mktg 350 exam 1- chapter 1

___________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response

promotion

communicating the value

promotion

many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. These special issues are an example of:

Customer relationship management

Ivana is struggling with the choice of publishing her new book, Slovak Cuisine, as an e-book or paperback. Ivana is addressing which core marketing aspect?

Making product decisions

the primary purpose of the _________ plan is to specify the marketing activities for a specific period of time:

Marketing

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps:

Marketing Mix

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have the error of not creating a:

Marketing mix

Marketing traditionally has been divided into a set of four interrelated decisions and consequent actions known as the:

Marketing mix

a relational orientation is based on the philosophy that buyers and sellers develop:

a long-term relationship

to become a more value-driven organization, Pequot College is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. By doing so, Pequot College is becoming more value-driven through:

building relationships with customers

by using social media _________ on their mobile phones, customers can check in with HappyCow to find nearby vegetarian restaurants

location-based apps

which of the following is a core aspect of marketing?

making product, place, promotion, and price decisions

manufactuers and retailers began focus on what consumers wanted and needed

market oriented era

the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at a large is called:

marketing

the basic different between a good and a service is that a good ______________

can be physically touched

when clients work with their investment advisers, they _________ their investment portfolios

cocreate

the process of value _______, in which customers collaborate in product design, often provides additional value to the firm's customers:

cocreation

The four Ps make up the marketing mix, which is the ___________ set of decisions or activities that the firm uses to respond to the wants of its target markets

controllable

customer relationship building

crm

if a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is:

offering an exchange

effective promotion enhances a product or service's:

perceived value

Jeffrey is going to sell sporting apparel, which he has already purchased from manufactuers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeffrey has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeffrey still need to work on?

place

creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix?

place

delivering the value proposition

place

capturing value

price

creating value

product

product innovation not satisfying individual customers, Henry Ford

product oriented era

Henry Ford's statement, "customers can have any color they want so long as it's black," typified the ___________ era of marketing

production-oriented

manufacturers had the capacity to produce more than consumers really wanted or were able to buy

sales oriented era

during the ______ era, firms had excess capacity and used personal selling and advertising to generate customers:

sales-oriented

alan is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and ___________

the ability to buy them

try to discover and satisfy their customers needs and wants

value based marketing era