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Marketing Ch. 1
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The marketing manager must answer _____ important questions
2
A __________ is the set of actual and potential buyers of a product.
market
Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences. True or False
True
You _______ food but _______ a Big Mac.
need, want
The five core customer and marketplace concepts are NOT critical. True or False
False
How many considerations are used in the societal marketing concept?
3
What are the 5 marketing concepts?
production, product, selling, marketing, and societal marketing
The first step when creating a customer value driven marketing strategy is?
Decide whom you will serve.
Each party involved in the modern marketing system adds value. True or False
True
What are the 4 P's of the marketing mix?
product, price, place, and promotion
How many marketing concepts are there?
5
The art and science of choosing target markets and building profitable relationships with them is called ________. A) marketing management B) positioning C) marketing mix D) market offering E) differentiation
A
An experience such as a vacation can be defined as a market offering. True or False
True
Market offerings are limited to physical products. True or False
False
When backed by buying power, needs become wants. True or. False
False
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities. A) positioning B) marketing C) outsourcing D) production E) logistics
B
A(n) ________ is the set of actual and potential buyers of a product or service. A) market B) control group C) subsidiary D) focus group E) audience
A
Marketing is managing profitable customer relationships. True or False
True
_________ is the act of obtaining a desired object from someone by offering something in return
exchange
paying more attention to the specific products than to the benefits and experiences produced
Marketing myopia
some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Market offerings
Shaped by one's society and culture. You do not need these items for survival.
Wants
Food, clothing, warmth, and safety are forms of?
Needs
Marketing is all around you. True or false
True
process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Marketing
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