CH 1 QUIZ -Introduction to Marketing

Which of these is not a responsibility of Marketing?

Fulfilling product shipments

True or False: The customer should ideally be at the center of the marketing process.

True

According to the most recent marketing mix, how many Ps are there in total?

7

Consider a candy bar sold in a vending machine. The vending machine would represent which of the Ps of the marketing mix?

Place

A restaurant's decor would be considered which of the 7 p's?

Physical Evidence

How do the selling concept and the marketing concept differ?

The marketing concept focuses on creating a product around demand. The selling concept focuses on creating demand around a product.

Which is an example of price?

Odd pricing (.99)

Which of these is NOT true about the 7 Ps of marketing?

The 7 Ps focus on advertising

True or false: The Marketing mix framework shows that promotion is not all that marketing is.

True

Why are relationships important in marketing?

Happy customers are willing to pay more for solutions from the brands they love, happy customers are more immune to competing offers, will readily advocate for their fav brands through word-of-mouth marketing

Marketing Mix

The building blocks that a marketer can adjust to affect the overall marketing strategy of a product.

Physical Evidence

The tangible elements in the place that the good or service is sold.

Process

The flow of activities involved in providing goods, services, and ideas to the customer.

The Marketing Concept

a management orientation that focuses on identifying and satisfying consumer needs to ensure the organization's long-term profitability.

The 7ps of marketing

Product, Price, Place, Promotion, People, Physical Evidence, Process

Product

a good, service, or idea to satisfy the consumer's needs