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Marketing Chapter 1
Terms in this set (30)
1. Rather than being just a random activity, good marketing requires _____ in determining appropriate actions to produce sound decisions
2. The ____ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers
3. Understanding consumers' _____ is fundamental to marketing success
needs and wants
4. Crest toothpaste targets different consumer _____ by offering different types of toothpaste for smokers than it does for children based on their differing needs and wants
5. The goal of a marketing exchange is that the parties to the transaction be
6. The _____ consists of the product, price, place, and promotion of an offering.
7. A firm that creates value by developing a variety of offerings including goods, services, and ideas is doing so through which element of the four Ps?
8. Apple's iPad is an example of which of the following types of marketing offerings?
9. A service is different from a good in that the benefit is
10. When an optical center provides eye exams and new contact lenses as its offering, it is an example of which the following combinations?
goods and services
11. A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which of the following marketing offerings
12. Which of the following marketing mix variables is involved in the capture of value in the marketing exchange?
13. Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?
14. Redbox uses the _____ element of the marketing mix to make movie rentals available for customers when and where they need them
15. Kroger collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to
16. Which marketing mix element deals specifically with retailing and marketing channel management
17. When marketers communicate the value proposition, it involves the _____ element of the marketing mix
18. When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing.
19. The _____ era embraced the belief that a good product would sell itself
20. Which of the following is one of the core practices among value-oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
21. During the last couple of decades, it has become important for value-oriented marketers to _____ with customers
move toward a relational perspective from a transactional orientation
22. A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as
customer relationship management
23. 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
24. According to your text, which of the following can be said regarding the use of social media in advertising?
only 20% of the worlds population uses FB
25. Which of the following illustrates how marketing has a direct impact on consumers?
Marketing helps consumers learn about new products and services
26. When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire _____ for goods and services
27. A firm relies on a wide variety of vendors to make and distribute its products. Manufacturers buy raw materials from suppliers, use shipping companies to transport finished goods to multiple locations, and establish relationships with the retailers who sell them to consumers. Put all these businesses together and you have a
28. Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers.
29. What is an entrepreneur
a person who organizes, operates, and assumes the risk of a business venture
30. Because it has been at the center of success for many companies, marketing is considered a cornerstone of
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