MK-004 #1

Problem solver.

Identify the term that best represents marketing's role in society....Of the options given, problem solver is the term that best represents marketing's role in society. Marketing connects producers to customers by solving customers' problems. Pioneers lead and peacemakers make peace--with or without being involved in marketing or its role in society.

Process.

Marketing can best be thought of as a(n)....Marketing is not just one activity; rather, it is a process composed of many interrelated activities that direct the flow of goods, services, and ideas from the producer to the consumer. The responsibility for a company's marketing efforts may or may not be assigned to a specific department.

Promotion.

West Lake Yacht Club wishes to increase membership and has placed several advertisements in local boating magazines and brochures. This advertising increase is an example of.... Promotion involves communicating information about goods, services, images, and/or ideas to achieve a desired outcome. Pricing involves determining and adjusting prices to maximize return and meet customers' perceptions of value. Production is the creation of goods and services. Publicity is any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from it.

CD player.

Which of the following is an example of a durable good:....Durable goods are intended to last a relatively long period of time. Nondurable goods, such as pizza or shampoo, are eventually used up. A haircut is a service rather than a good.

Selling, pricing, promotion, and channel management.

Some of the major functions of marketing are....The functions of marketing include product/service management, marketing-information management, pricing, channel management, promotion, and selling. Production is an operations activity, and operations is a business function. Planning is a management function. Market identification is an activity that occurs during the marketing-research process, which is part of the marketing-information management function of marketing.

Production and consumption.

The general role of marketing in our private enterprise system is to coordinate....In effect, marketing serves as the connecting link, or bridge, between producers and consumers. Selling, distribution, and pricing are marketing functions. The relationship between government and business is monitored by the legal system.

Customer.

The marketing concept emphasizes the importance of a __________-oriented way of doing business....The marketing concept is a philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals. The functions of business, such as production and accounting, must be coordinated in order for the company to carry out the marketing concept.

Improved the quality of life. Marketing has improved the quality of life by encouraging the development of safer, better goods and services. In addition, marketing has increased awareness of the need for environmental controls to protect our physical surroundings, which has led to an improvement in our existence. Making people aware of the need for environmental controls does not add usefulness to products or make buying more convenient, although those are other benefits of marketing. Marketing does not regulate the standard of living but usually helps to raise it by improving the general conditions in which people live.

By increasing awareness of the need for environmental controls, what has marketing done?....Marketing has improved the quality of life by encouraging the development of safer, better goods and services. In addition, marketing has increased awareness of the need for environmental controls to protect our physical surroundings, which has led to an improvement in our existence. Making people aware of the need for environmental controls does not add usefulness to products or make buying more convenient, although those are other benefits of marketing. Marketing does not regulate the standard of living but usually helps to raise it by improving the general conditions in which people live.

Standard of living.

One of the ways in which marketing benefits people is by improving their.... Standard of living is the way, or manner, in which people live. It is usually measured by the quantity and quality of the goods and services that people own and use. Our marketing system has given the United States one of the highest standards of living in the world. Community relations refers to a company's involvement or relationship with the community. Family ties are intrafamilial relationships. A planned economy is an economic system in which the government makes all the decisions.

Offering a variety of goods and services.

The most immediate impact of the marketing function is its relation to.... Because marketing businesses must compete to attract customers, they offer a variety of goods or services in many styles, models, colors, and sizes. This gives consumers many items and price ranges from which to choose. It also increases the number of products that are offered and helps to maintain reasonable prices. The most immediate impact of the marketing function is not its relation to meeting government regulations for registration or ensuring least-cost pricing.