MKT 300 Chapter 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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Understanding consumers' _____ is fundamental to marketing success.
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needs and wants
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The goal of a marketing exchange is that the parties to the transaction be
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satisfied
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A firm that creates value by developing a variety of offerings, including goods, services, and ideas, is doing so through which of the following element of the four Ps?
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product
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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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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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promotion
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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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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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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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maintaining a transactional orientation in the seller-buyer relationship
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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 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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According to your text, which of the following can be said regarding the use of social media in today's global economy?
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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.
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Which of the following is not one of the core aspects of marketing?
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Marketing helps consumers learn about new products and services.
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Through the promotion element of the marketing mix, marketers attempt to _______ value.
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communication
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Internet auction sites like eBay facilitate _______ marketing.
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c2c
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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?
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market-oriented era
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Which of the following best describes a relational orientation?
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Firms focus on the lifetime profitability of the customer relationship, not how much money is made during each transaction.
