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MK1551 Marketing concepts Flashcards | StudBud
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MK1551 Marketing concepts
MK1551 Marketing concepts
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Flashcards
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Questions
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Answers
1
The ‘place’ element of the marketing mix refers to...
logistics
the position of a brand in a customer’s mind
marketing distribution
positioning
2
‘Branding’ falls under which element of the marketing mix?
place
product
price
promotion
3
The marketing concept is seen as underpinned by three pillars. Which?
profit orientation, integrated effort, goal achievement
customer orientation, integrated effort, goal achievement
customer orientation, profit maximisation, goal achievement
sales orientation, integrated effort, goal achievement
4
An ‘effective marketing mix’ ...
is well balanced
is over-balanced
exceeds corporate resources
does not require a competitive advantage
5
What is meant by ‘perceived value’?
What customers think that they are buying.
What you think that you are better at compared to the competition.
That what you think that you are selling.
The price that your customers are expecting to pay for your product.
6
The starting point for the marketing concept is a unique product.
True
False
7
‘Packaging’ falls under which element of the marketing mix?
product
place
price
promotion
8
The marketing mix represents your strategies for achieving your marketing objectives.
True
False
9
The 'people' P in the marketing mix refers to...
lapsed customers
current customers
potential customers
employees of the company
10
What are the additional 3 P’s of the marketing mix?
people, population, process
people, process, physical evidence
people, production, process
people, process, psychological evidence
11
Marketing is only for profit-making businesses.
True
False
12
Customers weigh up perceived benefits and the perceived sacrifice to figure out...
competitive value
distributor value
customer value
seller value
13
Another word for ‘corporate activities focused on providing customer satisfaction’ is...
production orientation
customer orientation
sales orientation
product orientation
14
The marketing concept articulates a...
market orientation
selling orientation
product orientation
sales orientation
15
The 4 P’s of marketing are referred to as...
the marketing mix
the product mix
the marketing bundle
the marketing mixture
16
For an exchange to take place...
...there must be at least three parties.
...there must be at least two parties.
...only one party has something of value to the other party.
...each party must be able to reject the exchange offer.
17
The recipe for marketing success is...
understanding deceptive tactics
understanding your customers
understanding your customers and your competition
understanding your competition
18
Missing word? Marketing plans and executes the conception, - - -, promotion and distribution of goods and services.
advertising
delivery
pricing
design
19
What is good marketing trying to do?
Trick us to buy.
Only satisfy organisational objectives.
Only satisfy customer objectives.
Create an exchange.
20
Missing word? Marketing is responsible for identifying, anticipating and - - - customer requirements profitably.
satisfying
promoting
creating
planning
