Multiple Qustions for Marketing 100 ( Foundation of Marketing Chapter 1)

1. The element of the marketing mix used to increase awareness of a product or company is

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2. Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

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3. Marketing knowledge and skills

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[removed]		are not necessary for a nonprofit organization.
[removed]		enhance consumer awareness and help provide people with satisfying goods and services.
[removed]		constitute the marketing mix.
[removed]		were most important during the production era.
[removed]		are most valuable for advertising executives but less important for wholesalers and distributor

4. The focal point of all marketing activities is

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5. ____ is the degree to which an exchange helps achieve an organization’s objectives.

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6. In managing customer relationships, the three primary ways profits can be obtained are by

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[removed]		acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
[removed]		enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
[removed]		extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
[removed]		eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
[removed]		enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

7. The marketing concept is best defined as

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[removed]		a second definition of marketing.
[removed]		a philosophy stating that an organization should try to satisfy customers’ needs through a coordinated set of activities that allows the organization to achieve its goals.
[removed]		the performance of business activities that direct the flow of goods and services from producer to customer or user.
[removed]		a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
[removed]		the inclusion of marketing activities in the activities of an organization.

8. The equation a buyer applies to assess a product’s value is

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[removed]		value = monetary price â€“ customer benefits.
[removed]		value = customer costs â€“ customer benefits.
[removed]		value = customer benefits â€“ customer costs.
[removed]		value = customer benefits â€“ monetary price.
[removed]		value = customer benefits â€“ time and effor

9. ____ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges.

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10. Marketing management is defined as a process of

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[removed]		maintaining an appropriate and efficient marketing mix for a target market.
[removed]		establishing performance standards and evaluating actual performances against these standards.
[removed]		providing products that satisfy customers’ needs through a coordinated set of activities.
[removed]		facilitating satisfying exchanges between an organization and its customers.
[removed]		planning, organizing, implementing, and controlling marketing activities