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Intro to basic marketing concepts - HISS2019 IMC Flashcards | StudBud
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Intro to basic marketing concepts - HISS2019 IMC
Intro to basic marketing concepts - HISS2019 IMC
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A #marketing #quiz for the #HISS2019 #IMC
Flashcards
29 cards
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Questions
29
Answers
1
Any discussion of the marketing mix typically begins with the
promotion
price
product
place
2
As it relates to customers, the aim of marketing is to
generate repeat sales from each and every customer
accurately and truthfully advertise the product
provide customers with value
reduce the number of customer complaints
3
The firms used to believe that quality products would sell themselves during:
marketing concept
relationship marketing
sales orientation
production orientation
4
What is the secret of great marketing when it comes to creating value?
understanding the marketplace demands before competitors do
figuring out how to charge the highest price for a product
consistently creating new products for the marketplace
filling the market with all forms of advertising promotions
5
What is the premise behind the marketing concept?
a focus on satisfying the needs of the customer
an interest in streamlining production processes
a companywide focus on increasing profits
focusing on keeping the company stakeholders satisfied
6
What is the key to creating value?
accurately advertising a product
providing consumers with benefits that meet their needs
being the first to create a new product or service
making products priced lower than the competition
7
The global network used to create and deliver products is referred to as
logistics
the production cycle
the supply chain
the marketing chain
8
In marketing, states of felt deprivation are referred to as
desires
wants
cravings
needs
9
What is a person looking to satisfy if he or she feels deprived of basic necessities?
a need
a craving
a dilemma
a want
10
The name/term/symbol/design, or any combination of these that identifies a firm's products is
brand.
identifier.
patent.
trademark.
11
Wants are the form that human needs take and are shaped by
personality, culture, and buying situation.
culture, money, and geography.
lifestyle, demographics, and economic conditions.
time, money, and expense.
12
The marketing concept began to emerge in the
1950s
1970s
1990s
1930s
13
What is the most basic concept in marketing?
determining the best advertising outlet for a product
streamlining production costs to generate maximum profits
satisfying the needs of stakeholders
determining the difference between consumer needs and wants
14
Which of the following questions relates to the price element of the marketing mix?
How long has my product existed?
Should I offer customers a discount?
Do I need to hire salespeople?
How much inventory should I have?
15
Which marketing mix element describes what a buyer exchanges with a seller?
place
promotion
product
price
16
The activity of buyers/sellers trading things of value that each is better off as a result is
an exchange
personal selling
bartering
merchandising
17
As you begin looking for a job after you graduate, it will be critical for you to know how to
communicate value
explain value
create value
deliver value
18
Taking a marketing course can help your career in all of the following ways EXCEPT
by helping you reach professional goals.
by helping you communicate your value
by helping you determine what career field you should enter.
by helping you market yourself to get a job after college.
19
Which of the following accurately represents the 4 Ps of the marketing mix?
production, promotion, profit, and participation
product, price, place, and promotion
promotion, place, profit, and preference
product, price, promotion, and perception
20
All of the following are considered to be external stakeholders of a firm EXCEPT
managers.
suppliers.
government.
customers.
21
Which marketing strategy was especially important during the Great Depression?
customer orientation
production orientation
sales orientation
marketing concept
22
In marketing, an exchange refers to
replacing a non-effective form of advertising
trading things of value that each is better off as a result
the money paid by a consumer for a product or service
bartering products/services for other products/services
23
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT
price
promotion
profit
place
24
The perceived benefits, that customers receive from a product compared to its cost is
a marketing exchange
customer value
the marketing mix
relationship marketing
25
Which marketing mix element involves decisions regarding logistics, managing the supply chain?
place
promotion
price
product
26
Which era in the history of marketing continued until the end of World War II?
production orientation
marketing concept
sales orientation
relationship marketing
27
The four Ps are more formally referred to as the marketing
concept.
dimensions.
mix.
matrix.
28
Ethics is defined as moral standards expected by
an organization.
employees.
the AMA.
a society.
29
The focus of the marketing concept era was on
sales
customers
production
competition
