BAS 282: Overview of Marketing: SmartBook

As a discipline, marketing is defined as an organizational function and set of processes for creating, communicating, and delivering ______ to customers.

value

Strategic planning helps to ensure that marketers will select and execute the right ______.

marketing mix.

Karme's Tire Shop is implementing the element of place in its marketing mix. Which of the following would be most helpful?

Identifying sites for new locations.

Which area of a firm relies most on marketing to drive the need to create products?

Operations/Technology

Marketing is an organizational function that benefits which groups?

* Employees * Investors * Customers

How does understanding marketing benefit people who are looking for jobs outside the marketing field?

* It helps them identify the skills and abilities they will need. * It helps them understand how to promote themselves. * It helps them set reasonable salary expectations.

Which statements about marketing strategies are true?

* Marketing strategies should be implemented as part of a strategic plan. * A successful marketing strategy can lead to a stronger brand and larger market share.

What are the four Ps?

* Price * Product * Promotion * Place

A marketing manager is responsible for strategic activities, including which of the following?

* Results monitoring. * Marketing objectives. * Product value propositions.

A marketing manager is responsible for which of the following operational activities?

* Social media for consumer relations. * Promotional campaigns for a product. * Graphic design for advertising.

For what two types of activities are marketing managers mainly responsible?

* Strategic * Operational

The role of the marketer within an organization involves ______.

* developing strategies that address the price, placement, and promotion of the firm's products. * scanning environmental factors inside and outside the firm. * focusing on the needs and wants of the firm's customers.

Which discipline can teach job seekers how to promote themselves effectively, no matter what field they go into?

Marketing

Which of the following does strategic planning specifically use to influence demand for goods, services, or ideas?

A marketing mix.

Which area of a firm relies most on marketing for inflows to track and cash flow to pay expenses?

Accounting

Who plays a role in the development of marketing strategy?

Everyone in the marketing department.

Which of the following is true of the function of marketing?

It keeps all of a firm's key functional areas going.

Latest Fashion, Inc., is implementing elements of the marketing mix. Which of the following could be used to implement the element of promotion?

Magazine ads

Abdullah runs a bakery in an urban location and wants to improve the element of product in his marketing mix. What should he do?

Offer a line of gluten-free donuts to meet his customers' needs.

Margot realized that her company's products cost on average 10 percent more than competitors' similar products. She wants to propose making at least one of the company's product lines less expensive. What part of the marketing mix is she considering?

Price

Zola is redesigning her line of candles in order to appeal to her customers' changing tastes when it comes to scents and colors. What part of the marketing mix is she considering?

Product

What do marketers use in order to ensure they have the right marketing mix?

Strategic Planning

What is the primary responsibility of marketers with respect to people?

To focus on the needs and wants of customers.

Many people consider marketing the most important function of a firm because it ______.

drives revenue.

The actions a firm must take to accomplish its marketing objectives is the ______.

marketing strategy

The first step in strategic planning is to ______.

select organizational objectives.

The process of defining the objectives of a company and then developing a method to achieve those objectives is known as __________ planning.

strategic

When a company carefully selects its goals and then creates a plan for reaching those goals, it is engaging in ______.

strategic planning

A marketing __________ is the set of actions taken to accomplish organizational objectives.

strategy