Marketing

Ultimate consumers ?

Use goods and services purchased for a household .

Customer value is the unique combination of benefits received by targeted buyers _______ ?

at a specific price .

The influence of social responsibility can be illustrated by a firm's ?

behavior .

Customer value reflects the relationship of a combination of ____ relative to a specific price, or what the customer gets for what she gives .

benefits .

In addition to an emphasis on consumers' interests, new expectations of marketers now include ?

consideration of social and environmental consequences of their actions.

The internal response that customers have to all aspects of an organization and its offering is known as the ?

customer experience

CRM stands for ?

customer relationship management

Social, economic, technological, competitive, and regulatory forces that are mostly beyond the control of the marketer are known as _____ forces.

environmental .

Many business people believe that marketing should focus on factors other than financial goals, such ?

ethics .

True or false: Marketing can only be performed by a retailer to a consumer.

false .

A local library that is promoting enhanced reading skills is an example of marketing ?

ideas .

A marketing program ____ the marketing mix elements to provide a good, service, or idea to prospective buyers.

integrates .

The essence of successful marketing is that firms provide unique value in order to gain ?

loyal customers .

Marketing directly supports _____ by helping to provide customer-satisfying products.

management goals .

Successful airlines create value by offering ?

many flights to destinations the consumer wants.

When a firm has transcended a production or selling orientation, and attempts to discover and satisfy its customer's needs and wants, the firm is ?

market-oriented .

When manufacturers, wholesalers, retailers, and government agencies purchase goods and services they are known as ?

organizational buyers.

During the sales-oriented era, firms found an answer to their ______ by adding salespeople to find new buyers.

overproduction .

In many settings, relationship marketing is more effective when there is ?

personal ongoing communication between parties.

Of the 4 Ps, _____ is whatever the buyer gives up in exchange for the product: for example, money, time, or energy.

price .

_____ is the part of the marketing mix that aims at creating value for the consumer by providing features and benefits for the consumer needs.

product .

Homemakers that make due with whatever type of pantry goods they could acquire is an example of which marketing orientation among businesses of that era?

production .

The statement by Henry Ford that his automobile customers "can have any color they want so long as it's black" is an example of the _____ orientation in business.

production .

McDonald's provides many items on its menu, primarily to ____ its many types of customers.

satisfy

When Lexus markets only to those customers who can afford to buy a Lexus hybrid, the company is aiming to attract consumers in its ?

target market .

Which of the following two principles comprise the marketing concept?

1. An organization should try to achieve its own goals. 2. An organization should strive to satisfy the needs of consumers.

Marketing is the activity for _____ offerings that benefit the organization, its stakeholders, and society at large.

1. Creating . 2. Delivering . 3. Communicating .

Match each marketing era to the correct description

1. Customer-relationship era : Firms seek continuously to satisfy the high expectations of those they serve. 2. Marketing Concept era : Orgs focus on identifying customer needs and using this to create value. 3. Production era : Buyers accept virtually any goods because of the relative scarcity of them. 4. Sales era : Manufacturers can produce more goods and need help to find new buyers.

For which of the following reasons is marketing considered beneficial ?

1. Marketing creates utility for customers. 2. Marketing can improve global competition.

Who benefits from effective marketing?

1. Organizations who sell. 2. Consumers who buy. 3. Companies who manufacture products.

Which of the following are types of utility received by users of a product?

1. Possession . 2. Form .

Match the marketing mix component to its definition.

1. Price: What is exchanged for the product. 2. Place: A means of getting the product to the consumer. 3. Promotion: A means of communication between seller and buyer. 4. Product: A good, service, or, idea to satisfy needs.

Which two of the following are characteristic of the marketing concept era?

1. Product design focused on consumer needs. 2. Marketing was integrated into each phase of business.

Put the following business orientations in the correct historical order, oldest to newest.

1. Production era. 2. Sales era. 3. Marketing concept era. 4. Customer relationship era.

To serve both buyers and sellers, marketing, broadly speaking, seeks to do what ?

1. Satisfy the needs and wants of customers. 2. Discover the needs and wants of prospective customers.

The marketing department shapes and is shaped by many external people, organizations, and forces. Which of the following are such groups, but would not be considered an environmental force?

1. Shareholders. 2. Customers.

Marketing typically impacts what groups in society ?

1. Suppliers. 2. Owners. 3. Customers.

Which of the following are reasons to learn about marketing?

1. To become a more informed citizen. 2. To help in your career planning. 3. To become a better consumer.

Which of the following is an example of an environmental force?

A contraction of the economy nationwide.

Which of the following is the best example of a large corporation using technology to realize the benefits of relationship marketing?

Apple allows customers to place an Internet order for a unique and personalized product.

Firms that employ ____ systematically collect information about their customers' needs. It is sometimes possible to use that information to target their best customers with the goods, services, and special promotions that appear most important to those customers.

CRM .

Which of the following might be exchange when marketing occurs?

Information, money, intangible services, and satisfaction

Customer experience is ?

the internal response that customers have to all aspects of an organization and its offerings .

Which of the following is characteristic of marketing in the production era?

Manufacturers could not keep up with customer demand .

During the sales-oriented era ?

Manufacturers had the capacity to produce more than consumers were able to buy.

Which of the following concepts is NOT critically important to an organization's marketing program?

Organizational Structure

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

Place .

Match the types of utility with their definition

Place: having the product available where consumers need it. Form: the production of the good or service. Possession: making an item easy to purchase. Time: having the product available when needed.

________ is the part of the marketing mix that communicates the value of the product to the consumer in many ways, such as advertising, social, media, and public relations.

Promotion .

_____ marketing links the organization to its customer, employees, suppliers, and other partners for mutual long-term benefits.

Relationship .

Which of the following is true of the relationship between society and marketing activities?

Society affects marketing and sometimes marketing has an important impact on society.

True or false: The key to best serve both buyers and sellers is to trade things of value so that each is better off after the trade.

true .

For marketing to occur, there must be an exchange, which in the purchase of a magazine would be which of the following?

The magazine and the money

Often there are differing interests among groups internal and external to an organization. How should these be handled?

The organization should seek a balance among differing interests.

Customer ____ reflects the relationship of benefits to price, or what you get for what you give .

value proposition .

When Apple first introduced the personal computer to the market, creating a new industry, consumers did not know ?

what the benefits would be.