Exam 1: Creating Customer Relationships and Value Through Marketing

The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

From its inception, where did Hamdi Ulukaya, the creator of Chobani, Inc., want to place Chobani yogurt?

For marketing to occur, there must be two or more parties with unsatisfied needs. Dr. Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks. The most likely "second" party needed for marketing to occur would be

The people who use the products and services purchased for a household are called

Effective marketing benefits society because it

The first objective in marketing is to discover consumers' __________.

Which of the following is the best example of an organizational buyer?

All markets ultimately are composed of __________.

The value to consumers that comes from having the offering available where consumers need it constitutes __________ utility.

The United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold mine of donor data. Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities. Which of the following tools would be most useful for the nonprofit organization to use?

The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota ethanol producer, can create __________ utility.

The founder of Chobani Greek Yogurt, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is

To serve both buyers and sellers, marketing seeks to discover and __________ the needs and wants of prospective customers.

In our free-enterprise society, which three specific groups benefit from effective marketing?

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. The most likely prospective customers for this flying car would include

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school. He knows that any money he spends on a tutor will be well worth it if he can improve his scores. He's heard that there is a great tutor in his local community but has no idea who she is. To ensure that marketing occurs with her, he should

A college student is taking a full course load, working 20 hours per week, and still has to take out a student loan to cover tuition. One day, he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000) and feels he just has to have one for himself. What factor is most likely to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

Utility refers to