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

________ marketing is the marketing of goods and services from one organization to another.

Which element of the marketing mix is most closely associated with a company's channel of distribution?

The ________ is a document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy.

The Ford Motor Company sponsored "The Great American Pony Drive II" in honor of devotees of its legendary Mustang. In this example, how is the Ford Motor Company considering the lifetime value of a customer of the Mustang?

Which of the following is LEAST likely to be of growing importance in marketing in the near future?

The consumer orientation maintains that marketers must satisfy customers' needs in ways that also benefit society.

The total quality management (TQM) philosophy involves all employees in ________.

The Four Ps are ________.

A ________ is a series of activities involved in designing, producing, marketing, delivering, and supporting any product.

________ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid's gown.

Which of the following is an example of a transaction that might occur in business-to-business marketing?

What are two competitive advantages a customer may benefit from when buying a bottle of soda from a local corner convenience store versus a chain supermarket?

Explain the concept of corporate citizenship and why it is important for companies today.

________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.

Select one real company located in your home state. Identify at least four different types of stakeholders in this company.

The promotion element of the marketing mix includes the design of the product.

Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes. This is an example of the ________ element of the marketing mix.

When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

A(n) ________ provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference.