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

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

When Tony rented a loft apartment where he would live for the summer, he acted as a ________.

The first phase of market planning is to ________.

Business-to-business marketing represents greater total sales than business-to-consumer marketing.

Explain why branding is increasingly becoming a two-way communication between the brand and consumers.

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

________ is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal.

In general, competitive advantage comes from which of the following?

Explain how addictive consumption is a dimension of the "dark side" of marketing.

In addition to marketing activities, the ________ includes business functions such as human resource management and technology development.

________ is the assignment of a product's value, or the amount the consumer must exchange to receive the offering.

Briefly explain how the value chain is related to competitive advantage.

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

Many not-for-profit organizations use marketing principles.

A(n) ________ provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference.

Ria, a college sophomore, has a YouTube channel and posts short videos that typically have over 50,000 viewers each week. Ria could be described as a microcelebrity.

Service provided to the customer after a purchase is not an activity associated with the value chain.

Marketing communication is also referred to as ________.

A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.

Green marketing and sustainability are interchangeable terms describing the same concept.