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Chapter 1 - Marketing - Study Guide! Flashcards | StudBud
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Chapter 1 - Marketing - Study Guide!
Chapter 1 - Marketing - Study Guide!
16 terms
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Flashcards
16 cards
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Questions
16
Answers
1
The marketing concept is important to build customer relationships?
False
True
2
Following ethical marketing is bad for business?
False
True
3
1. At its essence, marketing is _______.
pricing products appropriately
understanding customers in order to drive business
selecting the least expensive distribution channels
understanding customers in order to drive business
4
One of the primary avenues of advertising is digital/online. Which one is NOT an internet advertising option?
A. Search engine marketing
A. Social media ads
A. Email marketing
Trade show marketing
5
Gatorade, an industry-leading sports drink, built market dominance by integrating ? throughout the product’s life cycle.
the marketing mix
sales
Digital Strategies
advertising
6
Lower prices during the holiday season to entice shoppers to buy up inventory. What other P should likely be adjusted?
Promotion
Product
Position
Place
7
Ethical marketing requires marketers to consider how the introduction of new products benefit society but also promotes
Transparency with competitors
fairness, honesty, and sense of responsibility
attempting to adhere to norms, standard, rules & regulations
automated communications with customers
8
1. Which one of the following concepts began the notion of relationship marketing?
Product Concept
Production Concept
societal concept
Marketing Concept
9
What are the tools marketers rely upon as they develop strategies to add value to the company’s business.
Fairness & Honesty
Marketing Mix, Product, Price, Place, Promotion and Marketing Ethics
CRM
Transparency with consumers
10
The marketing exchange process has 4 requirements to become sucessful?
False
True
11
1. Another, which refers to a company’s assets, is a model that helps define the elements of marketing strategy
the 3m framework
Maslow's hierarchy of needs
the 5m framework
the marketing mix
12
Businesses that follow ethical marketing are successful?
True
False
13
Production, Place, Price, Promotion are the 4 P's?
True
False
14
The 4 Ps—make up the marketing mix? What are the four P's?
product, price, place, and promotion
product, people, physical, promotion
price, people, promotion, place
people, product, price, place
15
The four requirements of exchange process are: Payment, Seller, Buyer, Product/service?
False
True
16
Which of the following is an external interested party?
Board of Directors
Shareholders
Competitors
Employees