Mktg – Flashcard
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Marketing is the process of ______________________________________.
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creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
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The focal point of all marketing activities is __________.
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customers
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Organizations should define themselves not according to the products they produce but according to ______________.
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how they satisfy customers
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The definition of marketing implies that ___________ should receive benefits from exchange relationships.
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both customers and businesses
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The primary value that a marketer expects to receive from a customer in an exchange relationship is _____________.
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the price charged for the product
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A target market
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is a specific group of customers on whom a company focuses its marketing efforts.
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Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi __________.
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target market
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Distribution, price, promotion, and product are all elements of ______________.
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the marketing mix
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A marketing manager decides what combination of variables is needed to satisfy customer needs for a general type of product. What are the essential variables that the marketing manager combines?
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Product, price distribution, and promotion variables
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The marketing mix is built around the ______.
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customer
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Marketing managers strive to develop a marketing mix that ________________
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matches the needs of the target market
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The product variable of the marketing mix can include all of the following except:
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consumer perception of the product price
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The three basic forms that a product can take are:
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service, ideas, and goods
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A physical product you can touch is a ____________
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good
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The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n):
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service
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Which of the following companies is the best example of a service marketer?
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FedEx
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Mother against drunk driving is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets:
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ideas
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The Church of the Latter Day Saints has used advertising for many years to market its _______.,
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ideas
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Which of the following is most likely to be an idea marketer?
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Abuse counselor
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Deciding to add gel insoles to its running shoes would be a change in the __________ element of the marketing mix for Nike
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product
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Making modifications to packaging or brand names involves the ____________ component of the marketing mix.
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product
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Issues of inventory levels and storage costs are both concerns relating to the ___________ variable of the marketing mix.
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distribution
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Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about:
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the best way to distribute his product
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Consumers buying products online have dramatically affected the _________ variable of the marketing mix.
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distribution
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Changing the hours of operation for a service business involves the ______________ component of the marketing mix.
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distribution
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Which of the following scenarios involves the distribution element of the marketing mix?
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Deciding whether or not to have retail outlets in addition to a website
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The element of the marketing mix used to increase awareness of a product or company is _______.
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promotion
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When DuPont develops new carpet fibers that are highly stain resistant and durable, it must educate the consumers about the products benefit. This calls for activity in which of the following marketing mix variables?
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promotion
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Boca Burger website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is to be used primarily as a __________ marketing tool.
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promotional
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Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?
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competition
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The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?
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provision or transfer of goods, services, or ideas in return for something of value
