Principles of Marketing 3013

If a car manufacturer wanted to segment its marketplace, it would do which of the following? (Select all that apply.) Multiple select question. a)Divide consumers into groups based on their incomes b)Organize potential customers into groups based on their age c)Offer the same car model to all consumers in the marketplace d)Identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans)

A,B,D

Approximately how many people connect to social media worldwide through their mobile devices? About 1.6 billion About 8 billion About 4.2 billion About 10 billion

About 4.2 billion

In what situation are you most likely to market yourself? Multiple choice question. While shopping at a farmers' market At your place of worship While working out at the gym At a job interview

At a job interview

When did the production era of marketing evolution occur? Multiple choice question. From the creation of the Internet through the present From the end of World War II to the present day At the turn of the 20th century From the 1920's through the 1950's

At the turn of the 20th century

When consumers market products to other individuals, it is known as Blank______ marketing. Multiple choice question. B2C C2B C2C B2B

C2C

Marketing is the activity, set of institutions, and processes that create, capture, communicate, and Blank______ value. Multiple choice question. A) reduce B) replicate C) justify D) deliver

D) deliver

When did the high degree of power held by the consumer lead to firms discovering marketing? Multiple choice question. During the production-oriented era During the sales-oriented era During the value-based marketing era During the market-oriented era

During the market-oriented era

A core aspect of marketing, included a(n) ___________________, which is a transaction in which things of value are traded by buyers and sellers

Exchange

Which of the following is the most helpful to a firm in ensuring that its merchandise will be readily and efficiently available in stores, so that consumers are not disappointed and the firm's profits do not suffer? Multiple choice question. Domestic sales representatives Discount pricing Marketing channel management An online ordering system

Marketing channel management

Which scenario illustrates how marketing has a direct impact on consumers? Marketing advises production about how much product to manufacture. Marketing creates long-lasting relationships between the firm and its suppliers. Marketing helps consumers learn about new products and services.

Marketing helps consumers learn about new products and services.

Which of the following is true of the "Milk Life" marketing campaign? Multiple choice question. They aim to target only at a very specific segment of the market, the children. They seek to improve the lives of women throughout the world. Milk producers have created high levels of awareness about the benefits of drinking milk through this campaign. Milk producers seem to have incurred more costs than benefits because of this campaign.

Milk producers have created high levels of awareness about the benefits of drinking milk through this campaign.

Which of the following are examples of value cocreation? Buying ready-to-wear apparel from a department store Ordering a jacket with personalized embroidery Buying a custom cake from the bakery Getting a tattoo of a family member's name

Ordering a jacket with personalized embroidery Buying a custom cake from the bakery Getting a tattoo of a family member's name

What were the primary characteristics of the market-oriented era that followed World War II? (Choose every correct answer.) Products were designed to focus on consumers' needs. It was a buyer's market. Consumers had to purchase products of inferior quality. It was a seller's market.

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

_____ 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

______ is the part of the marketing mix that communicates the value of the product to the consumer. Multiple choice question. Price Product Place Promotion

Promotion

Ideally, successful American firms believe that marketers should focus on which of the following beyond financial profitability? (Choose every correct answer.) Lobbying for corporate tax breaks Outsourcing as much labor as possible Social responsibility Environmentally friendly options

Social responsibility Environmentally friendly options

True or False: Goods and services may be offered together. True false question. True False

True

In which era of marketing evolution are we functioning today? Marketing Production Value-based Sales

Value-based

What are purposes of the Milk Life marketing campaign? (Choose every correct answer.) a) To encourage people to add milk to their diets to improve their health b) To sell more milk and dairy products c) To inspire people to get regularly tested for osteoporosis d) To encourage people to drink non-dairy milk instead (such as soy milk)

a) To encourage people to add milk to their diets to improve their health b) To sell more milk and dairy products

