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

Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months.Greg's want now has become a(n) ________.

Write two questions that a firm would be likely to consider during the marketing decision making process.

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.

A sign manufacturer who uses plastic, metal, and neon tubing to create a motel sign has provided___________ of choice that people look forutility.

______________looks at how much profit they expect to make from a particular customer, including each and every purchase he or she will make from them now and in the future.

In which kind of market would a product orientation be most successful?

More goods and services are sold in the ________ market than in the ________ market.

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position.In this situation, Chris has a(n) ________.

When companies calculate the lifetime value of a customer they look at ________.

A firm that focuses on a ________ orientation is likely to learn an important lesson the hard way - consumers do not buy products,they buy benefits.

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

Automobiles, haircuts, tutoring, and lighting fixtures are all examples of consumer goods.

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

________ are the tangible products that individuals purchase for personal or family use.

Why should a firm be aware of its competitors' distinctive competencies?

In addition to marketing activities, the ________ includes business functions such as human resource management and technology development.

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

________ refers to the benefits a customer receives from purchasing a good or service.

A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.

What is a market segment? Explain how an automaker might appeal to different market segments.