ch1

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School

San Jose State University *

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130

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Marketing

Date

Apr 3, 2024

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docx

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Uploaded by JusticeUniverse11725

CH1 According to the Nike case, which of the following are among the keys to Nike’s success? - Signing popular athletes to endorse products - Innovative new products True or false: Marketing today consists of just selling and advertising. False The term production refers to which of the following? (Check all that apply.)  Performing services  Making goods True or false: For some goods and services, the cost of marketing accounts for about half of what the consumer pays for them True Marketing will be beneficial to you, as a student, because ______. it will help you to promote yourself According to this case, Nike introduced its Nike+ apps for smartphones in part to build long-term relationships with customers Which of the following are reasons why marketing can be important for future employment? (Check all that apply.)  Marketing can help in selling your ideas in a new job.  Marketing can help in getting a job. Which one of the following statements describing marketing is correct? Marketing involves more than just selling or advertising. ______ is the creation and adoption of new ideas, goods, and services. Innovation The term " _____" refers specifically to manufacturing goods or performing services. Production Which of the following are the basic ways of viewing marketing? (Check all that apply.)  From a macro view, as a function of society  From a micro view, as a function carried out by companies Which of the following are reasons for studying marketing?  Because marketing costs can be an important part of a product's price, we should know what we are paying for.  Marketing helps ensure that the things we buy are available when we need them.  We are all consumers, so we should learn about buying and selling.

The activities in a firm that try to identify customer needs and focus the flow of goods or services in the firm in order to meet those needs is called Marketing Which of the following statements are true about the usefulness of studying marketing? (Check all that apply.)  Marketing offers many interesting jobs.  Marketing concepts can help "sell" yourself to a potential employer. Which of the following are benefits of having an understanding of marketing? (Check all that apply.)  Seeing how marketing relates to a variety of human activities  Giving you ideas about how to sell your ideas in a new job  Helping you to be more effective in your job True or false: The National Cancer Society is an example of an organization that does not need to use marketing. False Marketing spurs , which means coming up with new ideas, goods, and services. Innovation The ______ view of marketing is concerned with marketing as performed by individual companies. Micro Which of the following involves meeting the goals of an organization by anticipating customer needs and ensuring that the organization's products or services can help satisfy those needs? Marketing Which of the following is not true about marketing? It should take control of production, accounting, and finance in order to be more effective. Which of the following are true with respect to marketing and production? (Check all that apply.)  Marketing investigates what the future needs of customers might be.  Marketing starts with the potential needs and wants of customers. Which of the following statements are true with respect to marketing and nonprofit organizations?  Government agencies can be customers of nonprofit organizations.  The clients of a nonprofit organization may be consumers or business firms.  The marketing objective for a nonprofit organization may be to increase membership. To be most effective, marketing should:  interpret customer's needs.  provide direction for production and finance. Marketing requires that ______. two or more parties be willing to engage in an exchange The macro view of marketing sees marketing as a(n) ______ process. Social A marketing exchange is ______.

usually part of an ongoing relationship Which of the following statements about marketing are correct? (Check all that apply.)  Marketing is more than just persuading customers.  Marketing builds relationships with customers. Which of the following are used to promote marketing ideas?  Charities  Political parties  Entrepreneurs Effective marketing should start with ______. potential customer needs and wants Which of the following accurately describes macro-marketing? It is a social process. Marketing will be most successful if it: coordinates with production, accounting, and financial activities. Which of the following are part of the role of a macro-marketing system? (Check all that apply.)  To help ensure that the society's objectives are met  To match heterogeneous supply and heterogeneous demand  To get products to consumers at the right time, place, and price Which of the following are true with respect to exchange in marketing? (Check all that apply.)  Sellers offer to exchange something that meets a need.  Marketing involves a willingness of at least two parties to engage in exchange. True or false: Producers and consumers often have different aims, which can make marketing effectively difficult. True The two goals of a marketing exchange are to:  build an ongoing relationship with the customer.  determine future production needs. The universal functions of marketing include which of the following? (Check all that apply.)  Market information  Selling  Storing True or false: Management-oriented micro-marketing skills are only important to those who want to manage a major corporation. False Which of the following marketing functions involves seeking and assessing goods and services? Buying

Retailers and wholesalers are two kinds of Blank ______, marketing specialists who play a role in trade rather than production. intermediaries Why is effective marketing difficult in an advanced economy? Producers and consumers often have different aims. The processes of buying, selling, shipping, storing, financing, and risk-taking are components within the _____ functions of marketing. Universal Which of the following statements about the marketing functions from a micro viewpoint is true? Marketing functions can be shared among firms in various ways. The function concerns locating a product and judging its suitability. Buying Which of the following is a basic function of an economic system? To produce goods and services from the limited resources available to a society Which of the following is a market specialist whose role in the exchange process is to focus on trade? Intermediary

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