Marketing Ch 1 Review for Test

Customers, supply chain partners and society at large are considered...

CRM stands for

Marketing does not entail an exchange.

Another name for the supply chain management is marketing channel management.

The marketplace can be referred to as "the world of trade".

During this era the shopping center was born. A product example is Bath & Body Works.

Marketing expands firms' global presence.

What is the term for everything the buyer gives up in exchange for the product?

Which are the 4 Ps?

It's practical for Marketers to sell their products to everyone.

This refers to creating value.

_____ are intangible customer benefits that are produced by people or machines.

This refers to delivering value.

Someone or something affected by a product or service is called a stakeholder.

These are items that are considered tangible.

The customer's desire and willingness to purchase a product.

Developing, promoting, and distributing products to satisfy customers’ needs and wants is

Promotions can enhance a product's value or service.

This refers to capturing value.

Which of the following are NOT stakeholders?

Thoughts, opinions, and philosophies; intellectual concepts such as these can be marketed as...

What will companies use to persuade and inform the buyer?

The "Got Milk" ad campaign was designed to help market _______.

During this era, there were heavy doses of personal selling & advertising.

This is the trade of things of value between a buyer and a seller.

Buyers give money & information to the seller.

Which of the 4 Ps involves supply chain management?

Marketing makes life easier and provides employment opportunities.

What is another name for the 4Ps?

During this era, most companies believed a good product would sell itself.

The Marketing Mix is broken down into five parts.

___ is the trade of things of value between buyer and seller.

Marketing does not affect society in general.

Place is all the activities to get the product to the right customer when they want it

In _____, merchandise or services are sold from one business to another.

A group of firms that make and deliver a given set of goods and services is called

This refers to communicating value.

Determining how much to charge for goods & services is called

The marketing mix includes

Communicating w/ potential customers to inform, persuade, or remind them is called

Involves providing additional value to customers to act as collaborators in creating products.

Marketers will determine the ____ carefully on the basis of what the buyer will pay for it.

What is the process called in which businesses sell to consumers?

Includes the four P's.