Section 1- What is Marketing?

Like for-profit organizations, nonprofit organizations also sell to other companies and consumers.

Which is a feature of nonprofit organizations?

Marketing activities do not occur separately from the rest of the company.

Which is the correct statement about the role of marketing in a company?

It produced customer awareness and purchases.

Which is the true statement about promotion as a component of the marketing mix?

Sales

Which marketing profession meetings with customers, determines their needs, proposes offerings, and ensures that the customer is satisfied?

"We strive to provide ethical products to our consumers at fair prices."

Which of the following best exemplified a mission statement?

Communicating

Which of the given options broadly involves describing offerings, as well as learning from customers in marketing?

Nonprofit organizations, like for-profit organizations sell to other companies.

Which statement is correct about nonprofit organizations?

marketing

Which term can be best defined as the process of repeatedly getting, serving, and keeping customers at a profit?

Social marketing

Which type of marketing is conducted by government agencies, nonprofit institutions, religious organizations, and others to achieve societal objectives?

market oriented (the degree to which a company follows the marketing concept)

are firms operating with that philosophy

Product- goods and services Promotions- produces customer awareness and purchases Place- getting the product to a point at which the customer can purchase it and developing or having "access" to the product at a store or online Price- the monetary amount charged for the product

A marketing plan is a mix of these four components

selling orientation

A philosophy that products must be pushed through selling and advertising in order for a firm to compete successfully.

It should mirror the production cost and reflect consumer demand.

As a component of the marketing mix, what is true about price?

marketing concept

At the same time, you need to achieve organizational goals, such as profitability and growth. This basic philosophy- satisfying customer needs while meeting organizational goals- is called the _______________________, and when it's effectively applied, it guides all of an organization's marketing activities.

nonprofit marketing

Choose the marketing profession that typically has small budgets and try to change behaviors without having a product to sell.

product orientation

Companies believed that a way to compete was to create products different from the competition, so many focused on product innovation. This focus on produced innovation is called the ____________________

customers

What is the focus of most companies' mission statements?

behavioral segmentation

Dividing consumers by such variables as attitude toward the product, user status, or usage rate is called ____________

value era

From the 1990's to the present, some argue that firms moved into the ______________, competing on the basic of value; others contend that the value era is simply an extension of the marketing era ( to fulfill the marketing concept) and is not a separate era.

marketing

What is the process of repeatedly getting , serving, and keeping customers at a profit called?

Marketing

How can the process of repeatedly getting, serving, and keeping customers at a profit be best termed?

It involves the contribution of satisfactions and IT professional.

How does digital media differ from direct marketing?

Marketing facilitates a higher quality of life.

How does marketing benefit society?

Like operations and accounting, marketing is a functional area in a company.

Identify the correct statement about the role of marketing in a company.

For-profit companies can be defined by the nature of their customers.

Identify the true statement about for-profit companies.

Delivering

In marketing, what involves getting offerings to the consumer in a way that optimizes value?

creating

In marketing, which of the following involves collaborating with suppliers and customers in order to generate offerings of value to customers?

Creating

In marketing, which of the following involves collaboration with suppliers and customers in order to generate offerings of value to customers?

social marketing

Marketing conducted in an effort to achieve certain social objectives can be done by government agencies, nonprofit institutions, religious organizations, and others is called ____________________

1. Selecting a target market 2. Developing your marketing mix

Marketing strategy- a plan for performing two tasks:

one-to-one era

Others call today's business environment the ________________________ (from the 1990's to the present, the idea of competing by building relationships with customers one at a time and seeking to serve each customers' needs individually)

Marketing facilitates a higher quality of life

Pick the way in which marketing is beneficial to society.

Nonprofit organizations, like for profit organizations sell to other consumers.

Select the correct statement regarding nonprofit organizations.

Product development

Select the marketing profession that is responsible for identifying and creating features that meet the needs of a firms customers.

A marketing strategy is not created solely by a firm's marketing personnel.

Select the statement that best describes the role of marketing in an organization.

user status

Some companies segment consumers according to ____________________, distinguishing among nonusers, potential users, first-time users, and regular users of a product.

Potential markets

The board of directors of a company wants to create a mission statement for its organization. Which factor is most often considered while doing so?

marketing era

The marketing concept was developed, and from about 1950 to 1990, business operated in the ______________________

market segments

The next step in identifying a target a target is to divide the entire market into smaller portions, or _____________________ - groups of potential customers with common characteristics that influence their buying decisions.

technology optimist- who embrace new technology technology pessimists- who are indifferent, anxious, or downright hostile when it comes to technology

They could rely on a segmentation scale developed by Forrester Research that divided consumers into two camps:

Business-to-consumer companies

What are companies that sell products to be used by consumers called?

creating, communicating, delivering, exchanging

What are the four activities of marketing?

A business-to-business company

What do you call a company that sells products to government agencies and to be used within another company's operations?

It divides a market into groups based on variables such as age, marital status, gender, ethnic background, income, occupation, and education.

What is an important feature of demographic segmentation?

value

What is at the center of everything marketing does?

It involves developing or providing access to a product at a store or online.

What is correct about place as a component of the marketing mix?

Digital media involves the contribution of statisticians and IT professionals.

What is the difference between digital media and direct marketing?

logistics

_____________ or the actual transportation and storage of materials and products, is the primary component of supply chain management, but there are other aspects of supply chain management

communicating

_________________ is a broad term in marketing that means describing the offering and its value to your potential and current customers, as well as learning from customers what it is they want and like

geographic segmentation

___________________ dividing a market according to such variables as climate, region, and population density (urban, suburban, small-town, or rural)- is also quite common.

Psychographic segmentation

____________________ classifies consumers on the basic of individual lifestyles as they are reflected in people/s interests, activities, attitudes, and values.

Demographic Segmentation

____________________ divides the market into groups based on such variables as age, marital status, gender, ethnic background, income, occupation, and education.

product orientation

a belief that the way to complete is a function of product innovation and reducing production costs, as good products appropriately prices sell themselves

marketing concept

a philosophy underlying all that marketers do, requires that marketers seek to satisfy customer wants and needs

selling era

in which the selling orientation dominated the way firms competed

Marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

company's offerings

the entire bundle of a tangible good, intangible service, and the price that composes what a company offers to customers

personal value equation

the net benefit a consumer receives from a product less the price paid for it and the hassle or effort expended to acquire it

service-dominate logic era

the period from 1990 to the present in which some believe that the philosophy of service-dominate logic dominates the way firms compete.

hassle

the time and effort the consumer puts into the shopping process

value

the total sum of benefits received that meet a buyers needs

marketing mix

the traditional way of viewing the components of marketing