Exam 1: Scope and Concepts of Marketing

All of the actual and potential consumers of a company's product make up a(n) ____________________.

The tendency of marketing efforts to focus on products, production, or sales and ignore specific consumer needs or important markets is called

The marketing concept consists of all of the following components except

The process of developing and nurturing relationships with all the parties participating in a marketing transaction is called _________________________.

The process of developing and nurturing relationships with the parties participating in the transactions involving a company's products is called

Satisfaction is

Marketing has evolved over time and, as a result, a firm can take three different approaches to marketing: product approach, selling approach, and marketing approach.

____________________ are intangible activities or benefits that a consumer or business acquires, but do not result in ownership, such as an airplane trip.

If expectations of a good or service are greater than performance, consumers are likely to be

The marketing concept entails a company-wide consumer focus across all functional areas.

If expectations of a product are greater than performance, consumers are likely to be dissatisfied with the good or service, and are likely to engage in negative word-of-mouth communications about the good or service and firm switching behavior.

_____ are shaped by an individual's culture.

Match the following as a good, service, idea, or experience: -A golf museum

During the production era, between 1870 and 1930, what was the primary focus of marketing?

Customer relationship management does all of the following except

According to Peter Drucker, marketing is "the most effective engine of economic development, particularly in its ability to develop demand for goods and services."

For optimal performance in the marketplace, firms must adopt a marketing strategy using the 4 P's to address consumer needs. This requires that a company does all of the following except

When a Burger King offers $1.00 off coupons for their Whopper sandwich in an insert in the Sunday newspaper, Burger King is using the

Identify the different marketing philosophies and explain each in view of the historical development of marketing.

____________________ are wants backed by the ability to buy the good or service.