question

In which type of economy do government officials decide about production and distributions?

answer

Command Economy

question

When may a command economy work well?

answer

Simple economy Little variety adverse conditions

question

What type of economy adjusts itself; price is a value measure; there is freedom of choice with limited government and public interest groups

answer

Market Directed Economy

question

In what marketing era was the focus to sell surplus?

answer

Simple Trade Era

question

In what marketing era was the focus to increase supply?

answer

Production Era

question

In what marketing era was the focus to beat competition?

answer

Sales Era

question

In what marketing era was the focus to coordinate and control?

answer

Marketing Department Era

question

In what marketing era was the focus on Long-run consumer satisfaction?

answer

Marketing Company Era

question

What are the three components of the marketing concept?

answer

Customer Satisfaction Total Company Effort Profit

question

What are the four components of social responsibility?

answer

Philanthropic Ethic Legal Economic

question

T/F Marketing is more than selling or advertising

answer

True

question

Making goods and performing services

answer

Production

question

The extent to which a firm fulfills a customer's needs, desires, and expectations

answer

Customer Satisfaction

question

The development and spread of new ideas, goods, and services

answer

Innovation

question

The performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client

answer

Marketing

question

Economy in which each family unit produces everything it consumes

answer

Pure Subsistence Economy

question

Social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society

answer

Macro-marketing

question

as a company produces larger numbers of a particular product, the costs of each unit of the product goes down

answer

Economies of scale

question

Universal functions of marketing are?

answer

Buying Selling Transporting Storing Standardization Grading Financing Risk Taking Market Information

question

Looking for and evaluating goods and services

answer

Buying Function

question

Promoting the product

answer

Selling Function

question

Movement of goods from one place to another

answer

Transporting Function

question

Holding goods until customers need them

answer

Storing Function

question

involve sorting products according to size and quality (two functions)

answer

Standardization and grading

question

Provides the necessary cash and credit to product transport, store, promote , sell and buy products

answer

Financing function

question

This involves bearing the uncertainties that are part of the marketing process

answer

Risk Taking

question

This involves the collection, analysis, and distribution of all info needed to plan, carry out, and control marketing

answer

Market Information Function

question

Someone who specializes in trade rather than production

answer

Intermediary

question

Firms that facilitate or provide one or more of the marketing functions other than buying or selling

answer

Collaborators

question

Exchanges between individuals or organizations based on applications of information technology

answer

E-Commerce

question

The way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption by various people and groups in the society

answer

Economic System

question

What in the marketplace is a rough measure of how society values particular goods and services

answer

Price

question

Manager viewpoint based on making whatever products are easy to produce and then trying to sell them

answer

Production Orientation

question

Simply attempting to carry out the marketing concept

answer

Marketing Orientation

question

This measures an organization's economic, social, and environmental outcomes as a measure of long-term success

answer

Triple Bottom Line

question

The difference between the benefits a customer sees from a market offering and the cost of obtaining those benefits

answer

Customer Value

question

What is good for some firms and consumers may not be good for society as a whole

answer

Micro-macro dilemma

question

A firm's obligation to improve its positive effects on society and reduce its negative effects

answer

Social Responsibility

question

The moral standard that guide marketing decisions and actions

answer

Marketing Ethics

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