Chapter 1

Question 0

An organizational function and set of processes for creating communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and it’s stakeholders.

Answer 0

Marketing

Question 1

Marketers who use e-commerce in their strategies.

Answer 1

e-marketers

Question 2

The process and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Answer 2

Marketing

Question 3

The ultimate user of a good or service.

Answer 3

Consumer

Question 4

A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization’s long-term profitability.

Answer 4

Marketing Concept

Question 5

The desire to satisfy needs in specific ways that are culturally and socially influenced.

Answer 5

Want

Question 6

The outcome sought by a customer that motivates buying behavior that satisfies a need or want.

Answer 6

Benefit

Question 7

Customers’ desire for products coupled with the resources to obtain them.

Answer 7

Demand

Question 8

All of the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange.

Answer 8

Market

Question 9

A marketplace offering that fairly and accurately sums up the value that will be realized if the product or service is purchased.

Answer 9

Value Proposition

Question 10

Any location or medium used to conduct an exchange.

Answer 10

Marketplace

Question 11

The process by which some transfer of value occurs between a buyer and a seller.

Answer 11

Exchange

Question 12

A tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process; a bundle of attributes including features, functions, benefits, and uses.

Answer 12

Product

Question 13

The goods purchased by individual consumers for personal or family use.

Answer 13

Consumer Goods

Question 14

Intangible products that are exchanged directly from the producer to the customer.

Answer 14

Services

Question 15

Marketing of those goods and services that business and organizational customers need to produce other goods and services, for resale or to support their operations.

Answer 15

business-to-business marketing

Question 16

Goods bought by individuals or organizations for further processing or for use in doing business.

Answer 16

industrial goods

Question 17

The buying of selling of goods and services electronically, usually over the internet.

Answer 17

e-commerce

Question 18

Organizations with charitable, educational, community, and other public service goals that buy goods and services to support their functions and to attract and serve their members.

Answer 18

not-for-profit organizations

Question 19

A combination of the product itself, the price of the product, the place where it is made available, and the activities that introduce it to consumers that creates a desired response among a set of predefined consumers.

Answer 19

marketing mix

Question 20

The coordination of a marketer’s marketing communications efforts to influence attitudes or behavior; the coordination of efforts by a marketer to inform or persuade consumers or organizations about goods, services, or ideas.

Answer 20

promotion

Question 21

The availability of the product to the customer at the desired time and location.

Answer 21

place

Question 22

A philosophy that sees marketing as a process of building long-term relationships with customers to keep them satisfied and to keep them coming back.

Answer 22

customer relationship management (CRM)

Question 23

A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy.

Answer 23

marketing plan

Question 24

All possible customers in a market, regardless of the differences in their specific needs and wants.

Answer 24

mass market

Question 25

A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

Answer 25

market segment

Question 26

The market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

Answer 26

target market

Question 27

The way in which the target market perceives the product in comparison to competitors.

Answer 27

market position

Question 29

Management philosophy that emphasizes the most efficient ways to produce and distribute products.

Answer 29

product orientation.

Question 30

A managerial view of marketing as a sales function, or a way to move products out of warehouses to reduce inventory.

Answer 30

selling orientation

Question 31

A management philosophy that focuses on ways to satisfy customers’ needs and wants.

Answer 31

consumer orientation

Question 32

A management philosophy in which marketing means a devotion to excellence in designing and producing products that benefit the customer plus the firm’s employees, shareholders, and communities.

Answer 32

New Era orientation

Question 33

The usefulness or benefit consumers receive from a product.

Answer 33

utility

Question 34

The music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market.

Answer 34

popular culture