MKT 340 Exam 1

Marketing enriches society by

creating charitable campaigns

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that

no single strategy is likely to be sufficient to build a sustainable competitive advantage

Firms achieve ________ through efficient procedures and excellent supply chain management

operational excellence

When Marvel launched several successful series on Netflix, including Jessica Jones, The Defenders, Iron Fist, and Luke Cage, it employed a _________ strategy.

product development

For companies, what digital marketing tool can both educate and excite customers?

corporate blog

Marketing involves conducting exchanges, satisfying customer needs and wants, and

creating value

Audi's mission statement addresses urbanization, the need to work on traffic flows and safety in urban areas. To that end, Audi is working with Airbus to develop the Pop.Up Next driving and flying transport system that will enable vertical individual mobility. The strategic planners are engaged in

defining the business mission

If a firm wants to develop a sustainable competitive advantage, it should

examine its operations and customer relations to identify significant things competitors cannot easily copy

Marvel has increased its market penetration by expanding the distribution of its films. Marvel movies can be seen in theaters, accessed on Xfinity, and viewed on DVDs available in discount stores, grocery stores, and a host of other stores, including book and comic stores. This is an example of a __________ growth strategy.

market penetration

Starbucks carefully crafts its offerings and advertising message, and it strategically sets prices and selects locations to appeal to its target market. These efforts represent Starbucks'

positioning strategy

Which element of the marketing mix is most relevant to the activity "creating value"?

product

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including product, place, price, and

promotion

Even when large discount retailers enter a market, a few small, local retailers survive and prosper. These small retailers have probably developed a(n) ________ that allows them to survive.

sustainable competitive advantage

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy

Which of the following encourages visitors to delve deeper into a website, to explore other pages and, in general, spend more time on the site?

call-to-action buttons

In value-based marketing, the promotion element of the four Ps communicates the ________ to customers through a variety of media.

value proposition

What effect of social media engagement is achieved when individuals post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook?

connected effect

One example of a customer loyalty program is

a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases

What is a microblog?

a blog that allows people to share their thoughts, opinions, and feelings