Anything that provides a bundle of tangible or intangible characteristics or attributes geared toward satisfying customers' wants and needs best defines ____________ .
1. A service
2. The customer service department in the firm
3. A firm's mission
4. A product
5. A market
Answer: 4
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Introduction to Marketing
- If the owners of Six Flags over Georgia want to know where the amusement park's patrons are coming from, they could send an employee out to collect the state names from the license plates of cars parked in the Six Flags' parking lot. This is an example of the ___________ method of gathering marketing research.
- __________ is a good example of a field experiment.
- One of the biggest mistakes in marketing research is to:
- The first step in the marketing research process is to:
- The Eli Cutter test market discussed in class probably failed because:
- Barbara has opened a small business. She is selling a bottled mixture of hot and mild peppers, stuffed green olives and spices. The product is distributed by mail. So far, no promotion other than word-of-mouth has been needed. For only $4.75, you can buy a pint jar of the mixture that you can use on everything from chili to Chinese food. The preceding describes the ______________ for Barbara's company.
- (T/F) The film clips presented in class contrasting Ford and GM illustrate two firms that clearly were practicing dramatically different 'business philosophies.' The philosophy illustrated by Ford was the marketing concept, while the philosophy illustrated by GM was the production concept.
- "A total system of business activities designed to plan, price, promote, and distribute want-satisfying products to target markets to achieve organizational objectives" is the text's definition of:
- (T/F) Every morning Pete buys a newspaper from the vending machine located just outside of his office building. The vending machine creates form and time utility.
- Air conditioning systems that are manufactured in December will be stored until customers are ready to buy them in the Spring. The act of storing these systems creates ________ utility for customers.
- Nationwide Cars sells pre-owned cars. Its salespersons are expected to do whatever is necessary to reach their sales quotas. Aggressive selling is required for success, and unethical sales tactics, such as selling features that customers do not really need, are tolerated. Nationwide is being operated as if it is at the ____________ stage of marketing thought.
- (T/F) Wilson Farms grows some of the finest strawberries in Florida. Customers come from miles away to pick its succulent berries. Last year, its owner increased its production ability by almost 50 percent. The farm owner assumed that customers would pick Wilson Farms' strawberries because the berries were of good quality and reasonably priced. Andover Farms is acting as if it is in the product-orientation stage of marketing thought.
- Which of the following statements best reflects the adoption of the societal marketing concept by a manufacturer of disposable diapers?
- (T/F) With relationship marketing a company is hoping to establish a feeling of goodwill with its customers, suppliers, employees, and competitors as well as a sense that the firm cares about more than making a sale.
- Manufacturers in the _______ stage typically focus on increasing output while assuming that customers will seek out and buy reasonably priced, well-made products.
- To which element of the marketing mix do personal selling and advertising decisions relate most closely?
- To which element of the marketing mix do branding and labeling decisions relate most closely?
- Probably the most critical 'premise' of the marketing concept is:
- (T/F) Although many activities are essential to a company's growth, marketing is the only one that directly produces revenue.
- When bread is baked,____________ utility is created.
- A manufacturer sells its products to wholesalers. These wholesalers then resell the products to retailers in the geographic areas in which they operate. You and I then buy these products from one or more of these retailers. This 'link' between producers on one end and consumers on the other is typically referred to as the: