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

________ is the buying and selling of products over the Internet.

A ________ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters.These three groups are

What is the difference between consumer goods and consumer services? Give an example of each.

Identify the four Ps in the following description: Rosa Alvarez markets 23 different varieties of salsa in 8-ounce and 12-ounce bottles at supermarkets in the southwestern United States.The 8-ounce bottle sells for $5.95, and the larger size sells for $7.95.Periodically, she sets up a table in one of the marketplaces that carries her salsa brand and offers customers a sample.She recently received considerable publicity for being the "Hispanic Entrepreneur of the Year."

A customer value proposition includes the whole bundle of benefits the firm promises to deliver, not just the benefits of the product itself.

Ria, a college sophomore, writes a daily blog that typically has over 50,000 readers each week.This is an example of consumer generated content.

Explain the term 'selling orientation'.

The Four Ps are ________.

Why might a company try to determine the lifetime value of a customer? What must a company do to determine this information?

What is a target market?

To be part of the ________ for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product.

Which of the following is true of Web 2.0?

Buyers, sellers, investors, and community residents are all considered ________ in a company.

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

The main activities of value chain members include all of the following EXCEPT ________.

A social movement directed at protecting consumers from harmful business practices is called____________.

__________is a physiological or psychological dependency on goods or services.

The principles of marketing can apply to people, just as they apply to goods and services.