Quiz 1

_________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

Strategic planning

A __________ documents an organization's purpose--what it means to accomplish in the larger environment.

A mission statement

A company's broad mission leads it to develop all of the following EXCEPT _________. -Sales objectives -Budget objectives -Business objectives -Marketing objectives

Business objectives

Consumer research, product development, communication, distribution, pricing and service are all core _________ activities.

Marketing

A _______ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Marketing offering

The art and science of choosing target markets and building profitable relationships with them is called ________.

Marketing segment

Mission statements should be _________.

Meaningful and specific yet motivating

Orion, Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.

Mission statement

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

Value creation and exchange