Marketing Management 3010 Ch. 1 Quiz – Flashcards
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Rather than being just a random activity, good marketing requires _____ in determining appropriate actions to produce sound decisions.
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thoughtful planning
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The ____ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers.
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marketing plan
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Understanding consumers' _____ is fundamental to marketing success.
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needs and wants
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Crest toothpaste targets different consumer _____ by offering different types of toothpaste for smokers than it does for children, based on their differing needs and wants.
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segments
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The goal of the marketing exchange is for the parties to the transaction to be
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satisfied.
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At the most basic level, marketing involves _____ between the buyer and the seller so that each is better off as a result.
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exchanges
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The _____ consists of the product, price, place, and promotion of an offering.
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marketing mix
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When San Pellegrino water creates value through its brand image, it is doing so through which of the following element of the four Ps?
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Product
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Apple's iPad is an example of which of the following types of marketing offerings?
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Goods
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A service is different from a good in that the benefit is
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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?
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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?
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Ideas
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Which of the following marketing mix variables is involved in the capture of value in the marketing exchange?
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Price
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Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?
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Price
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Redbox uses the _____ element of the marketing mix to make movie rentals available for customers when and where they need them.
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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?
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Place
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Which marketing mix element deals specifically with retailing and marketing channel management?
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Place
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When marketers communicate the value proposition, it involves the _____ element of the marketing mix.
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promotion
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When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing.
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B2B
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The _____ era embraced the belief that a good product would sell itself.
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production-oriented
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Which of the following is one of the core practices among value-oriented marketers?
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constantly measuring the benefits that customers receive against the costs of offerings
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Recently, it has become important for value-oriented marketers to _____ with customers.
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move toward a relational perspective from a transactional orientation
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A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as
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customer relationship management.
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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 its Facebook page. This is an example of marketing using
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social media.
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Which of the following illustrates how marketing has a direct impact on consumers?
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Marketing helps consumers learn about new products and services.
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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.
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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
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supply chain.
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Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers.
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socially responsible
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Because it has been at the center of success for many companies, marketing is considered a cornerstone of
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entrepreneurship.
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According to your text, which of the following is a characteristic of great and distinguished entrepreneurs?
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They have visions of how certain combinations of products and services can satisfy unfilled needs.
