D.Value

The primary functionof marketing is to___ A. improve the supply chain B. advertise effectively C. establish value D. develope a well-designed sales force

When consumers weigh the benefit gaines from a product in comparison to the money spent, the end result is A. wat B. a need C. value D.an exchange

Intangible customer benefits, such as a car wash or a haircut, are examples of ___ A. Products B.Services C. Goods D. ideas

A service is different from a good in that the benefit is ___ A.less expensive B. intangible C.tangible D. easy to market

Dunkin' Donuts offers coffee and donuts that are "familiar with a twist"—popular items that are available all the time, and seasonal specials like pumpkin spice coffee and heart-shaped donuts. This "familiar with a twist" approach is an example of which of the four Ps? A.Place B. people C. Promotion D. Price E. product

Dunkin' Donuts makes sure that its locations are convenient for its customers—close to where they live and work. Which of the four Ps does this represent? A.Place B. People C.Price D. Promotion E.Product

In the DDPerks loyalty program, customers earn points for each purchase and are awarded free coffee each time they earn 200 points. Loyalty programs are part of a(n) A. CRM program. B.transactional orientation. C.value co-creation effort. D.supply chain. E.marketing channel.

Dunkin' Donuts offers some localized programs; for example, offering free coffee to all customers if a local sports team wins an important game. This is an example of which of the four Ps? A.Place B.Product C. Promotion D. People E. Price

Dunkin' Donuts uses 100% Arabica beans in its coffee and tests the quality of the coffee beans before using them. The companies who provide coffee beans to Dunkin' Donuts are part of its A. B2C marketing. B.supply chain. C. value co-creation. D. transactional orientation. E. CRM program.

Which marketing era is characterized by an abundance of products allowing the buyer to make purchasing decisions on the basis of factors such as quality, convenience, and price? A. production-oriented era B. market-oriented era C. sales-oriented era D. transaction-oriented era E. value-based marketing erad era

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

If Mom places the highest value on convenience when looking for a cup of coffee, which of the marketing-mix components is she most concerned with? A.Program B. Product C. Place D. Price E.Promotion

Joe to Go offers donuts with its simple cup of black coffee that customers serve themselves. In doing so, the company is attempting to create value for Dad and other customers through which element of the four Ps? A. Place B. Promotion C.Price D. Program E. Product

The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty rewards program. In doing so, the Coffee Collective is identifying its target _____________. A.marketing mix B. market orientation C. market program D. market segment E. marketing concept

Which of the following is not one of the core aspects of marketing? A. Marketing helps create value. B. Marketing entails an exchange. C. Marketing affects various stakeholders. D. Marketing helps consumers learn about new products and services. E. Marketing can be performed by both individuals and organizations.

Through the promotion element of the marketing mix, marketers attempt to _______ value. A. create B. communicate C. deliver D. capture E. develop

According to your text, which of the following can be said regarding the use of social media in today's global economy? A. Facebook is the social media site of choice for marketers because nearly 75 percent of the world's population has signed up for a Facebook account. B. Marketers are reluctant to embrace new technologies in social and mobile media because the technology is changing so rapidly. C.A big obstacle to the growth of social media is that only around 40 percent of the world's population has access to the Internet. D. Globally, social networks are approaching saturation as nearly all markets have tapped into some form of social media . E. The use of social media, once the premier way to connect to consumers, is rapidly falling off in popularity due to privacy concerns among users.

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

Understanding consumers' _____ is fundamental to marketing success. A. family connections B. rituals and habits C. needs and wants D. educational attainment E. physical locations

A service is different from a good in that the benefit is A. valuable. B. tangible. C. intangible. D. less expensive.

When marketers communicate the value proposition, it involves the _____ element of the marketing mix. A. product B. price C.promotion D. place E. policy

Apple's iPad is an example of which of the following types of marketing offerings? A. Innovations B. Goods C. Services D. Ideas E. Promotions

Internet auction sites like eBay facilitate _______ marketing. A. B2B B. C2C C. B2C D. C2B E. A2B