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Marketing: Real People, Real Choices, 4e Chapter 1 A management philosophy that focuses on ways to satisfy a customer’s needs and wants is a _____________ philosophy. 1. selling-oriented 2. product-oriented 3. consumer-oriented 4. market-oriented A management philosophy that focuses on ways to satisfy a customer’s needs and wants is a _____________ philosophy. 1. selling-oriented 2. product-oriented 3. consumer-oriented 4. market-oriented Donna Ricco combines cotton material, thread, ornamentation, and zippers to produce an evening gown. When Donna Ricco markets this value, the designer is providing ______ to the customer. 1. place utility 2. form utility 3. time 4. possession Donna Ricco combines cotton material, thread, ornamentation, and zippers to produce an evening gown. When Donna Ricco markets this value, the designer is providing ______ to the customer. 1. place utility 2. form utility 3. time 4. possession Marketers provide consumer value when they offer their customers the highest quality product/service at the lowest price. 1. True 2. False Marketers provide consumer value when they offer their customers the highest quality product/service at the lowest price. 1. True 2. False Services have tangible attributes that are exchanged between producer and consumer. 1. True 2. False Services have tangible attributes that are exchanged between producer and consumer. 1. True 2. False A marketer of fishing equipment might advertise to his/her target market in Rod and Reel magazine. 1. True 2. False A marketer of fishing equipment might advertise to his/her target market in Rod and Reel magazine. 1. True 2. False A group of consumers with similar sets of needs that a company can group together for marketing purposes is known as a 1. target market. 2. reference group. 3. consumer mix. 4. marketing mix. A group of consumers with similar sets of needs that a company can group together for marketing purposes is known as a 1. target market. 2. reference group. 3. consumer mix. 4. marketing mix. If I buy a lawnmower to mow my lawn, I am considered a final consumer only if I am satisfied with my purchase. 1. True 2. False If I buy a lawnmower to mow my lawn, I am considered a final consumer only if I am satisfied with my purchase. 1. True 2. False If my company purchases a roll of stamps for the purpose of mailing letters to customers, the stamps would most likely be considered an industrial good. 1. True 2. False If my company purchases a roll of stamps for the purpose of mailing letters to customers, the stamps would most likely be considered an industrial good. 1. True 2. False Value is determined by the price of a product or service. 1. True 2. False Value is determined by the price of a product or service. 1. True 2. False A marketing manager for the XYZ Oral Hygiene Products company has a philosophy that “once the sale is made, we should forget about the customer.” This philosophy enhances the exchange process for the company’s products. 1. True 2. False A marketing manager for the XYZ Oral Hygiene Products company has a philosophy that “once the sale is made, we should forget about the customer.” This philosophy enhances the exchange process for the company’s products. 1. True 2. False If a company’s core business is designer jeans, it could probably market to a segment of customers who drive BMW automobiles. 1. True 2. False If a company’s core business is designer jeans, it could probably market to a segment of customers who drive BMW automobiles. 1. True 2. False The product’s positioning defines what main benefits are to be communicated to the customer. 1. True 2. False The product’s positioning defines what main benefits are to be communicated to the customer. 1. True 2. False The marketing mix consists of decisions concerning product, promotion, place, and prestige. 1. True 2. False The marketing mix consists of decisions concerning product, promotion, place, and prestige. 1. True 2. False The basis of modern marketing lies in the application of the marketing concept. 1. True 2. False The basis of modern marketing lies in the application of the marketing concept. 1. True 2. False The development of the marketing concept changed the nature of marketing by placing the main emphasis on sales. 1. True 2. False The development of the marketing concept changed the nature of marketing by placing the main emphasis on sales. 1. True 2. False Services, unlike products, are intangible and more difficult to position. 1. True 2. False Services, unlike products, are intangible and more difficult to position. 1. True 2. False All companies, regardless of whether they are profit or not-for-profit, need capital to implement the marketing concept. 1. True 2. False All companies, regardless of whether they are profit or not-for-profit, need capital to implement the marketing concept. 1. True 2. False When a soft-drink company creates and markets products to appeal to identified consumers’ tastes, like their interest in dieting and decaffeinated products, it is using what type of process? 1. market segmentation 2. sales orientation 3. production orientation 4. distribution orientation When a soft-drink company creates and markets products to appeal to identified consumers’ tastes, like their interest in dieting and decaffeinated products, it is using what type of process? 