Exam 1: Welcome to the World of Marketing: Creating and Delivering Value

A production orientation works best in a buyer's market when supply exceeds demand.

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

Which of the following is an example of a want?

For an exchange to occur,________.

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

A ________ consists of all possible customers in a market,regardless of the differences in their specific needs and wants.

A television advertisement for a particular brand of laundry detergent lists all the benefits consumers will enjoy if they use that particular brand instead of other brands of laundry detergent.

The promotion element of the marketing mix includes product design,labels and advertising.

Barbara bases her shopping on the theory that shampoo is shampoo,bread is bread,etc.and brand name and product claims make no difference to her.How would a marketer explain Barbara's behaviour,what changes would they want her to make,and how might this be achieved?

________ provide reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference.

Can stakeholders be consumers and can consumers be stakeholders?

The second step in developing a competitive advantage is to turn a distinctive competency into a ________,one that is ________ to customers.

An article about the Morning Dove Spa in a local newspaper talks about how relaxed and without stress you feel after being at the spa and that relaxation is important for busy professionals.

The ________ element of the marketing mix refers to the availability of the product to the consumer at the desired time and location.

Servicing the product or customer is not an activity associated with the value chain.

The ________ maintains that marketers must satisfy customers' needs in ways that benefit society and are profitable for the company.

How has the internet facilitated the implementation of customer relationship management programs (CRM)?

________ is the buying and selling of products such as books,CDs and clothing on the internet.

A firm provides customers with a differential benefit when it offers products that are essentially the same as its competitors'.

Which of the following is the best example of a service?