utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product.

__________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product.

Possession

What is the term for inventory and cash losses resulting from shoplifting and employee theft?

Shrinkage

what defines marketing?

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

A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market is the __________.

market segment

In a __________ orientation, management moves products out of warehouses so that inventories don't pile up.

selling

A __________ is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced.

want

product adaptation

A __________ strategy is a strategy in which a firm offers a similar but modified product in foreign markets.

What is a market segment? The market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. The four Ps—product, price, promotion, and place—make up the marketing mix. These are the tools an organization uses to create a desired response among a set of predefined customers. The target market is the segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands.

A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market

What is total quality management (TQM)?

A management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement Triple-bottom-line orientation looks at financial profits, the community in which the organization operates, and creating sustainable business practices. Return on investment (ROI) is the direct financial impact of a firm's expenditure of a resource, such as time or money. The attention economy is the measurement of a company's success by its share of mind rather than its share of market.

What is the value proposition?

A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased

What is the value proposition?

A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased The lifetime value of a customer is the potential profit that a single customer's purchase of a firm's products generates over the customer's lifetime. A distinctive competency is a superior capability of a firm in comparison with its direct competitors. The value chain is a useful way to appreciate all the players that work together to create value.

What is a mass market?

All possible customers in a market, regardless of the differences in their specific needs. A market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. A target segment is the segment(s) on which an organization focuses its marketing plan and toward which it directs its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands.

An oligopoly is a market structure in which a relatively small number of sellers, each holding a substantial share of the market, compete in a market with many buyers. Perfect competition is a market structure in which many sellers, all of whom offer similar products, are unable to have an impact on the quality, price, or supply of a product. A monopoly is a market situation in which one firm, the only supplier of a particular product, is able to control the price, quality, and supply of that product. Monopolistic competition is a market structure in which many firms, each having slightly different products, offer unique consumer benefits.

An oligopoly is a market structure in which a relatively small number of sellers, each holding a substantial share of the market, compete in a market with many buyers. Perfect competition is a market structure in which many sellers, all of whom offer similar products, are unable to have an impact on the quality, price, or supply of a product. A monopoly is a market situation in which one firm, the only supplier of a particular product, is able to control the price, quality, and supply of that product. Monopolistic competition is a market structure in which many firms, each having slightly different products, offer unique consumer benefits.

Which of the following describes a selling orientation approach to marketing?

Management moves products out of warehouses so that inventories don't pile up. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management prioritizes the satisfaction of customers' needs and wants in a consumer orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation.

what is social networking?

Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members Web 2.0 is a new generation of the World Wide Web that incorporates social networking and user interactivity. An open source model is a practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product. Physical URLs are new apps that enable user-generated clouds of content to form around products; barcode scans allow the user to upload content or see what others have already uploaded.

__________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product.

Possession Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed.

What is crowdsourcing?

THE CORRECT ANSWER A practice where firms outsource marketing activities (such as selecting an ad) to a community of users Crowdsourcing is a practice where firms outsource marketing activities (such as selecting an ad) to a community of users. Folksonomy is a classification system that relies on users rather than pre-established systems to sort contents. An open-source model is a practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product. Social media are Internet-based platforms that allows users to create their own content and share it with others who access these sites.

With regard to the marketing mix, how is place defined?

The availability of the product to the customer at the desired time and location Promotion is the coordination of a marketer's communication efforts to influence attitudes or behavior. A product is a tangible good, service, idea, or some combination of these, that satisfies consumer or business customer needs through the exchange process. Price is the assignment of value, or the amount the consumer must exchange to receive the offering.

form

The benefit marketing provides by transforming raw materials into finished products is known as __________ utility.

Which of the following best describes triple-bottom-line orientation?

The building of long-term bonds with customers rather than merely selling them stuff Customer relationship management (CRM) is the tracking of consumers' preferences and behaviors over time in order to tailor the value proposition to individuals' unique wants and needs. A consumer orientation is a business approach that prioritizes the satisfaction of customers' needs and wants. A production orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products.

The four Ps—product, price, promotion, and place—make up the marketing mix. These are the tools an organization uses to create a desired response among a set of predefined customers.

The target market is the segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands.

What is the marketing mix?

Tools an organization uses to create a desired response among a set of predefined customers The segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts is known as the target market. The market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. Market position is how the target market perceives the product in comparison with competitors' brands.

Which of the following describes a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement?

Total quality management (TQM) Total quality management (TQM) is a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement. Triple-bottom-line orientation looks at financial profits, the community in which the organization operates, and creating sustainable business practices. Return on investment (ROI) is the direct financial impact of a firm's expenditure of a resource, such as time or money The attention economy is the measurement of a company's success by its share of mind rather than its share of market.

Which orientation is described as the building of long-term bonds with customers rather than merely selling them stuff?

Triple-bottom-line Customer relationship management (CRM) is the tracking of consumers' preferences and behaviors over time in order to tailor the value proposition to individuals' unique wants and needs. A consumer orientation is a business approach that prioritizes the satisfaction of customers' needs and wants. A production orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products.

