Marketing: Real People, Real Choices, 10e (Solomon)Chapter 1 Welcome to the World of Marketing: Create and Deliver Value 1) A ________ is the ultimate user of a good or service. A) stakeholderB) marketC) target market D) marketerE) consumerAnswer: EDifficulty: EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 2) ________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 3) The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.
4) The four Ps are ________. 5) Which of the following is a true statement about the four Ps of the marketing mix? A) A decision about one of the Ps affects every other marketing-mix decision.B) Price is always the most important of the four Ps.C) Place is typically the least important of the four Ps.D) The four Ps have little effect on a product's market position.E) The four Ps are used to determine a product's target market.Answer: ADifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketingAACSB: Written and oral communication6) Which of the following is part of the product element of the marketing mix?
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- Summer '17
- Prof Farshad Salman