Contemporary Marketing

Question 1

is the activity, set of instituions and process
for creating, communicating, delivering and exchanging
offerings that have value for customers, clients,
partners and society”

Answer 1

Marketing

Question 2

The power of a good or service - to satisfy the wants of
consumers

Answer 2

Utility

Question 3

Four Types of Utility

Answer 3

1. Possession
2. Form
3. Time
4. Place

Question 4

conversion of raw materials into
finished goods and services

Answer 4

Form

Question 5

-Availability of goods and services when consumers want them

Answer 5

Time

Question 6

Availability of goods and services at convenient locations

Answer 6

Place

Question 7

Ability to transfer title to products from marketer to buyer

Answer 7

Ownership (Possession)

Question 8

5 eras of Marketing

Answer 8

1. Production
2. Sales
3. Marketing
4. Relationship
5. Social

Question 9

A good product will sell itself

Answer 9

Production Era

Question 10

Creative advertising and selling will overcome consumers resistance and persuade them to buy

Answer 10

Sales Era

Question 11

managers pay close attention to the
markets for their goods and services.

Answer 11

Marketing Era

Question 12

customer
orientation by focusing on establishing and maintaining
relationships with both customers and suppliers.

customer
orientation by focusing on establishing and maintaining
relationships with both customers and suppliers.

Answer 12

Relationship Era

Question 13

era,companies now routinely use the Web and
social networking sites to connect to consumers as a way to market goods
and services.

Answer 13

Social Media Era

Question 14

is management’s failure to
recognize the scope of its business.

Answer 14

Marketing Myopia

Question 15

Who coined the term marketing myopia?

Answer 15

Theodore Levitt

Question 16

their goal is to generate
revenues above and beyond their costs to make money for all
stakeholders involved, including employees, shareholders, and the
organization itself.

Answer 16

For profit organization

Question 17

to generate as much revenue as possible
to support their causes, whether it is feeding children, preserving
wilderness areas, or helping single mothers find work.

Answer 17

Not-for profit organization

Question 18

Categories of Non Traditional Marketing

Answer 18

1. Person Marketing
2. Place Marketing
3. Cause Marketing
4. Events Marketing
5. Organization Marketing

Question 19

Marketing efforts designed to cultivate the attention and preference of a target market toward a person

Answer 19

Person Marketing

Question 20

Marketing efforts designed to attract visitors to a particular area; improve consumer images of a city, state or nations; and/or attract new businesses

Answer 20

Place Marketing

Question 21

Identification and marketing of a social issue, cause or idea to selected target markets

Answer 21

Cause Marketing

Question 22

Marketing of sporting, cultural and charitable activities to selected target markets

Answer 22

Event Marketing

Question 23

Marketing efforts of mutual - benefit organizations - service organizations, and government organizations that seek to influence others to accept their goals, receive their services, or contribute to them in some way

Answer 23

Organization Marketing

Question 24

refers to buyer–seller communications
in which the customer controls the amount and type of
information received from a marketer.

Answer 24

Interactive Marketing

Question 25

is the use of online social media as a communications
channel for marketing messages.

Answer 25

Social Marketing