CH1

Question 1

Marketing

Answer 1

process of planning and
executing the conception, pricing, promotion, and
distribution of products, services, and ideas to
create exchanges that satisfy individual and
organizational objectives.

Question 2

Market

Answer 2

People or organizations with needs,
an exchange medium, and a
willingness to engage in the
exchange process

Question 3

Form Utility

Answer 3

Product functions

Question 4

Time Utility

Answer 4

Satisfaction from when product is wanted

Question 5

Place Utility

Answer 5

Satisfaction from where

Question 6

Possession Utility

Answer 6

Ownership satisfaction

Question 7

Image Utility

Answer 7

Ego and branding

Question 8

Marketing Mix

Answer 8

combination of
inter-related and
interdependent
marketing
activities employed
by organizations to
meet objectives

Question 9

Marketing Mix components

Answer 9

Place, Product, Pricing, and promotion

Question 10

Place stands for

Answer 10

Distribution

Question 11

Promotion mix

Answer 11

Ads, personal selling, sales promotion, publicity, and public relations

Question 12

Product Concept

Answer 12

Acceptable quality products at affordable prices sell themselves. Minimize cost. Focus on p&d effeciency

Question 13

Selling Concept

Answer 13

Customer must be convinced to buy. Maximize sales, focus on promotion

Question 14

Marketing concept

Answer 14

Satisfy Customer, focus on marketing mix

Question 15

Societal Marketing Concept

Answer 15

Act in a socially acceptable manner

Question 16

Relationship Marketing

Answer 16

Satisfied Customer wants and needs build relationships