MKT 3013 Interactives Ch. 1 – Flashcards
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Which of the following is NOT one of the core principles of marketing? - marketing entails an exchange - marketing is exclusive to businesses - marketing about satisfying customer needs and wants - marketing requires decisions based on the 4Ps
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- marketing is exclusive to businesses
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Marketing requires product, price, promotion, and ______ decisions. - profit - production - prototype - place
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place
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The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers is referred to as _______. - promotion - advertising - marketing - planning
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marketing
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Lexus offers a back-up camera on its luxury automobiles. By eliminating blind spots and improving the safety of its vehicles, Lexus creates _______ for its customers. - a need - value - an exchange - a promotion
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value
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Marketing entails a(n) _______ between the buyer and the seller. - exchange - need - plan - value
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exchange
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The primary function of marketing is to _______. - improve the supply chain - advertise effectively - establish value - develop a well-designed sales force
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establish value
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When consumers weigh the benefit gained from a product in comparison to the money spent, the end result is _______. - a want - a need - value - an exchange
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value
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Intangible customer benefits, such as a car wash or a haircut, are examples of _______. - products - services - goods - ideas
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services
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A service is different from a good in that the benefit is _______. - less expensive - intangible - tangible - easy to market
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intangible
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Zipcar is an example of what type of market orientation? - exchange marketing - value-based marketing - providence marketing - sales marketing - production marketing
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value-based marketing
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Zipcar's goal is to have an available zipcar located within 10-15 minutes of its members. This is an example of what component of the marketing mix? - promotion - product - price - place - position
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place
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Zipcar traditionally focused on marketing toward individuals without cars as a convenient form of alternative transportation. Zipcar has now begun to also focus its marketing toward businesses and organizations to use Zipcar for their employees. This is an example of _______________. - A2B marketing - C2C marketing - B2C marketing - A2C marketing - B2B marketing
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B2B marketing
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Zipcar's commitment to educating customers about alternative transportation is an example of what? - work-of-mouth advertising - providing employment opportunities - production orientation - enriching society - competition
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enriching society
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Zipcar was developed to adapt to customers' changing transportation needs. Zipcar was successful because it was able to create a venture that satisfied these unfulfilled needs. This is an example of what? - entitlement - managerial prowess - supply chain pervasiveness - entrepreneurship - self-promotion
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entrepreneurship
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Although blue jeans are made of the same basic fabric, how a brand of jeans is _____ determines how the brand will be positioned in the marketplace, and ultimately who will buy it. - sold - manufactured - warranted - developed - marketed
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marketed
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Depending on whether consumers want bargains, selection, service, or style will determine _____ consumers will buy their jeans. - how often - how - when - why - where
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where
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Consumers pay more for a pair of premium jeans because these jeans provide more ____________. - features - colors - sizes - use - value
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value
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Companies that get celebrities to be seen in their designer jean brands relate to which of the marketing mix variables? - price - distribution - promotion - product - place
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promotion
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The bottled water industry has experienced ________ than the carbonated beverage industry. - much less growth - slightly less growth - slightly greater growth - much greater growth - about the same growth
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much greater growth
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At the beginning of the bottled water movement in the United States, it was primarily purchased by ___________. - large families - the elderly - status-conscious consumers - bargain hunters - hospitals
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status-conscious consumers
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Many consumers believe bottled water is ________ tap water. - less available than - not as safe as - identical to - better than - cheaper than
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better than
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The exponential growth of the bottled water industry can be attributed largely to _________. - environmentalists - water shortages - rising prices - the power of marketing - high-end restaurants
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the power of marketing
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The expansion of bottled water sources to include filtered municipal water was a consequence of Pepsi and Coke __________. - leaving the market - cooperating - entering the market - using technology - restricting access to other sources
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entering the market
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Both Pinkberry and Red Mango allow customers to "do-it-yourself." In other words, customers can create and customize their own unique combinations of flavors and toppings. In marketing, this is known as ______. - the marketing mix - value co-creation - value - CRM - exchange
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value co-creation
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Based on the information in the case, only Pinkberry seems to be using _______ through its interactive website, Twitter, and Facebook. - social media - the 4 P's - value co-creation - CRM - supply chain management
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social media
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Red Mango rewards loyal customers with coupons that can be redeemed for free and discounted products, and they offer loyal customers special promotions. These activities are part of a(n) ______________ program. - C2C - B2B - CRM - supply chain management - exchange
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CRM
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Clearly, customers enjoy the frozen yogurt offered at both Pinkberry and Red Mango. They also seem to enjoy the service in the stores as well as the idea that frozen yogurt is healthy. These elements all represent delivering value through which of the four Ps? - price - product - none of these - promotion - place
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product
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Both Pinkberry and Red Mango know that to be truly value driven, they must do all of the following except - share information - carefully balance benefits and costs - make profitability the number one goal - take advantage of new technologies - build relationships with customers
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make profitability the number one goal
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Both Red Mango and Pinkberry must communicate information about their products and services and then deliver them to their customers. In turn, their customers provide these companies with money and information. This represents the core marketing concept of _______. - globalization - exchange - supply chain management - CRM - value
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exchange
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Firms compete on price point, store design, and the product itself. These are all elements of a firm's _______. - supply chain - relational orientation - marketing plan - marketing mix - entrepreneurship
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marketing mix
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To communicate to consumers that its products are both healthy and delicious, Red Mango would use which of the 4 Ps? - product - promotion - price - place - people
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promotion
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Having employees make smoothies for customers represents which aspect of a product offering? - idea - good - place - service - price
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service
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By creating cool, comfortable stores that invite customers to socialize, Red Mango increased the ______ of its market offerings. - supply - price - value - exchange - cost
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value
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Customers can use the self-service area to customize their own dish of frozen yogurt. In marketing terms, Red Mango is engaging these customers in ________. - promotion - value escalation - C2C escalation - value co-creation - entrepreneurship
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value co-creation
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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? - price - people - place - promotion - product
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product
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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? - place - people - promotion - product - price
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place
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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) - transactional orientation - value co-creation effort - supply chain - CRM program - marketing channel
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CRM program
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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? - price - people - place - promotion - product
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promotion
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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 - CRM program - supply chain - transactional orientation - B2C marketing - value co-creation
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supply chain
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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? - promotion - program - place - price - product
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place
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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? - program - price - product - promotion - place
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product
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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 _____________. - market program - marketing concept - marketing mix - market segment - market orientation
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market segment
