Marketing 3803 Assignment #1

What are examples of good marketing campaigns? (Choose every correct answer.)

Those that are ethical Those that consider their effect on society Those that are thoughtfully planned

When applying for a job, how might you market yourself? (Choose every correct answer.)

Through the way you dress Through your answers to interview questions Through your cover letter

Why do companies divide their customer base into differing categories?

To better understand specific customers' wants and needs

Which of the following describes the fundamental purpose of marketing?

To create value and satisfy consumer needs

What are purposes of the Milk Life and Body by Milk marketing campaigns? (Choose every correct answer.)

To encourage people to add milk to their diets to improve their health To sell more milk and dairy products

A strategy developed by companies that specifies marketing activities for a specific period of time is known as a ______.

marketing plan

True or False: In the marketing mix, place attempts to deliver value by making the product or service available when and where the consumer needs or wants it.

True

Why is it useful for marketers to divide marketplace consumers into discrete groups or segments?

Understanding specific marketplace segments can lead to marketing strategies that target relevant groups.

An environmental nonprofit organization is using Instagram to market the idea that reducing greenhouse gas emissions is a good way to reduce climate change. In this scenario, when does the value exchange occur?

When one of its Instagram followers reduces his or her greenhouse gas emissions

Which are supply chain partners? (Choose every correct answer.)

Wholesalers Retailers Transporters

When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by consumers, this is an example of market ______.

segmentation

A successful marketing plan helps ensure that _____.

all parties involved in a transaction are satisfied

Firms marketing directly to each other are participating in business-to-__________ marketing. (Type only one word in the blank.)

business

Good ______ management creates a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, while minimizing system-wide costs and maximizing satisfaction of the value required by customers.

supply chain

Marketing success begins with a strong understanding of ______.

the desires and requirements of the marketplace consumer

In a value-based, marketing-oriented firm, marketers share information about ______ and competitors and then integrate and distribute it across the firm's various departments.

customers

Modern marketers use ______ to focus how they approach their customers and market their products.

data analytics

Services are intangible customer benefits, whereas ______ are tangible items that you can physically touch.

goods

If a car manufacturer wanted to segment its marketplace, it would do which of the following? (Select all that apply.)

Identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans) Organize potential customers into groups based on their age Divide consumers into groups based on their incomes

Which of the following are services airlines frequently offer to create value for customers? (Choose every correct answer.)

In-flight WiFi shopping opportunities Many flights to destinations consumers want

Products include goods and services, as well as __________, which are thoughts, opinions, and philosophies that can be marketed, just as goods and services can. (Remember to type only one word in the blank.)

ideas

Match each marketing mix component with its corresponding value function.

Product: creating value Price: capturing value Place: delivering value Promotion: communicating value

Which of the following is true of services?

They cannot be separated from the producer.

Many businesspeople believe that marketing should focus on factors other than financial goals, such as ______.

corporate citizenry

Marketing is the activity, set of institutions, and processes that create, capture, communicate, and ______ value.

deliver

Each of the four Ps plays a distinct role in adding value for customers and firms. Product, the first of the four Ps, is responsible for ______.

developing goods and services

In general, promotion can ______ a product's or service's value to consumers.

enhance

A core aspect of marketing involves a(n)________________ , which is a transaction in which things of value are traded by buyers and sellers.

exchange

Marketers must determine the prices of products on the basis of ______.

potential buyers' beliefs about a product's value

Of the four Ps, _________ is whatever the buyer gives up in exchange for the product, including money, time, or energy.

price

A company's ______ create(s) value by satisfying customer needs.

products, services, or ideas

Marketers use ______ to inform, persuade, and remind potential buyers about a product or service to influence their opinions and elicit a response.

promotion

In the marketing mix, which element of the four Ps communicates value to the consumer?

promotion

______ is the part of the marketing mix that communicates the value of the product to the consumer.

promotion

_______ is the component of the four Ps of marketing that is used by marketers to inform, persuade, and remind potential buyers about a product or service to influence their opinions and produce a response.

promotion

If you decide to list merchandise on eBay for someone to buy, you can best be described as what?

seller

Getting cash from an ATM is considered a(n) ______ transaction.

service Reason: The service is the location of the ATM, making it convenient, fast, and easy to use.

Many firms recognize that adopting a strong ______ orientation in business is a sound strategy. It shows the consumer marketplace that the firm will be around for the long run and can be trusted with consumers' business.

socially responsible

Large corporations collect vast amounts of information about their customers' shopping habits, including how, when, why, where, and what they buy, and then use that information to ______.

Large corporations collect vast amounts of information about their customers' shopping habits, including how, when, why, where, and what they buy, and then use that information to ______.

Which of the following is the most helpful to a firm in ensuring that its merchandise will be readily and efficiently available in stores, so that consumers are not disappointed and the firm's profits do not suffer?

Marketing channel management

Which of the following is true of the "Milk Life" and "Body by Milk" marketing campaigns?

Milk producers have created high levels of awareness about the benefits of drinking milk through these campaigns.

