MAR4480 EXAM 1 QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
rather than businesses having the ability to manipulate customers via
technology, customers often manipulate businesses because of their access to
___________, the ability to ____________ __________, and control they have over
____________
information, comparison shop, spending
individual consumers and business customers can compare ___________ and
__________ specifications in a matter of minutes
price, product
consumers are able to set their own airline __________ on priceline.com
prices
customers can now interact with one another, as merchants such as Amazon and
Ebay allow customers to share opinions on__________ _________ and ________
__________
product quality, supplier reliability
perhaps the single most important change during the last two decades is the shift
in power from _________ to _____________
marketers, consumers
travel and real estate agents have been hit hard by e-commerce. For real estate,
buyers are now house hunting online. Many marketers learned a tough lesson: In
,situations where customers see good sand services as _________, they will turn
to the most __________, ________ __________ alternative
commodities, convenient, least expensive
despite the challenge of reaching mass audiences today, _______ ________ does
not have a big advantage. It's easier to reach small, highly targeted audiences
who are more receptive to specific marketing messages
media fragmentation
marketing is the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to create exchanges
that satisfy individual and organizational objectives
2005 AMA definition of marketing
cluster of closely related good sand services that center around a specific
consumption activity
metamarket
provide a single access point where buyers can locate and contact many different
sellers in the meta market
metamediary
1. must be at least 2 parties
2. each party must have something of value to the other party
3. each party must be capable of communication and delivery
4. each party must be free to accept or reject the exchange
5. each party decides if it is desirable to exchange with the other party
5 conditions of an exchange
,the ability of a product to satisfy a customer's desires
utility
use of high quality raw materials, ingredients, or components, or highly efficient
production processes
example: luxury cars
form utility
products that are available when customers want them, now rather than later
example: grocery stores, restaurants, and other retailers that are open 24/7
time utility
available where customers want them, wherever the customer is at the moment is
the most desirable
example: home delivery of products, convenience stores, vending machines, and
e-commerce
place utility
products that are high in both ________ and __________ utility are exceptionally
valuable to customers because they provide the utmost convenience
time, place
deals with the transfer of ownership or title from marketer to customer; products
higher in this are easier to acquire
example: furniture store that offer easy credit terms and home delivery
possession utility
marketers foten combine __________ ___________ with ___________ __________
to increase possession utility
, supplemental services, tangible goods
products in high ______ __________ deliver positive experiential or psychological
attributes that customers find satisfying
example: sporting events or going to the Bahamas
psychological utility
at the _______ levels of the organization, planners concern themselves with
macro issues such as he mission, management of the mix of SBUs, resource
acquisition and assignments, and corporate policy decisions
top
planers of the organization at the ______ level, typically a division or SBE,
concerns themselves with similar issues to those at the top, but focus on those
that pertain to their particular product/market
middle
strategic planning at the ________ levels of the organization is much more
tactical in nature; here, planners concern themselves with the development of
marketing plans-more specific game plans for connecting products and markets
in ways that satisfy both organizational and customer objectives
lower
addresses specific markets or market segments and the development of
marketing programs that will fulfill the needs of customers in those markets
tactical planning
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
rather than businesses having the ability to manipulate customers via
technology, customers often manipulate businesses because of their access to
___________, the ability to ____________ __________, and control they have over
____________
information, comparison shop, spending
individual consumers and business customers can compare ___________ and
__________ specifications in a matter of minutes
price, product
consumers are able to set their own airline __________ on priceline.com
prices
customers can now interact with one another, as merchants such as Amazon and
Ebay allow customers to share opinions on__________ _________ and ________
__________
product quality, supplier reliability
perhaps the single most important change during the last two decades is the shift
in power from _________ to _____________
marketers, consumers
travel and real estate agents have been hit hard by e-commerce. For real estate,
buyers are now house hunting online. Many marketers learned a tough lesson: In
,situations where customers see good sand services as _________, they will turn
to the most __________, ________ __________ alternative
commodities, convenient, least expensive
despite the challenge of reaching mass audiences today, _______ ________ does
not have a big advantage. It's easier to reach small, highly targeted audiences
who are more receptive to specific marketing messages
media fragmentation
marketing is the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to create exchanges
that satisfy individual and organizational objectives
2005 AMA definition of marketing
cluster of closely related good sand services that center around a specific
consumption activity
metamarket
provide a single access point where buyers can locate and contact many different
sellers in the meta market
metamediary
1. must be at least 2 parties
2. each party must have something of value to the other party
3. each party must be capable of communication and delivery
4. each party must be free to accept or reject the exchange
5. each party decides if it is desirable to exchange with the other party
5 conditions of an exchange
,the ability of a product to satisfy a customer's desires
utility
use of high quality raw materials, ingredients, or components, or highly efficient
production processes
example: luxury cars
form utility
products that are available when customers want them, now rather than later
example: grocery stores, restaurants, and other retailers that are open 24/7
time utility
available where customers want them, wherever the customer is at the moment is
the most desirable
example: home delivery of products, convenience stores, vending machines, and
e-commerce
place utility
products that are high in both ________ and __________ utility are exceptionally
valuable to customers because they provide the utmost convenience
time, place
deals with the transfer of ownership or title from marketer to customer; products
higher in this are easier to acquire
example: furniture store that offer easy credit terms and home delivery
possession utility
marketers foten combine __________ ___________ with ___________ __________
to increase possession utility
, supplemental services, tangible goods
products in high ______ __________ deliver positive experiential or psychological
attributes that customers find satisfying
example: sporting events or going to the Bahamas
psychological utility
at the _______ levels of the organization, planners concern themselves with
macro issues such as he mission, management of the mix of SBUs, resource
acquisition and assignments, and corporate policy decisions
top
planers of the organization at the ______ level, typically a division or SBE,
concerns themselves with similar issues to those at the top, but focus on those
that pertain to their particular product/market
middle
strategic planning at the ________ levels of the organization is much more
tactical in nature; here, planners concern themselves with the development of
marketing plans-more specific game plans for connecting products and markets
in ways that satisfy both organizational and customer objectives
lower
addresses specific markets or market segments and the development of
marketing programs that will fulfill the needs of customers in those markets
tactical planning