Marketing

Which of the following is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large?

Extortion is when someone in authority extracts payment under duress. Bribery is when someone voluntarily offers payment to get an illegal advantage.

_______ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. possession Possession utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed. Which of the following describes a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement? Total quality management (TQM) Total quality management (TQM) is a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement. Triple-bottom-line orientation looks at financial profits, the community in which the organization operates, and creating sustainable business practices. Return on investment (ROI) is the direct financial impact of a firm's expenditure of a resource, such as time or money The attention economy is the measurement of a company's success by its share of mind rather than its share of market. The segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts is the __________. target market A firm's capability that is superior to that of its competition is known as a __________. distinctive competency What is a market segment? The market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. The four Ps—product, price, promotion, and place—make up the marketing mix. These are the tools an organization uses to create a desired response among a set of predefined customers. The target market is the segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands. A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market In a consumer orientation, management __________. prioritizes the satisfaction of customers' needs and wants In a consumer orientation, management prioritizes the satisfaction of customers' needs and wants. Management moves products out of warehouses so that inventories don't pile up in a selling orientation. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation. In a __________ orientation, management moves products out of warehouses so that inventories don't pile up. selling In a selling orientation, management moves products out of warehouses so that inventories don't pile up. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management prioritizes the satisfaction of customers' needs and wants in a consumer orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation. What is crowdsourcing? THE CORRECT ANSWER A practice where firms outsource marketing activities (such as selecting an ad) to a community of users Crowdsourcing is a practice where firms outsource marketing activities (such as selecting an ad) to a community of users. Folksonomy is a classification system that relies on users rather than pre-established systems to sort contents. An open-source model is a practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product. Social media are Internet-based platforms that allows users to create their own content and share it with others who access these sites. what is social networking? Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members Web 2.0 is a new generation of the World Wide Web that incorporates social networking and user interactivity. An open source model is a practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product. Physical URLs are new apps that enable user-generated clouds of content to form around products; barcode scans allow the user to upload content or see what others have already uploaded. Which of the following is an intangible product that you might pay for but never own? service Industrial goods are tangible products like aluminum that organizations buy for further processing or for their own use when they do business. A book is an example of a consumer good, which is a tangible product that you might purchase for personal use. E-commerce is the process of buying and selling products, such as shoes, on the Internet. What is the term for inventory and cash losses resulting from shoplifting and employee theft? Shrinkage Management prioritizes the satisfaction of customers' needs and wants in a __________ orientation. consumer Which of the following is a practice where firms outsource marketing activities (such as selecting an ad) to a community of users? crowdsourcing The availability of the product to the customer at the desired time and location is known as __________. place What is a marketing strategy that supports environmental stewardship, thus creating a differential benefit in the minds of consumers? green marketing A __________ is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced. want A want is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced. A need is the difference between a consumer's actual state and some ideal or desired state. A benefit is what a product delivers when it satisfies a need or want. Demand occurs when you couple customers' desires for products with the resources needed to obtain them. Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members are known as __________. social networking With regard to the marketing mix, how is place defined? The availability of the product to the customer at the desired time and location Promotion is the coordination of a marketer's communication efforts to influence attitudes or behavior. A product is a tangible good, service, idea, or some combination of these, that satisfies consumer or business customer needs through the exchange process. Price is the assignment of value, or the amount the consumer must exchange to receive the offering. What is total quality management (TQM)? A management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement Triple-bottom-line orientation looks at financial profits, the community in which the organization operates, and creating sustainable business practices. Return on investment (ROI) is the direct financial impact of a firm's expenditure of a resource, such as time or money. The attention economy is the measurement of a company's success by its share of mind rather than its share of market. What is the value proposition? A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased The lifetime value of a customer is the potential profit that a single customer's purchase of a firm's products generates over the customer's lifetime. A distinctive competency is a superior capability of a firm in comparison with its direct competitors. The value chain is a useful way to appreciate all the players that work together to create value. Which orientation is described as the building of long-term bonds with customers rather than merely selling them stuff? Triple-bottom-line Customer relationship management (CRM) is the tracking of consumers' preferences and behaviors over time in order to tailor the value proposition to individuals' unique wants and needs. A consumer orientation is a business approach that prioritizes the satisfaction of customers' needs and wants. A production orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products. Which of the following describes a selling orientation approach to marketing? Management moves products out of warehouses so that inventories don't pile up. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management prioritizes the satisfaction of customers' needs and wants in a consumer orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation. Which of the following is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large? marketing Product orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products. A review of the sales, costs, and profit projections for a new product is known as business analysis. Comparing the company's products and processes with those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance is known as benchmarking. Possession utility is the benefit marketing provides by __________. allowing the consumer to own, use, and enjoy the product Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed. A want is __________. a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced __________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. Possession Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed. What is a mass market? All possible customers in a market, regardless of the differences in their specific needs. A market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. A target segment is the segment(s) on which an organization focuses its marketing plan and toward which it directs its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands. A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased is known as the __________. value proposition The lifetime value of a customer is the potential profit that a single customer's purchase of a firm's products generates over the customer's lifetime. A distinctive competency is a superior capability of a firm in comparison with its direct competitors. The value chain is a useful way to appreciate all the players that work together to create value. What is the marketing mix? Tools an organization uses to create a desired response among a set of predefined customers The segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts is known as the target market. The market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market. Market position is how the target market perceives the product in comparison with competitors' brands. In a __________ orientation, management moves products out of warehouses so that inventories don't pile up. selling Which of the following best describes triple-bottom-line orientation? The building of long-term bonds with customers rather than merely selling them stuff Customer relationship management (CRM) is the tracking of consumers' preferences and behaviors over time in order to tailor the value proposition to individuals' unique wants and needs. A consumer orientation is a business approach that prioritizes the satisfaction of customers' needs and wants. A production orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products. What is the value proposition? A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased Possession utility is the benefit marketing provides by __________. allowing the consumer to own, use, and enjoy the product Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed. form The benefit marketing provides by transforming raw materials into finished products is known as __________ utility. what defines marketing? The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market is the __________. market segment The four Ps—product, price, promotion, and place—make up the marketing mix. These are the tools an organization uses to create a desired response among a set of predefined customers. The target market is the segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts. Market position is how the target market perceives the product in comparison with competitors' brands. Product, price, promotion, and place make up the __________. marketing mix Marketing Which of the following is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large? A __________ is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced. want Form utility is the benefit marketing provides by __________. transforming raw materials into finished products All possible customers in a market, regardless of the differences in their specific needs, are known as a __________. mass market __________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. Possession Extortion is when someone in authority extracts payment under duress. Bribery is when someone voluntarily offers payment to get an illegal advantage. Dumping is when a company tries to get a toehold in a foreign market by pricing its products lower than it offers them at home. Expropriation is when a domestic government seizes a foreign company's assets without any reimbursement.

