Week 1 Mcgraw Hill Flashcards
Successful marketing is focus on
Customer needs and wants
For marketers which of the following are encompassed by the term product?
Ideas
Demands
Estimations
Services
Goods
Ideas
Services
Goods
The ________ refers to the idea that organizations should try to satisfy the needs of consumers while also trying to achieve organizational objectives
Marketing concept
Customer value proposition relates to
The benefits customers receive
The specific group of existing and potential consumers to which marketers direct their efforts is called the
Target market
In marketing the term ______ is used to describe potential customers who have both the willingness and ability to purchase a product
Market
The elements in the marketing mix include
Promotion
Analysis
Price
Customers
Price and promotion
Identify the steps in the marketing process
Identifying customer needs
Reaching potential consumers
Formulating investment guidelines
Facilitating business negotiations
Identifying customer needs
Reaching potential consumers
Prior to the 1930s, most businesses were in the ________ orientation and focused on manufacturing products that were often in short supply
Production
_____ is an approach where marketers create fun and memorable opportunities for consumers to directly interact with a brand
Experiential marketing
Skills necessary for success in marketing include:?
Ability to work with others
Analytical thinking
Advertising industry experience
Infallibility
Ability to work with others
Analytical thinking
Which of the following stages in business is most likely to focus on the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve an organizations goals?
The relationship marketing stage
The production orientation stage
The sales orientation stage
The marketing orientation stage
The marketing orientation stage
Which two of the following are recent marketing approaches?
Metics and analytics
Newspaper advertising
Sales orientation
Digital marketing
Metrics and analytics
Digital marketing
Which of the following statements regarding Canadian usage of digital technology are correct?
Social media is increasingly accessed on mobile devices
90% of Canadians have mobile phones
We watch more television than online videos
We have been slow to adopt technology
Social media is increasingly accessed on mobile devices
90% if Canadians have mobile phones
I’m trying to reach a young adult target with their new SUC, Ford worked with Snapchat to put users inside a true-to-life 3D model if the vehicle. This exemplifies the marketing use of?
Augmented reality
Using celebrities or social media users with a large number of followers to help brands connect with their audience members is called
Influencer marketing
In marketing the term ______ is used to describe potential customers who have both the willingness and ability to purchase a product
Market
______ is rooted in the idea that brands with similar customers but different distribution channels combine efforts to make both more successful.
Partnership marketing
Metrics refers to?
Numeric data used to track performance
Under the marketing concept firms try to satisfy?
Organizational goals
Consumers
Which one is not a recent marketing approach?
Experiential marketing
Metrics and analytics
Advertising on broadcast TV
Digital marketing
Advertising in broadcast tv
Which two of the following are necessary in order for consumers to be considered a potential market?
Ability to buy
Willingness to buy
Which of the following business philosophies is most likely to focus on manufacturing with no priority given to consumer needs?
Marketing orientation
Production orientation
Marketing concept
Relationship marketing
Production orientation
When raising the roof built a “street house” made of cardboard and placed it in an alleyway near a high traffic pedestrian area, they were using what?
Experiential marketing
The _______ refers to the idea that organizations should try to satisfy the needs of consumers while also trying to achieve organizational objectives.
Marketing concept
Successful marketing is focused on
Customer needs and wants
Goods, services and ideas all represent a(n) _______ from a marketers perspective
Product
The specific group of existing and potential consumers to which marketers direct their efforts is called the
Target market
What do marketers often refer to the are the 4 Ps as?
Marketing mix
What are the 4 ps in a marketing mix?
Price
Product
Promotion
Place
An organization that focuses its efforts in continuously collecting information about consumers is most likely in the _____ stage
Marketing orientation
In Canada the most important trend impacting how marketers do business is
The widespread use of digital technology
Typically the goals of an influencer marketing campaign can include
Sales discount
Cancels
Clicks
Purchases
Clicks
Purchases
The marketing process involves
Reaching potential consumers
Affinity marketing also known as ___ marketing, is based on the idea that brands with similar customers can combined expertise to help each other build brand awareness and revenues
Partnership
Which of the following received by targeted customers that will satisfy their needs?
Service element
Products design
Customer value proposition
Customer sales transaction
Customer value proposition
The relatively new technology that combines the real world with computer-generated information is called
Augmented reality
What is affinity marketing also known as
Partnership marketing
What is affinity/partnership marketing?
The idea that brands with similar customers can combines expertise to help each other build brand awareness and revenues
Numeric data that is collected and group to track performance is called
Metrics
What are the elements in a marketing mix
Price
Promotion
Product
Place
