Exam 1: Marketing Fundamentals

The sales orientation stage focused on satisfying the needs of consumers while trying to achieve organizational goals.

In the 1960s, organizations focused on the idea that an organization should strive to satisfy the needs of consumers while trying to achieve organizational goals.This is true of the _____ orientation stage.

Real-time marketing is easily planned out over extended time periods with little management.

What is a target market? Give an example.

A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts.

Sound and Cinema is a 10-year-old company that turns an ordinary basement into a home theatre.It advertises in publications that are mailed to homeowners in subdivisions in which the least expensive home costs $475,000.These homeowners are the _____ market for Sound and Cinema.

Seven Eleven Shopping Mart has launched an offer to attract more customers.It will be giving discounted movieonline.com coupons to all customers who make purchases of $75 and above at any Seven Eleven store.The offer is valid on three special days.Seven Eleven is also hosting a "Have Fun Fair" at all stores, which includes children's scavenger hunts, a jumping castle, bingo, and educational demonstrations.Seven Eleven will be presenting the winners with free shopping coupons worth $100 at its stores.Which of the following strategies of marketing has Seven Eleven Shopping Mart adopted when giving out discounted movieonline.com coupons to its customers?

What is marketing?

The marketing process is a continuous one that requires marketers to pay attention to detail and apply strategic, analytical, and creative-thinking skills.

Partnership marketing is an approach where marketers create opportunities for consumers to interact directly with a brand.

Event marketing is an example of _____.

What does the marketing orientation stage focus on?

Customer relationship management is rooted in the knowledge that it is less expensive to service and maintain current customers than to obtain new ones.

Strategic alliance involves long-term arrangements between companies with similar values and objectives that extend beyond short-term promotional offers into long-term business agreements.

In the 1930s, it was thought that production creates its own demand, and American companies began to produce more goods than their regular buyers could consume.At the same time, competition became more significant, and the problems of reaching the market became more complex.These changes led to the _____ stage.

Experiential marketing is an approach where marketers:

When Absolut vodka launched the CUT brand, no traditional media was used during the launch.Instead, the company used nightclub venues and created a spot for people to try the product for free.This is an example of _____.

The societal marketing concept:

Often, students believe marketing revolves around slick commercials and fancy promotions.But the ultimate objective is to _______ for a company.

Which element of the marketing mix is demonstrated when a company manufactures a low-calorie chocolate chip cookie?