A want is __________.

a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced

Possession utility is the benefit marketing provides by __________.

allowing the consumer to own, use, and enjoy the product Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed.

Possession utility is the benefit marketing provides by __________.

allowing the consumer to own, use, and enjoy the product Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed.

Management prioritizes the satisfaction of customers' needs and wants in a __________ orientation.

consumer

Which of the following is a practice where firms outsource marketing activities (such as selecting an ad) to a community of users?

crowdsourcing

A firm's capability that is superior to that of its competition is known as a __________.

distinctive competency

What is a marketing strategy that supports environmental stewardship, thus creating a differential benefit in the minds of consumers?

green marketing

Which of the following is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and societies at large?

marketing Product orientation is a management philosophy that emphasizes the most efficient ways to produce and distribute products. A review of the sales, costs, and profit projections for a new product is known as business analysis. Comparing the company's products and processes with those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance is known as benchmarking.

Product, price, promotion, and place make up the __________.

marketing mix

All possible customers in a market, regardless of the differences in their specific needs, are known as a __________.

mass market

The availability of the product to the customer at the desired time and location is known as __________.

place

_______ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product.

possession Possession utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. Form utility is the benefit marketing provides by transforming raw materials into finished products. Place utility is the benefit marketing provides by making products available where customers want them. Time utility is the benefit marketing provides by storing products until they are needed.

In a consumer orientation, management __________.

prioritizes the satisfaction of customers' needs and wants In a consumer orientation, management prioritizes the satisfaction of customers' needs and wants. Management moves products out of warehouses so that inventories don't pile up in a selling orientation. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation.

In a __________ orientation, management moves products out of warehouses so that inventories don't pile up.

selling In a selling orientation, management moves products out of warehouses so that inventories don't pile up. Management emphasizes the most efficient ways to produce and distribute products in a production orientation. Management prioritizes the satisfaction of customers' needs and wants in a consumer orientation. Management builds long-term bonds with customers in a triple-bottom-line orientation.

Which of the following is an intangible product that you might pay for but never own?

service Industrial goods are tangible products like aluminum that organizations buy for further processing or for their own use when they do business. A book is an example of a consumer good, which is a tangible product that you might purchase for personal use. E-commerce is the process of buying and selling products, such as shoes, on the Internet.

Online platforms that allow users to represent themselves via a profile on a Web site and provide and receive links to other network members are known as __________.

social networking

The segment(s) on which an organization focuses its marketing plan and toward which it develops its marketing efforts is the __________.

target market

Form utility is the benefit marketing provides by __________.

transforming raw materials into finished products

A marketing offering that fairly and accurately sums up the value that will be realized if the good or service is purchased is known as the __________.

value proposition The lifetime value of a customer is the potential profit that a single customer's purchase of a firm's products generates over the customer's lifetime. A distinctive competency is a superior capability of a firm in comparison with its direct competitors. The value chain is a useful way to appreciate all the players that work together to create value.

A __________ is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced.

want A want is a desire for a product used to satisfy a need in specific ways that are culturally and socially influenced. A need is the difference between a consumer's actual state and some ideal or desired state. A benefit is what a product delivers when it satisfies a need or want. Demand occurs when you couple customers' desires for products with the resources needed to obtain them.