Exam 1: What Is Marketing

Good marketing focuses primarily on making a profit for the corporation.

Which marketing career involves meeting with customers,determining value,proposing offerings,and making sure that the customer is satisfied?

Organizations and functions that mine,make,assemble,or deliver materials and products from manufacturer to consumer are referred to as _____.

A corporate strategy is developed once a company has decided what business it is in and has created a mission statement.

One of the components of marketing involves the process of collaborating with suppliers and customers to create offerings that have value.

The entire bundle of tangible goods,intangible services,and the price is the company's _____.

_____ is a primary component of supply chain management.

According to the American Marketing Association,marketing consists of five components.

_____ refers to a belief that the way to compete is a function of product innovation and reducing production costs,as good products appropriately priced sell themselves.

What are some methods marketers can use to communicate value to customers?

Which element of the marketing mix would involve delivering offering to a retail store where they may be purchased?

Marketing has changed from a static set of four Ps to a set of processes that engage marketing professionals as well as many others in the organization.

The value of an offering is determined by the company marketing it.

Name three examples of positions available to someone interested in a career in marketing.

Martin has incorporated several features customers have suggested into a new model of his company's vacuum cleaners.Martin is involved in which of the following areas of the marketing profession?

According to the personal value equation,value is equal to _____ minus the sum of price and hassle.

Ethics require companies to actively seek to improve the lot of others.

A service-dominant logic means engaging in practices that do not diminish the earth's resources.

According to the concept of the four Ps,_____ refers to the process of getting the product to a point at which the customer can purchase it.

A mission statement that reflects a production orientation is based on the premise that success is due to great products and that simply creating supply will lead to demand.