Which of the following is most likely to be a value-driven firm?

One that has active and engaging social media channels

Sandra is walking down the street and finds herself in the mood for an ice cream cone. A few blocks later she passes an ice cream shop. Which of the 4 Ps is most at play here?

Place

Which of the following are buying-related activities, in contrast to selling-related activities? (Choose every correct answer.)

Purchasing MP3s from an online retailer Giving a barista cash for a cup of coffee Using a credit card at a grocery checkout counter

A ______ is any intangible offering that involves a performance or an effort by the provider that cannot be physically possessed, inventoried, or otherwise held.

Service

Value-oriented marketers engage in an ongoing process of balancing ______.

the perceived benefit to customers and the price

Which term refers to the set of approaches and techniques a firm employs to efficiently integrate suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction?

Supply chain management

Which statements about the marketplace are true? (Select all that apply.)

The marketplace refers to the world of trade. For most firms, the best strategy is to target specific segments of the market. The marketplace can be divided into categories that are important to an organization for specific reasons.

Why is a strong supply chain important?

It helps get merchandise to customers when and where they want it.

Which are core aspects of marketing? (Choose every correct answer.)

Marketing helps create value. Marketing entails an exchange.

Which of the following statements about the core aspects of marketing are true? (Choose every correct answer.)

Marketing involves satisfying customers needs, Requires product, price, place, and promotion decisions Impacts various stakeholders

Which of the following are components of price? (Check all that apply.)

Money Energy Time

In a ______ market, investors are more likely to have a favorable view of firms with high levels of social responsibility.

volatile

What was the purpose of the 80th anniversary Babar marketing campaign?

To communicate the value proposition

True or False: Goods and services may be offered together.

True

When a consumer gives up money (or something of value) in order to receive something else of value, this is called ______.

an exchange

Value-oriented marketers measure the benefits that customers perceive against the _____ of their offerings.

costs

When JetBlue Airlines provides travelers with in-flight WiFi shopping, it is ______ to satisfy customer needs.

creating value

What proportion of the world's population CANNOT access the Internet?

About 50%

What are the two key elements marketers consider when determining price?

Ensuring the seller achieves a reasonable profit Determining how much customers are willing to pay so that they are satisfied with the purchase

Approximately what percentage of marketers use social media?

97%

Which of the following characterizes an exchange?

A buyer and seller trade things of value, leaving each better off than before.

What is the fundamental factor underlying all buyer-seller relationships?

An exchange

An environmental nonprofit organization's Instagram channel encourages citizens to reduce their greenhouse gas emissions. What type of product is it selling?

An idea

Which of the following are considered ideas? (Select all that apply.)

An opinion A philosophy

In what situation are you most likely to market yourself?

At a job interview

Firms selling merchandise directly to each other is called ______ marketing.

B2B

The process by which businesses sell to consumers is known as ______ marketing.

B2C

Firms become value driven by focusing on which of the following activities? (Choose every correct answer.)

Balancing customer benefits and costs Building relationships Sharing information

What is NOT a characteristic of good marketing?

Benefiting the competition

Which of the following is NOT an example of a service?

Buying a new car

What are examples of C2C marketing? (Choose every correct answer.)

Buying an iron from a neighbor's yard sale Selling your old laptop through eBay.com

Which of the following is an example of both goods and services received in combination?

Buying new tires and having them installed on your car

Like Timex, Rolex makes watches. How does Rolex add unique value to its products?

By conferring status

Globally, what prevents marketers from targeting consumers via social media?

Consumers' lack of high-speed Internet

Which entity does NOT market to the other entity?

Customers to businesses

Ideally, successful American firms believe that marketers should focus on which of the following beyond financial profitability? (Choose every correct answer.)

Environmentally friendly options Social responsibility

True or False: Businesses should avoid using social and mobile media technologies.

False

True or False: Marketing can only be performed by a retailer interacting with an individual consumer.

False

Which of the following best describes goods?

Items you can touch

Match each type of marketing with its related example.

Manufacturer sells a computer to a retailer: B2B Retailer sells a computer to customer A: B2C Customer A sells the computer to his friend: C2C

Which element of the four Ps embodies all activities needed to get the product to the right customer when and where he or she wants it?

Place

Which of the four Ps represents all activities necessary to get an offering to the right customer when that customer wants it?

Place

Which of the following are elements of the marketing mix? (Choose every correct answer.)

Price Product

Which of the following are associated with marketing, as defined by the American Marketing Association? (Choose every correct answer.)

Processes used to create value for clients Institutions that facilitate the exchange of offerings that have value for customers Activities that communicate offerings that have value for society at large

Which of the following is the part of the marketing mix that seeks to create value by providing features and benefits that meet consumers' needs?

Product

Drag and drop each good against the corresponding value it primarily provides.

Rolex Watch: status Nike shoes: performance energy bars: convenience

Fast Bean sells coffee to Fred to brew and drink at home. This is an example of business-to-______ marketing.

consumer