An example of a company that changed marketing strategies in response to consumer demands

McDonald's offering healthier apples in happy meals

All the following are true about market size EXCEPT

Measured by amount of employees

Arrangement where buyers and sellers exchange goods/services

To market a service instead of a good, a company will focus on...

The quality of the service based on reviews and ratings

Marketing attempting to change behavior to benefit society.

Product Orientation is:

Focused on making the product first and then trying to sell

Which is NOT a definition of marketing?

Specifically just the selling and advertising of a product

All of the following are characteristic of marketing for a non-profit business EXCEPT

Main objective is to earn profits

These are all benefits of social media marketing EXCEPT

Stand out easily from competitors

The marketing of services requires businesses to

Be aware of social and cultural norms

This is an example of innovation

MP3s and downloadable music files

These are all examples of ethics EXCEPT

A wedding dress shop providing exceptional customer service

Operations Management works with marketing to...

Develop, test, and launch products that meet consumer needs

Market Orientation is:

Focused on satisfying customers demand

Gain or loss in percentage of one year’s profits to the next

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Unit 4.1 - The Role of Marketing

21 termsStudBud Administration518 plays

#IB SL #BusinessManagement #Vocabulary and Concepts

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Questions 21

Answers

1
An example of a company that changed marketing strategies in response to consumer demands
McDonald's offering healthier apples in happy meals
Blockbuster not changing their DVD distribution to online
Nike's slogan "Just Do It"
Sephora updating their perfume options every season
2
These are all examples of commercial marketing EXCEPT
A billboard
A commercial
a hashtag on Twitter
An ad on a website
3
These are all examples of Product Orientation EXCEPT
Wii Switch
Tesla Self-Driving Car
Forever 21 Dress
The Iphone X
4
All the following are true about market size EXCEPT
Measured by value - the amount of money spent by customers
Measured by volume- amount of product bought by consumers
Measured by amount of employees
Total sales of all business
5
All of these are examples of culture EXCEPT
The way a store employee greets customers
The dress code for employees at a business
The company's profits
Values/beliefs expressed by the company and their products
6
These are all examples of Market Orientation EXCEPT
Starbucks Frappucino
Lay's Fried Chicken and Waffles Chips
Levi's Jeans
Roomba
7
Finance works with marketing to...
Develop, test, and launch products that meet consumer needs
Agree on a budget
Determine the consumer's needs, wants, and demands
Hire the right members of the department
8
A Market is
Arrangement where buyers and sellers exchange goods/services
The price range for a good or service
A physical location for consumers to buys a good or service
A group of people that have heard of a good or service
9
To market a service instead of a good, a company will focus on...
The quality of the service based on reviews and ratings
The duration of the service
The quality of the service based on prices
Just the location of the service
10
A Market leader must have
the most loyal customers in the market
the highest market share
the best products on the market
the most innovation
11
Social Marketing is
Marketing attempting to change behavior to benefit society.
Marketing that uses social media
Marketing good and services
Marketing medical services
12
Product Orientation is:
Focused on selling at all costs
Focused on orienting the product with the market leaders
Focused on market research then making products that sell.
Focused on making the product first and then trying to sell
13
Which is NOT a definition of marketing?
Right product to right customer at right price at right time
Satisfying a customer's wants, needs, and demands
Identifying and anticipating consumer needs profitably
Specifically just the selling and advertising of a product
14
All of the following are characteristic of marketing for a non-profit business EXCEPT
Raises funds through fundraising and public relations
Main objective is to earn profits
Supporting behavioral and societal change
Raises funds and awareness
15
These are all benefits of social media marketing EXCEPT
Stand out easily from competitors
Free and/or low cost
Users can leave feedback and reviews
Creates a relationsip with the consumer
16
The marketing of services requires businesses to
Outsource production to overseas factories
Make eye contact with every customer
Be aware of social and cultural norms
Ignore industry standards
17
This is an example of innovation
Barber shop
Coca Cola Classic
MP3s and downloadable music files
Kool Aid
18
These are all examples of ethics EXCEPT
A local business donating some profits to local schools
Google allowing employees to take days off to volunteer
A bakery donating their leftover bread to a homeless shelter
A wedding dress shop providing exceptional customer service
19
Operations Management works with marketing to...
Hire the right members of the department
Agree on a budget
Develop, test, and launch products that meet consumer needs
Determine the consumer's needs, wants, and demands
20
Market Orientation is:
Focused on satisfying customers demand
Orienting the maket towards the right location
Inventing new products to improve society
Focused on innovating new products to create consumer demand
21
Market growth is
The same as market share
based on the amount of customers
Gain or loss in percentage of one year’s profits to the next
Based on the range of products sold by the company

Unit 4.1 - The Role of Marketing Flashcards | StudBud