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

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

Alcoholism and cigarette smoking are both examples of ________.

Which of the following is part of the product element of the marketing mix?

Which of the following is a true statement about the Four Ps of the marketing mix?

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

Marketing communication is also referred to as ________.

Jack provides heating and air conditioning equipment for office buildings. He sells ________.

Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of ________.

Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.

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

The terms market segment and target market represent the same concept.

Very little of the online action in e-commerce is in business-to-business marketing.

Can a consumer of a product be a stakeholder in the company that markets the product? Briefly explain your answer.

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.

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

How would an ice cream vendor create the four types of utility?

________ 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.

There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

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