Exam 1: Welcome to the World of Marketing

Two teachers purchased art supplies for their classes.One paid $103.45 for eight large boxes of crayons.The other teacher purchased ten identical boxes for $105.55.The second teacher got more for her money because she took advantage of a quantity discount,a reduced price for buying ten or more boxes.Which element of the marketing mix most directly relates to these purchases?

What is the difference between consumer goods and consumer services? Give an example of each.

The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.

The term "marketing" is synonymous with the term "advertising."

Which of the following is an example of a not-for-profit organization that would use marketing principles?

Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.

Which of the following is the best example of a consumer good?

Briefly explain how the value chain is related to competitive advantage.

Ruth Terry is a realtor.In her ads,Terry offers the free use of a moving truck to every customer she helps either buy or sell a house.This free use of a moving truck is an example of a ________.

A catalog retailer has identified African-American professionals between the ages of thirty-five and forty-five as the group of customers within the larger market that is a potential market for its products.The retailer plans to direct its marketing efforts toward this group of consumers.The retailer has identified a ________.

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

Explain how addictive consumption is a dimension of the "dark side" of marketing.

Explain why it is often difficult to measure the value of marketing activities.

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

The consumer orientation maintains that marketers must satisfy customers' needs in ways that also benefit society.

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

A customer's desire for a product coupled with the buying power or resources to obtain that product is called a ________.

When a gap exists between a consumer's actual state and some ideal or desired state,the consumer has a ________.

Marketing communication is also referred to as ________.

Seth's mother didn't want to have a climbing wall as a permanent feature in her backyard,but it was certainly convenient to rent one from the company that catered Seth's 12th birthday party.The catering company created both ________ utility when it rented her the climbing wall.