Exam 1: Welcome to the World of Marketing: Create and Deliver Value

Jolene's firm markets preplanning services for a mortician.She finds that most of her target market wants to avoid discussing future funeral needs,so she must somehow first get their attention.Jolene's firm most likely uses the ________.

When comparing itself to its competitors,Hidden Valley describes its Ranch dressing as the original.This is the ________ the manufacturer has selected for the product.

Which of the following is an example of a transaction that might occur in business-to-business marketing?

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians,people who are concerned about chemicals in their foods,and people who consider themselves innovators and trendsetters.These three groups are examples of ________.

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

Which element of the marketing mix is most closely associated with a company's supply chain?

A market position refers to ________.

Write two questions that a firm would be likely to consider during the marketing planning stage.

The elements of the marketing mix are the four Ps.

Apple relied on its inventive product designers to create a ________,a futuristic looking computer in a multitude of colors.

Ruth Terry is a realtor.In her ads,Terry offers the free use of a moving truck to every customer she helps either buy or sell a house.This free use of a moving truck is an example of a(n)________.

The marketing acronym ROI stands for rely on instinct.

A sign manufacturer who uses plastic,metal,and neon tubing to create a motel sign has performed the marketing benefit of creating ________ utility.

The Total Quality Management (TQM)philosophy involves all employees in ________.

To calculate lifetime value,a company would estimate the amount of money a person would spend with the company over a lifetime and then subtract what it will cost the company to maintain this relationship.

A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.

Which of the following is a true statement about the Four Ps of the marketing mix?

Why should a firm be aware of its competitors' distinctive competencies?

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position.In this situation,Chris has a(n)________.