Marketing 3010 Quiz 1 (WSU)

Which of the following eras is NOT one of the eras that the Marketing Concept has evolved from? a) Production Orientation Era b) Selling Orientation Era c) Advertising Orientation Era d) Consumer Orientation Era

Advertising Era.

Which of the following is not considered one of the types of utility benefits that a product provides? a) Possession utility b) Place utility c) Time utility d) All of the above

All of the above are correct.

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

False.

A need is a difference between a consumer's actual state and some unattainable state.

False.

The four "P's" of the Marketing Mix are product, price, placement, and profit.

False. The four P's are product, place, price, and PROMOTION.

Which of the following is NOT considered one of the activities that are used to promote a product? a) Personal Selling b) Advertising c) Coupons d) Price

Price

The steps of target marketing consist of each of the following except which one? a) Segment the market b) Select a target market c) Position the product for that market d) Set the price

Set the price.

A consumer is the ultimate user of a good or service.

True.

A market consists of all consumers who share a common need that can be satisfied by a specific product or service and who have the resources, willingness, and authority to make the exchange.

True.

A marketing plan is developed and implemented to help a marketer meet their long-term objectives.

True.

A product is a good, service, idea, place, person --whatever is offered for sale in an exchange.

True.

Industrial goods are bought by organizations for further processing or for use in their business operations.

True.

Place refers to the availability of the product to the customer at the desired time and location.

True.

Production orientation works best in a seller's market when demand is greater than supply.

True.

Promotion includes all of the activities marketers undertake to inform consumers or organizations about their products, and to encourage potential customers to buy those products.

True.

Services are intangible products that we pay for and use but never own.

True.

A benefit

is delivered by a product when it satisfies a need or a want

Consumer orientation

is designed to satisfy customers' needs and wants.

Market positioning

is how the marketer wants the target market to perceive the product in comparison to competitors' brands.

Marketing positioning

is how the marketer wants the target market to perceive the product in comparison to competitors' brands.

Marketing

is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Production orientation

works best in a seller's market when demand is greater than supply.

Customer relationship management

Concept that sees marketing as a process of building long-term relationships with customers to keep them satisfied and to keep them coming back.

Mass Market

Consists of all possible customers in a market, regardless of the differences in their specific needs and wants.

The increase of the Internet has opened up which of the following eras? a) E-Marketing Era b) Internet Marketing Era c) The Yahoo Era d) The Ebay Era

E-Marketing Era

Marketing is a decision process in which marketing managers determine the strategies that will help the organization meet its long-term objectives. To do this, marketers develop and implement _____. a) Calendars b) Marketing Plans c) Media Plans d) Media Budgets

Marketing Plans