Marketing Final

Which activity is part of the production process?

• Deciding whether to sell goods directly to consumers or through retailers
• Identifying competing companies
• Determining how many people will want to purchase goods or services
• Making goods or performing services

______ __________ can be defined as the extent to which a firm fulfills a customer's needs, desires and expectations.

• Customer Value
• Customer Equity
• Customer Satisfaction
• Social Responsibility

Which activity represents the basic goal of the marketing concept?

• Satisfying customers at a profit
• Making a profit at whatever cost
• Aligning with government goals
• Producing the largest assortment of goods

Which statement is least likely a reason why a restaurant may have low customer value?

• The restaurant has an unfavorable location
• The cost of the dining experience is less than its perceived value
• Food is not flavorful
• Dining experience is not worth the long wait for the table

A ______ ________ specifies a target market and a related marketing mix.

• Marketing Strategy
• Market Program
• Marketing Report
• Market Test

The variables that a company puts together in an attempt to satisfy a particular set of customers that it wants to appeal to is a

• Target Market
• Marketing Mix
• Product
• Sales Promotion

The customer is

• The entitiy that selects a marketing mix
• The target of a marketing mix
• Not related to a marketing mix
• A secondary component of a marketing mix

Which variable of the marketing mix may involve a physical good, a service or a blend of both?

• Price
• Product
• Promotion
• Place

Which of the four P's of the marketing mix are retailers, wholesalers, warehouses, and transportation firms associated?

• Price
• Place
• People
• Promotion

Which statements about marketing mix variables is FALSE?

• The needs of a target market often virtually determine the nature of an appropriate marketing mix
• Promotion includes personal selling, mass selling, adn sales promotion
• The term 'product' can refer to services as well as physical goods
• Marketing mix variable 'price' is more important than 'place'