Exam 1: Welcome to the World of Marketing

Identify the four Ps in the following description: Rosa Alvarez markets 23 different varieties of salsa in 8-ounce and 12-ounce bottles at supermarkets in the southwestern United States.The 8-ounce bottle sells for $5.95,and the larger size sells for $7.95.Periodically,she sets up a table in one of the marketplaces that carries her salsa brand and offers customers a sample.She recently received considerable publicity for being the "Hispanic Entrepreneur of the Year."

The principles of marketing can apply to people,just as they apply to goods and services.

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

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

Many not-for-profit organizations use marketing principles.

A sign manufacturer who uses plastic,metal,and neon tubing to create a motel sign has performed the marketing benefit of creating ________ utility.

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

Explain how marketers are held accountable for the results of their work,including a discussion of scorecards and ROI.

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

Which of the following is true of Web 2.0?

Provide a brief explanation of what marketing is.

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 ________.

In general,companies that focus on a triple bottom line are most likely to place a priority on which of the following?

A marketer who wants to achieve a competitive advantage over her rivals cannot use the marketing mix to achieve this goal.

An entertainer such as Garth Brooks,a television show,and a magazine subscription are all examples of products.

A ________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.

A glitzy shopping mall,a mail-order catalog,a television shopping network,and an e-commerce website are all examples of ________.

A ________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

A flour producer that identifies its mission as "the milling of fine flour in the most efficient manner possible" most likely has a ________ orientation.

Write two questions that a firm would be likely to consider during the market planning stage.