Exam 1: The Marketing Management Process

_____ is the process of analyzing,planning,implementing,coordinating,and controlling programs involving the conception,pricing,promotion,and distribution of products,services,and ideas designed to create and maintain beneficial exchanges with target markets for the purpose of achieving organizational objectives.

Marketing management involves controlling programs related to the conception,pricing,promotion,and distribution of products.

Customers want to purchase products with minimum of risk and shopping time.This is referred to as _____ utility.

Which of the following components of the marketing mix concerns distribution of products?

_____ are essentially tangible physical objects that provide a benefit.

A society cannot reap the full benefits of specialization until it develops the means to facilitate:

People who buy goods for others in their immediate household are organizational buyers.

Value is a function of extrinsic features related to the environment.

Mars,a company that markets home appliances,realizes that their clients in China would prefer it if their range of juicers were to have extra strong blades so that it cuts through all kinds of fruits.In order to fulfill this demand,the company modifies its product designs and marketing programs to cater to the needs of the Chinese customers.Mars is trying to:

A product has greater place utility for a potential customer when it can be purchased with minimum risk and shopping time.

Dell allows individuals buy personal computers by placing online orders in the website.Dell's website is an example of a business-to-business e-commerce site.

Gobex International is a reputed marketing research firm.This firm is an example of a(n)_____.

Each market segment seeks a different set of benefits from the same product category.

The most important characteristic of marketing as a business function in order to sustain a healthy top line is its focus on:

Specialization of labor and economies of scale involved in an extensive marketing system reduces its functional efficiency.

The boundaries between functional areas have started to blur and marketing programs are increasingly becoming a group activity in current business environment.

The relative strengths and weaknesses of competitors and trends in the competitive environment is one of the 4Cs necessary to provide the foundation for a good strategic marketing plan.

Distinct subsets of consumers with similar needs,circumstances,and characteristics that lead them to respond in a similar way to a particular product or service are known as market _____.

A business-level strategy addresses:

Need for food and water are examples of _____ needs.