Marketing Quiz 1

Ideas are:

Thoughts, opinions, philosophies, intellectual concepts.

In order to compete successfully most firms today, operating in the market orientation phase of marketing, have to provide their customers with better _-based marketing than their competitors.

Value

In what marketing era are we functioning today?

Values-based marketing era

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

corporate citizenry

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

corporate citizenry

During the sales-oriented era, ______.

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

Firms become value driven by focusing on which of the following activities? (Check all that apply)

sharing information, balancing customer benefits and costs, building relationships.

Which of the following are related to marketing in the production- oriented era?

1) Retailers were considered places to hold inventory until it was sold. 2) Manufactures were concerned with product innovation,not with satisfying the needs of the individual.

If a car manufacturer wanted to segment its marketplace, it would

1) divide consumers into groups based on their incomes 2) identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans)

Approximately what percentage of marketers use social media?

97%

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

A Philosophy, an opinion, a thought.

Which of the following characterizes the relationship between marketing and exchange?

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

Which of the following periods denotes the production-oriented era?

At the turn of the 20th century

The process by which businesses sell to consumers is known as

B2C (business-to-consumer)

In the four Ps of marketing, the task of the price is to____value for the market mix.

Capture

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

Consumer

Value oriented marketers measure the benefits that customers perceive against the___ of their offerings

Cost

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

Which entity does NOT market to the other entity?

Customers to business

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

Data

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

Developing goods and services

When was the consumer "king"?

During the market oriented era

A core aspect of marketing, borrowed from economic, included a(n) ___________________, which is a transaction in which things of value are traded by buyers and sellers

Exchange

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

False

Which events helped create a situation in which manufacturers produced more than customers could buy? (Select all that apply.

Great depression and World War II

Services are:

Intangible customer benefits that cannot be separated from the producer

What were the primary characteristics of the market-oriented era that followed World War II?

It was a buyers market, and products, Products were designed to focus on consumers needs

When a firm has moved beyond a production or selling orientation and attempts to discover and satisfy its customersneeds and wants, the firms is___

Market oriented

Which of the following are components of price ?

Money, time, energy

Which company is most likely to be a value-driven firm ?

One that has active and engaging social media channels.

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

Price

____ is the component of the four Ps that aims to capture value

Price

____Is the part of the marketing mix that aims at creating value by providing features and benefits that meet consumers ' need

Product

Which of the following are elements of the marketing mix?

Product, price, place, and promotions

Manufacturers in the production-oriented marketing era at the turn of the 20th century were concerned with efficient ______, not with satisfying needs of consumers.

Production

Match the marketing mix component on the |eft) with its corresponding value function (on the right)

Product~ creating value Price- capturing Value Place - delivering Value Promotion- communicating value

What are supply chain partners? (Select all that apply.

Retailers, wholesalers, and transporters

When toothpaste manufacturer divides the marketplace into targets based on consumers' ages habits, this is an example of market___

Segmentation

Many of the most successful American firms believe that marketers should focus on which of the following beyond financial profitability

Social responsibility, and environmental friendly options

Value-oriented marketers engage in an ongoing process of balancing

the perceived benefit to customers and the price.

Goods are:

Tangible items