Chp 1 Contemporary Marketing

Question 1

Marketing

Answer 1

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

Question 2

Production orientation

Answer 2

Occurs when organizations pay little attention to what customers need focusing on what they are capable of producing

Question 3

Selling orientation

Answer 3

Occurs when companies believe that the more they sell the more profit they will make

Question 4

Marketing concept

Answer 4

The process of determining the needs and wants of a target market

Question 5

Brand democratization

Answer 5

A situation where the customer can interact with the brand giving the customer control over the marketing of the brand

Question 6

Market

Answer 6

A group of people who have a similar need for a product or service

Question 7

Market analysis

Answer 7

The collection of information to determine if a market is worth pursuing

Question 8

Marketing mix

Answer 8

Product price distribution and market communication

Question 9

Marketing channel

Answer 9

A series of firms that assist in the flow of product to final user

Question 10

Marketing communications strategy

Answer 10

The blending of advertising sales promotion event marketing and sponsorship to present a consistent message

Question 11

Integrated marketing communications (IMC)

Answer 11

Combination of marketing programs into a unified program that maximizesimpact

Question 12

Customer relationship management

Answer 12

Strategies designed to optimize profit based on customer satisfaction