Chapter 1

Which of the following is most likely to be an idea marketer?

Abuse counselor

Which of the following scenarios involves the distribution element of the marketing mix?

Deciding whether or not to have retail outlets in addition to a website

Which of the following companies is the best example of a service marketer?

FedEx

_________ is the process of establishing performance standards, comparing actual performance with established standards, and reducing the difference between desired and actual performance.

Marketing control

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

Product, price, distribution, and promotion variables

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

Provision or transfer of goods, services, or ideas in return for something of value

The definition of marketing implies that ______ should receive benefits from exchange relationships.

both customers and businesses

The product variable of the marketing mix can include all of the following except

consumer perception of the product price

Marketing is the process of

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.

The marketing mix is built around the

customer.

The focal point of all marketing activities is

customers.

Changing the hours of operation for a service business involves the _____ component of the marketing mix.

distribution

Consumers buying products online have dramatically affected the ___________ variable of the marketing mix.

distribution

Issues of inventory levels and storage costs are both concerns relating to the _____ variable of the marketing mix.

distribution

The marketing environment is best described as being

dynamic and changing.

A physical product you can touch is a(n)

good.

Organizations should define themselves not according to the products they produce but according to

how they satisfy customers

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets

ideas.

The Church of the Latter Day Saints has used advertising for many years to market its

ideas.

A target market

is a specific group of customers on whom a company focuses its marketing efforts.

Marketing managers strive to develop a marketing mix that

matches the needs of the target market

Deciding to add gel insoles to its running shoes would be a change in the _____ element of the marketing mix for Nike.

product

Making modifications to packaging or brand names involves the _____ component of the marketing mix

product

The element of the marketing mix used to increase awareness of a product or company is

promotion

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

service.

The three basic forms that a product can take are

services, ideas, and goods.

Kashi Heart to HeartTM cereal is aimed at people concerned about their heart health. These people represent the Kashi

target market.

SunnyD is aimed at mothers with children under age twelve. These mothers represent SunnyD's

target market.

Distribution, price, promotion, and product are all elements of

the marketing mix

The primary value that a marketer expects to receive from a customer in an exchange relationship is

the price charged for the product