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MKTG Exam 1 > Chapter 1 To Know > Flashcards

Chapter 1 To Know Flashcards

1
Q

The 4 P’s

A

Product
Price
Place
Promotion

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2
Q

Anytime a company attempts to build a relationship or sell a product what is occurring

A

Marketing

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3
Q

The marketing concept starting point

A

Market

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4
Q

The marketing concept focus

A

Customer needs or wants

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5
Q

The marketing concept means

A

Integrated marketing

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6
Q

The marketing concept ends

A

Profits through customer satisfaction

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7
Q

The marketing concept is what type of focus

A

Outward focus

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8
Q

Marketers create value through what

A

Products

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9
Q

Products can be (6) when creating “value”

A 
Physical objects 
People 
Organizations
Places 
Information 
Ideas
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10
Q

Everyone in the supply chain is a

A

Customer

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11
Q

The selling concept starting point

A

Factory

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12
Q

The selling concept focus

A

Existing products

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13
Q

The selling concept means

A

Selling and promoting

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14
Q

The selling concept ends

A

Profits through sheer volume

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15
Q

What do we already make and how can we be better at it refers to what concept

A

The selling concept

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16
Q

When you focus on selling only that results in what

A

Marketing myopia

17
Q

The selling concept has what direction of focus

A

Inward focus

18
Q

Societal marketing concept focuses on what three things

A

Consumers( want satisfaction)
Company (profits)
Society (human welfare)

19
Q

Actually believing in the company and their products

A

Customer loyalty

20
Q

Superior customer value results in (5)

A 
Customer loyalty and retention 
Customer referrals 
More customers 
Customer equity 
Higher profits
21
Q

What is the goal of building and capturing customer value

A

To create true friends and customer evangelists

22
Q

When people endorse how much they like your product

A

Consumer-generated marketing

MKTG Exam 1 (9 decks)

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