Marketing Exam Chapters 1 - 10

Marketing Exam Chapters 1 - 10 - 1 Marketing is the Process...

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1. Marketing is the Process of: Promoting products through personal selling and advertising to facilitate satisfying exchange relationships Creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers in a dynamic environment Delivering a standard of living to a society creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives Focusing on the customer's needs 2. The focal point of all marketing activities is: Products Target markets Customers Sales Profits 3. A target market Involves a large numbers of customers Is a specific group of customers on whom a company focuses its marketing efforts? Already has several competitors vying for the customers' business Is the same as the salesperson’s client list? Is a customer group that includes persons with similar demographic characteristics? 4. The marketing mix Consists of a target market Is difficult for an organization to control Directly affects the marketing environment Focuses mainly on selling activities and advertising decisions Includes product, distribution, promotion, and pricing decisions 5. A physical, concrete product you can touch is a (n) Good Service Idea Concept Philosophy 6. The forces of the marketing environment are Sociocultural, legal, regulatory, economic, and competitive Competitive and noncompetitive forces that affect most lifestyles
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Political, legal, regulatory, sociocultural, technological, economic, and competitive Fairly static Legal, regulatory, political, and sociocultural 7. The marketing plan is A plan of all aspects of an organization's strategy Written for each SBU
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