marketing 320

Sandra is walking down the street and finds herself in the mood for an ice cream cone. A few blocks later she passes an ice cream shop. Which of the four Ps is most at play here?

Place

Which of the following is the part of the marketing mix that seeks to create value by providing features and benefits that meet consumers' needs?

Product

In the marketing mix, which element of the four Ps communicates value to the consumer?

Promotion

When JetBlue Airlines provides travelers with in-flight WiFi shopping, it is Blank______ to satisfy customer needs.

creating value

When did the high degree of power held by the consumer lead to firms discovering marketing?

during the market-oriented era

What were the primary characteristics of the market-oriented era that followed World War II?

- It was a buyer's market - products were designed to focus on consumers' needs.

Which of the following are considered ideas?

An opinion, a philosophy

Like Timex, Rolex makes watches. How does Rolex add unique value to its products?

By conferring status

C2C

CONSUMER TO CONSUMER

____________ is the component of the four Ps of marketing that is used by marketers to inform, persuade, and remind potential buyers about a product or service to influence their opinions and produce a response.

Promotion

An environmental nonprofit organization is using Instagram to market the idea that reducing greenhouse gas emissions is a good way to reduce climate change. In this scenario, when does the value exchange occur?

When its Instagram followers reduce their greenhouse gas emissions

Fast Bean sells coffee to Federico to brew and drink at home. This is an example of business-to-______ marketing.

consumer

When a firm has moved beyond a production or selling orientation and attempts to discover and satisfy its customers' needs and wants, the firm is ______.

market oriented

Which of the following are elements of the marketing mix? (Choose every correct answer.)

price, product

Manufacturers in the production-oriented marketing era at the turn of the 20th century were concerned with efficient ______, not with satisfying the needs of consumers.

production

A company's Blank______ create(s) value by satisfying customer needs.

products, services, or ideas

Marketers use ______ to inform, persuade, and remind potential buyers about a product or service to influence their opinions and elicit a response.

promotion

______ is the part of the marketing mix that communicates the value of the product to the consumer.

promotion

A ______ is any intangible offering that involves a performance or an effort by the provider that cannot be physically possessed, inventoried, or otherwise held.

service

Getting cash from an ATM is considered a(n) Blank______ transaction.

service

In a marketing context, customers seek a fair return in goods and/or services for their hard-earned money and scarce time. They are seeking ______, which reflects the relationship of benefits to costs, or what you get for what you give.

value

Firms become value driven by focusing on which of the following activities?

- Building relationships - Balancing customer benefits and costs - Sharing information

Which events helped create a situation in which manufacturers produced more than customers could buy?

- World War II - The Great Depression

Which of the following are related to marketing in the production-oriented era?

- manufacturers were concerned with product innovation, not with satisfying the needs of individuals - retail stores were considered places to hold inventory until it was sold.

Which of the following characterizes an exchange?

A buyer and seller trade things of value, leaving each better off than before.

An environmental nonprofit organization's Instagram channel encourages citizens to reduce their greenhouse gas emissions. What type of product is it selling?

An idea

The process by which businesses sell to consumers is known as ______ marketing.

B2C

B2B

BUSINESS TO BUSINESS

B2C

BUSINESS TO CONSUMER

Which of the following is NOT an example of a service?

Buying a new car

Which entity does NOT market to the other entity?

Customers to businesses

If a car manufacturer wanted to segment its marketplace, it would do which of the following?

Divide consumers into groups based on their incomes, Organize potential customers into groups based on their age, and Identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans)

T/F: For consumers, good value means that a product or service is inexpensive.

False

How does ad revenue benefit consumers?

It enables companies to offer free services to consumers.

Which of the following best describes goods?

Items you can touch

Which of the following are services airlines frequently offer to create value for customers? (Choose every correct answer.)

Many flights to destinations consumers want and in-flight WiFi shopping opportunities

Which are supply chain partners?

Retailers, Wholesalers, Transporters

What would happen to the global economy if all marketing ceased?

The global economy would plummet.

Which of the following is true of services?

They cannot be separated from the producer.

Modern marketers use ______ to focus how they approach their customers and market their products.

data analytics

Services are intangible customer benefits, whereas Blank______ are tangible items that you can physically touch.

goods

Products include goods and services, as well as _______ , which are thoughts, opinions, and philosophies that can be marketed, just as goods and services can

ideas

During the sales-oriented era, ______.

manufacturers had the capacity to produce more than consumers were able to buy

Which of the following are components of price?

money, time, energy

Which element of the four Ps embodies all activities needed to get the product to the right customer when and where that customer wants it?

place

Which of the four Ps represents all activities necessary to get an offering to the right customer when that customer wants it?

place

Large corporations collect vast amounts of information about their customers' shopping habits, including how, when, why, where, and what they buy, and then use that information to ______.

plan future products and services

Of the four Ps, ___________ is whatever the buyer gives up in exchange for the product, including money, time, or energy.

price

Product, the first of the four Ps, is responsible for ______.

satisfying customer needs

A toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer. This is an example of market:

segmentation

Value-oriented marketers engage in an ongoing process of balancing ______.

the perceived benefit to customers and the price

T/F: In the marketing mix, place attempts to deliver value by making the product or service available when and where the consumer needs or wants it.

true

When firms provide customers an opportunity to act as collaborators in creating the product or service, it is called ______.

value cocreation