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

________ 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.

What is the difference between consumer goods and consumer services? Give an example of each.

Kao Corp., which makes Ban deodorant, invited teenage girls to create an ad that would encourage other girls to buy the product. This program is an example of ________.

A ________ delivered by a product is the outcome that motivates a customer's buying behavior.

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

What is a marketing scorecard and what is its purpose?

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

A ________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

After saving a portion of several paychecks, Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want has become a(n) ________.

Nongovernmental organizations are also known as ________.

Explain why it is often difficult to measure the value of marketing activities.