1. market segmentation 2. sales orientation 3. production orientation 4. distribution orientation When goods are transferred from suppliers to customers and then customers transfer funds to suppliers, what type of process is involved? 1. business-to-business marketing 2. a marketing information system 3. industrial marketing 4. marketing intelligence 5. the exchange process When goods are transferred from suppliers to customers and then customers transfer funds to suppliers, what type of process is involved? 1. business-to-business marketing 2. a marketing information system 3. industrial marketing 4. marketing intelligence 5. the exchange process Marketing can be defined in a variety of different ways. Most agree that it is all activities directed toward identifying and satisfying customer needs and wants through a process of exchange. A more simple definition might be 1. selling at a profit. 2. satisfying customers. 3. bartering with customers. 4. managing customer satisfaction. Marketing can be defined in a variety of different ways. Most agree that it is all activities directed toward identifying and satisfying customer needs and wants through a process of exchange. A more simple definition might be 1. selling at a profit. 2. satisfying customers. 3. bartering with customers. 4. managing customer satisfaction. Communicating the main product benefits to the consumers is known as 1. product positioning. 2. product distribution. 3. product pricing. 4. the marketing mix. Communicating the main product benefits to the consumers is known as 1. product positioning. 2. product distribution. 3. product pricing. 4. the marketing mix. The component of the marketing mix that ensures that product characteristics provide benefits to the consumer is known as 1. product. 2. profit. 3. place. 4. price. The component of the marketing mix that ensures that product characteristics provide benefits to the consumer is known as 1. product. 2. profit. 3. place. 4. price. The basic premise that all marketing strategies must be based on known customer needs is called the 1. production-orientation concept. 2. business-to-business concept. 3. marketing concept. 4. industrial-marketing concept. 5. pricing concept. The basic premise that all marketing strategies must be based on known customer needs is called the 1. production-orientation concept. 2. business-to-business concept. 3. marketing concept. 4. industrial-marketing concept. 5. pricing concept. Robert earned money last summer by washing windows. One of the non-marketing activities involved in his project was: 1. putting handbills in mailboxes to announce his service and prices 2. managing his accounting in his home office 3. deciding how to charge for his work 4. choosing an area of the city in which to offer his services Robert earned money last summer by washing windows. One of the non-marketing activities involved in his project was: 1. putting handbills in mailboxes to announce his service and prices 2. managing his accounting in his home office 3. deciding how to charge for his work 4. choosing an area of the city in which to offer his services An example of service marketing is 1. when a restaurant emphasizes its “10-Minute or It’s Free” lunch specials. 2. when a car company emphasizes its product’s durability. 3. when a computer company advertises its products benefits. 4. when a firm bases its advertising campaign on low price. An example of service marketing is 1. when a restaurant emphasizes its “10-Minute or It’s Free” lunch specials. 2. when a car company emphasizes its product’s durability. 3. when a computer company advertises its products benefits. 4. when a firm bases its advertising campaign on low price. Marketers usually spend a great deal of time ensuring that products are safe. This is a good marketing practice because not only does it ensure a quality product is sold but 1. it is the social responsibility of the firm to provide safe products to the public. 2. the company might be liable for faulty products that harm the public. 3. quality control managers are highly paid and must earn their salaries. 4. it is part of the marketing mix. Marketers usually spend a great deal of time ensuring that products are safe. This is a good marketing practice because not only does it ensure a quality product is sold but 1. it is the social responsibility of the firm to provide safe products to the public. 2. the company might be liable for faulty products that harm the public. 3. quality control managers are highly paid and must earn their salaries. 4. it is part of the marketing mix. Frito-Lay is able to maintain a very large competitive advantage in the potato chip/snack markets because of it distribution strength. This strength would be called a ___________. 1. social responsibility 2. unique and differentiated product 3. marketing mix variable 4. distinctive competency Frito-Lay is able to maintain a very large competitive advantage in the potato chip/snack markets because of it distribution strength. This strength would be called a ___________. 1. social responsibility 2. unique and differentiated product 3. marketing mix variable 4. distinctive competency