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

Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.

In general,companies that focus on a triple bottom line are most likely to place a priority on which of the following?

Differential benefits set products apart from competitors' products by providing something unique that customers want.

________ are the tangible products that individuals purchase for personal or family use.

The marketing mix is the marketer's strategic toolbox.

Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business.

The Internet has created a paradigm shift for businesses,moving us toward an attention economy in which a company's success will be measured by its ________.

The ________ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

What is the difference between a mass market and a market segment?

A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

What is a market segment? Explain how an automaker might appeal to different market segments.

Buyers,sellers,investors,and community residents are all considered ________ in a company.

A ________ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

Two teachers purchased art supplies for their classes.One paid $103.45 for eight large boxes of crayons.The other teacher purchased ten identical boxes for $105.55.The second teacher got more for her money because she took advantage of a quantity discount,a reduced price for buying ten or more boxes.Which element of the marketing mix most directly relates to these purchases?

According to the theory of the wisdom of crowds,under the right circumstances ________.

________ is about delivering value to everyone who is affected by a transaction.

The second step in developing a competitive advantage is to turn a distinctive competency into a ________ that is important to customers.

Providing service to the customer after a purchase is not an activity associated with the value chain.

________ is the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large.

A(n)________ is the ultimate user of a good or service.