MKC1 – Flashcard
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Which of the following is contained as an explicit activity in the AMA's definition of marketing?
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communicating about offerings that have value
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Which association below between the AMA's definition of marketing matches with the corresponding element of the marketing mix?
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communicating offerings => Promotion
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Which of the following is part of the marketing mix, also known as the "four Ps"?
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Place
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Which element of the marketing mix would include advertising and sales?
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Promotion
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The personal value equation of the customer is reflected in the formula?
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Value = Benefits received − [Price + Hassle]
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How might a marketer increase a consumer's personal value equation?
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reduce the hassle and increase the benefits associated with the exchange
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Sam likes to buy season tickets to his favorite college football team, while Kerry likes to buy individual game tickets to the team's games. What does this likely mean?
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Sam and Kerry have different personal value equations
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Which of the following examples best illustrates the marketing concept?
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A catering firm decides to expand its hours of operations to better serve working mothers
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Which of the elements below is included in the bundle that is the company's offering to the customer?
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Intangible elements
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Which product featured in the text was first launched through communicating on its company's Web site in regard to features, speed, and price?
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Apple 3G iPhone
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The Elliott Corporation decides to exhibit its products in an industry trade show, performing which marketing activity?
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Communicating offerings
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What is defined as the actual transportation and storage of materials and products?
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Logistics
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Procter and Gamble markets its Tide detergent to consumers, households, retailers, institutions (such as hospitals), and the U.S. military. Still, Procter and Gamble is usually categorized as a?
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For-profit, B2C company
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If the U. S. Department of Homeland Security mails free packing guidelines to airline travelers, it is?
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Engaged in marketing as a non-profit organization
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What is an effort by government agencies, nonprofit institutions, and religious organizations to achieve certain social objectives?
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Social marketing
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Which of the following represents good marketing?
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Yielding a positive value for the consumer and a profitable transaction for the company
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Opponents argue that marketing costs do not benefit society. Marketers counter this by stating these costs result in the creation of?
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Better informed consumers
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Which marketing career involves responsibility for developing retailing strategies regarding what to carry which then allows buyers then decide what specific products to purchase?
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Marketing research
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Which marketing career involves meeting with customers, determining value, proposing offerings, and making sure that the customer is satisfied?
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Sales
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Martin has incorporated several features customers have suggested into a new model of his company's vacuum cleaners. Martin is engaged in?
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Product development
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Which company, mentioned in the text, offers a mission statement that reflects a production orientation rather than a marketing orientation?
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Apple
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The correct order of strategic development for today's marketing organizations should be?
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The mission statement, the corporate strategy, and the marketing plan
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When designing a marketing plan, companies should start with?
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Customers
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As exchanges occur, how should planners adjust?
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by adapting to customer feedback by adapting to competitors' actions by adapting to changing market conditions all of the above (Correct)
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Key considerations of successful marketing are sustainability, a service dominant logic, improved use of metrics, and ?
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A global environment
