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Exam 1: Welcome to the World of Marketing: Create and Deliver Value

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Question 71

Multiple Choice

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

A) sustainability
B) the production orientation
C) the selling orientation
D) manufacturing on demand
E) instapreneurship

F) B) and C)
G) C) and D)

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Question 72

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The marketing mix is the marketer's strategic toolbox.

A) True
B) False

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Question 73

Multiple Choice

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A(n) ________ is the ultimate user of a good or service.

Providing service to the customer after a purchase is not an activity associated with the value chain.

The ________ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

________ is about delivering value to everyone who is affected by a transaction.

Differential benefits set products apart from competitors' products by providing something unique that customers want.

A ________ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business.

What is the difference between a mass market and a market segment?

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?

The Internet has created a paradigm shift for businesses,moving us toward an attention economy in which a company's success will be measured by its ________.

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

Buyers,sellers,investors,and community residents are all considered ________ in a company.

According to the theory of the wisdom of crowds,under the right circumstances ________.

What is a market segment? Explain how an automaker might appeal to different market segments.

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

________ 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.

A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

________ are the tangible products that individuals purchase for personal or family use.