Chapter 1

satisfied

The goal of a marketing exchange is that the parties to the transaction be

marketing mix

The video mentions how firms compete on price point, store design, and the product itself. These are all elements of a firm's

promotion

To communicate to consumers that its products are both healthy and delicious, Red Mango would use which of the 4 Ps?

need and wants

Understanding consumers' ________ is fundamental to marketing success.

customer relationship management

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as

Product

A firm that creates value by developing a variety of offerings including goods, services, and ideas is doing so through which element of the four Ps?

Ideas

A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which of the following marketing offerings?

Goods

Apple's iPad is an example of which of the following types of marketing offerings?

value co-creation

Customers can use the self-service area to customize their own dish of frozen yogurt. In marketing terms, Red Mango is engaging these customers in

Product

Dunkin' Donuts offers coffee and donuts that are "familiar with a twist"—popular items that are available all the time, and seasonal specials like pumpkin spice coffee and heart shaped donuts. This "familiar with a twist" approach is an example of which of the four Ps?

service

Having employees make smoothies for customers represents which aspect of a product offering?

place

If Mom places the highest value on convenience when looking for a cup of coffee, which of the marketing mix components is she most concerned with?

value cocreation.

If Vosges were to create a website allowing customers to invent their own "recipes" for chocolate bars, which Vosges would then manufacture, this would be an example of

CRM program

In the DDPerks loyalty program, customers earn points for each purchase and are awarded free coffee each time they earn 200 points. Loyalty programs are part of a(n)

product

Joe to Go offers donuts with its simple cup of black coffee that customers serve themselves. In doing so, the company is attempting to create value for Dad and other customers through which element of the four Ps?

marketing analytics

Kroger collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to

place

Redbox uses the ________ element of the marketing mix to make movie rentals available for customers when and where they need them.

marketing plan

The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers.

marketing mix

The ________ consists of the product, price, place, and promotion of an offering.

production oriented

The ________ era embraced the belief that a good product would sell itself.

product

The unusual types of ingredients Vosges uses, as described in the video, are part of which element of the four Ps?

providing a luxury experience for consumers through innovation.

Vosges Haut-Chocolat creates value for customers by

B2C (business-to-consumer)

Vosges' chocolate sales are examples of ___ marketing.

B2B (business-to-business)

When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.

Good and services

When an optical center provides eye exams and new contact lenses as its offering, it is an example of which the following combinations?

promotion

When marketers communicate the value proposition, it involves the ________ element of the marketing mix.

Place

Which marketing mix element deals specifically with retailing and marketing channel management?

Vosges sells its product through carefully-selected, high-end retailers, and also in its own boutiques.

Which of the following best describes how Vosges handles the Place element of the four Ps?

Price

Which of the following marketing mix variables is involved in the capture of value in the marketing exchange?

Dunkin Donuts studies where people work, play, live and go to school.

Which of the following statements shows how Dunkin Donuts considers the "Place" element of the four Ps?