Exam 1: Overview of Marketing

Which marketing activity is most directly served by the promotion element of the marketing mix?

In marketing, an exchange is when the buyer and the seller trade things of value to benefit the other.

A relational orientation is based on the philosophy that buyers and sellers develop

After World War II, consumers were able to make purchase decisions based more on their wants and desires than necessity. As a result, more companies discovered the benefits of

The marketing plan is broken down into various components-how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.

The basic difference between a good and a service is that a good

Max bought a suit at Jerome's Fine Clothing for Men. Jerome's Fine Clothing for Men bought the suit from a distributor, which bought it from a designer. The designer bought the materials to make the suit from a factory in China, and the suits were made at that same factory. The employees in the factory bought their suits directly from the factory and sold them to their friends. Explain which of these transactions were B2B, B2C, and\or C2C.

It is Mallory's job to make sure the company's products are shipped to the distribution center from the production center to fulfill customer orders. Which element of the marketing mix does her job focus on?

Carter sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Carter operates as if he were in the ________ era.

Which of these consumers is involved in an exchange for a service?

Marketers must determine the price of a product carefully based on the potential buyer's beliefs about

Suppose your college roommate sees you reading your marketing textbook and says, "Marketing is just advertising and selling." How do you respond?

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

During the past couple of decades, marketers have begun to develop a relational orientation as they have realized that they need to think about their customers in terms of relationships rather than transactions. How does Apple encourage its customers to maintain a long-term relationship with the company?

Morgan always stops at Starbucks for her morning coffee. There is a Starbucks Drive-Thru on her way to work and there is also a small kiosk in the lobby of her office building. Starbucks is using the place element of the marketing mix to influence its customers.

The scout troops at Rivers Elementary enjoy a program each year that promotes safe choices when viewing information online. This program is marketing

Supply chain management represents the promotion aspect of the marketing mix.

Bella, the outside sales rep for a major building supply company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Bella will help her company become more value driven if she

From a customer's perspective, value reflects

Value-oriented marketers constantly measure