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

Marketing activities play a major role in the creation of ________,which means that a product provides benefits when it is used.

A company tells their staff that the only thing that matters is sales.Salespeople are paid commissions,travel extensively,and are encouraged to use hard sell techniques.Discuss the orientation the company is following and why such an orientation may not be successful in the long term.

Marketing is the activity,set of ________ and processes for creating,________,delivering and exchanging offerings that have ________ for customers,clients,partners and society at large.

Explain how marketing creates utility and the different types of utility created.Illustrate using the example of an ice cream vendor at Bondi Beach.

Today,companies place a greater emphasis on ________,measuring how much value is created by marketing activities.

Discuss the marketing mix as it applies to your local McDonald's or Pizza Hut.

To calculate lifetime value,a company would estimate the amount the person would spend and then subtract what it will cost them to maintain this relationship.

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

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

Marketers must work with ________ departments to determine if products are profitable,set marketing budgets and determine price.

How does a website such as www.seek.com.au create both place and time utility?

Although a want may be something to eat or drink,the desire for a specific brand name is referred to as a need.

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

A/n ________ consists of all the consumers who share a common need that can be satisfied by a specific good or service and who have the resources,willingness,and authority to make the exchange.

Which of the following statements about marketing's role in the company is not true?

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.

Which of the following is an example of a need?

A fancy shopping centre,a mail-order catalogue,a television shopping network,an eBay auction,or an e-commerce website could all be examples of a ________.

A bakery buys sugar,flour and yeast to make bread,and a retailer buys racks and a cash register.

The Macadamia Nut Marketing Board promotes the fact that their nuts are a good addition to a low-carbohydrate diet.How are they making use of popular culture trends?