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

Shane pulled her car into the gas station just as the fuel gauge dropped below empty.In this example, Shane benefited from the ________ offered by the gas station.

Give three examples of modern marketplaces.

A ________ is a group of people that have different needs, wants, or preferences from other groups of people and would seek a different value Proposition (solution).

Which of the following lists the three components of the triple bottom line orientation?

IBM manager Celia Moore coordinates IBM's long-standing "Reinventing Education" program that involves intensive research into how educational institutions can use the fruits of new technologies to transform what they do.In the process, the program is a

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

From a marketing perspective, when one student eats trail mix for lunch while another eats a cheeseburger and french fries, they are demonstrating differences in ________.

Differential benefits set products apart from competitors' products by providing something unique that customers want.

_________ is outsourcing tasks to an undefined, large group of people or community by posting an open call for assistance on the Internet.

It is most accurate to say that popular culture consists of the ________ that the mass market consumes.

A flour producer that identifies its mission as "the milling of finest flour" most likely has a ________ orientation.

Two teachers purchased art supplies for their classes.One paid $103.45 for eight large boxes of crayons.The other teacher purchased ten identical boxes for $105.55.The second teacher got more for her money because she took advantage of a quantity discount.This relates to__________ element of marketing mix.

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

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

The customer relationship management concept maintains that marketers must satisfy customers' needs in ways that also benefit society.

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

A firm has a distinctive competency when it is able to outperform the competition, providing customers with a desired benefit the competition does not.

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

According to the theory of the wisdom of crowds, companies that make some of their products available for free are actually able to generate more revenue than companies that charge for all of their products.

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 ________.