Which of the following best describes goods? Multiple choice question. a)Items you can touch b)Experiences that cannot be separated from the producer c)Intangible products d)Value for which the consumer pays money

a)Items you can touch

What are examples of C2C marketing? (Choose every correct answer.) Multiple select question. a)Selling your old laptop through eBay.com b)Buying an iron from a neighbor's yard sale c)Buying a lamp from Amazon's website d)Buying a Nook e-reader from Barnes & Noble

a,b

Which of the following are buying-related activities, in contrast to selling-related activities? (Choose every correct answer.) Multiple select question. a) Using a credit card at a grocery checkout counter b) Giving a barista cash for a cup of coffee c) Purchasing MP3s from an online retailer d) Receiving payment from a client for a haircut

a,b,c

Which of the following statements about the core aspects of marketing are true? (Choose every correct answer.) Multiple select question. a)Marketing impacts various stakeholders. b)Marketing requires product, price, place, and promotion decisions. c)Marketing must be performed by an organization. d)Marketing involves satisfying customer needs.

a,b,d

During the sales-oriented era between 1920 and 1950, firms found an answer to overproduction primarily through _____. Multiple choice question. aggressive selling and advertising price reductions and discounts wider distribution of the products product innovation and increased product variety

aggressive selling and advertising

What are the two key elements marketers consider when determining price? Multiple select question. a) Knowing how much money the buyer has b) Determining how much customers are willing to pay so that they are satisfied with the purchase c) Ensuring the seller achieves a reasonable profit d) Identifying the maximum price at which anyone will buy the product

b) Determining how much customers are willing to pay so that they are satisfied with the purchase c) Ensuring the seller achieves a reasonable profit

Firms marketing directly to each other are participating in business-to- ______ marketing.

business

which of the following is an example of both goods and services received in combination?

buying new tires put on your car

Which of the following are services airlines frequently offer to create value for customers? (Choose every correct answer.) Multiple select question. a) Employees membership in unions b) Locally targeted marketing campaigns c) Many flights to destinations consumers want d) In-flight WiFi shopping opportunities

c,d

Drag each product to the type of value conveyed by its marketing. Status - Rolex watch Performance - Nike shoes Convenience - Energy bars

correct

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as the marketing mix. customer relationship management. value cocreation. supply chain management. strategic management.

customer relationship management.

A strategy developed by companies that specifies marketing activities for a specific period of time is known as a Blank______. Multiple choice question. a)concept map b)sales plan c)product positioning map d)marketing plan

d)marketing plan

Products include goods and services, as well as ______, which are thoughts, opinions, and philosophies that can be marketed, just as goods and services can. (Remember to type only one word in the blank.)

ideas

The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers. competitive advantage marketing concept customer franchise marketing plan marketing exchange

marketing plan

Understanding consumers' ________ is fundamental to marketing success. family connections physical locations rituals and habits needs and wants educational attainment

needs and wants

According to your text, what can be said regarding the use of social media in advertising? Facebook is the social media site of choice for marketers because nearly 75 percent of the world's population has signed up for a Facebook account. Social networks such as Facebook are nowhere near saturation. Marketers are reluctant to use social media in advertising because technology is changing so rapidly. The use of social media, once the premier way to connect to consumers, is rapidly falling off in popularity due to privacy concerns among users. Only 20 percent of the world's population uses Facebook—which means 80 percent still has not signed up.

only 20% of the world's population uses facebook, so 80% have not signed up

Coinstar uses the ________ element of the marketing mix when it makes its coin kiosks available for customers when and where they need them. product place promotion premium price

place

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? Multiple choice question. Place Positioning marketing mix marketing

place

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

price

match the marketing mix component with its corresponding value function

product- creating value price- capturing value place- delivering value proposition promotion- communicating value

The dairy industry targets its "Milk Life" and "Body by Milk" campaigns to different market ________, including parents, their children, and athletes. geographics exchanges segments fragments modules

segments

When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire ________ for goods and services. hierarchy of purchasers relationship management system supply chain promotion channel productivity metrics

supply chain

Marketing channel management is also known as

supply chain management.

True or False: 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

In order to compete successfully, most firms today have to provide their customers with better _______ than their competitors.

value