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ch. 1 quiz
Terms in this set (23)
Rather than being just a random activity, good marketing requires ________ in determining appropriate actions to produce sound decisions.
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.
Understanding consumers' ________ is fundamental to marketing success.
needs and wants
The goal of any exchange is that the parties to the transaction be
the _____ consists of the product, price, place and promotion of an offering
Apple creates value for consumers by developing a variety of offerings, such as its Apple Watch, Mac computers, and iPhones. In is doing so, Apple is focusing on which element of the four Ps?
a service is different from a good in that the benefit is
A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which marketing offering?
Which marketing mix variable is involved in the capture of value in the marketing exchange?
Which marketing mix element corresponds to what the buyer gives up in the marketing exchange?
Which marketing mix element deals specifically with retailing and marketing channel management?
When marketers communicate the value proposition, it involves the ________ element of the marketing mix.
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.
The ________ era embraced the belief that a good product would sell itself.
What is one of the core practices among value-oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
During the last couple of decades, it has become important for value-oriented marketers to ________ with customers.
move toward a relational perspective from a transitional orientation
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
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
According to your text, what can be said regarding the use of social media in advertising?
only 20% of the world's population uses facebook -- which means 80% still has not signed up
Which scenario illustrates how marketing has a direct impact on consumers?
marketing helps consumers learn about new products and services
By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ________ marketing.
Which marketing activity is most directly served by the promotion element of the marketing mix?
To build relationships, firms focus on the lifetime ________ of the relationship, not how much money is made during each transaction.
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