Refers to the benefits a customer receives from purchasing a good or service
The Marketing Concept
Marketers first identify consumer needs and then provide products that satisfy those needs. This practice (management philosophy) is referred to as
Share of Mind
The internet has created a paradigm shift for businesses, moving us toward an attention economy in which a company’s success will be measured by its
Which of the following is a major marketing decision for mot companies
Which products to market to which consumers without turning off other consumers
Is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
The product’s differential benefits
A new shampoo advertisement on television tells all of the wonderful benefits the consumer will enjoy using one company’s shampoo as opposed to another shampoo.
Buyers, sellers, investors, and community residents are all considered_____ in a company
The packaging
Which of the following is part of the product element of the marketing mix
Which of the following lists the three components of the triple bottom line orientation
the financial bottom line, the social bottom line, and the environmental bottom line
green marketing
Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers
Which of the following is the industry term for inventory and cash losses from shoplifting and employee theft
value proposition
A __________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.
Which element of the marketing mix is most closely associated with a company’s supply chain
In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following
Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of a
a seller’s market in which demand is greater than supply
In which kind of market would a production orientation be most successful
market segment
A _______ is a distinctive group of customers within a larger market who are similar to one another is some way and whose needs differ from other customers in the larger market
When a gap exists between a consumers’ actual state and some ideal or desired state, the consumer has a
a decision about one of the Ps will most likely require adjustments in every other component of the marketing-mix decision
Which of the following is a true statement about the Four Ps of the marketing mix
price, product, place, and promotion
The Four Ps are ___________
return on investment (ROI)
The direct financial impact of a firm’s expenditure on marketing activities is called the_____
target market
A ______ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts
A customer’s desire for a product coupled with the buying power or resources to obtain that product is called a____
integrating marketing with other business functions
Which of the following is a current business trend
selling orientation
Jolene’s firm markets pre-planning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she much somehow first get their attention. Jolene’s firm most likely uses the _________.