Exam 1: Creating Customer Relationships and Value Through Marketing

Utility refers to

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes ________ utility.

The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and before- and after-sale service at a specific price is called

All of the following are environmental forces that affect an organization except which?

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

Customer value refers to

A skydiving experience cannot be touched like a physical object, but is still considered a product. To a marketer, this is an example of

Which of the following statements about 3M's marketing program for Post-it® Flag Highlighters and Post-it® Flag Pens is most accurate?

Some people may assume that for a marketer, the only thing of value for which he or she would "exchange" would be monetary (check, credit/debit, currency, and/or coin transactions). But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Which of the following is an example of an ultimate consumer?

The ________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each per month?

An organization with a market orientation

The value to consumers that comes from the production or alteration of a product or service constitutes ________ utility.

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

BioFuel Energy, a Minnesota ethanol producer, turns corn into ethanol, creating ________ utility.

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Define the marketing concept.

When a company uses advertising on Instagram, this tactic is part of the ________ element of the marketing mix.

What kinds of organizations should engage in marketing?