The Role of Marketing - correct answers focusing on customer needs/wants, creating customer
value, create and amplify needs
Target Market - correct answers A group of people for which a company designs, implements,
and maintains a marketing mix intended to meet the needs of that group, resulting in mutually
satisfying exchanges
Marketing Mix - correct answers Product, Price, Place, Promotion
product - correct answers All the attributes that make up a good, a service, or an idea, to satisfy
the customer need, including product design, features, colour, packaging, warranty, and service
levels
price - correct answers What is exchanged for a product, including the expected regular retail or
sale price.
place - correct answers The way in which your product gets to the consumer, including the
distribution channels, retail formats, and merchandising used to sell a product.
promotion - correct answers The tools needed to communicate with consumers about a
product, including advertising, public relations, sales promotion, direct response, event
marketing, sponsorship, online approaches, and personal selling.
The Marketing Process - correct answers Identifying consumer needs, managing the marketing
mix and realizing profits
What can be marketed - correct answers goods, services, ideas
goods - correct answers a product that is tangible—you can touch it and own it. example: pillow
,service - correct answers is an intangible product you cannot touch. example: massage
idea - correct answers is a concept that typically looks for support. example: MADD ( mothers
against drunk driving)
market - correct answers potential consumers who have both the willingness and the ability to
buy a product.
production oreintation - correct answers Until the 1930s, stage focused on manufacturing
Sales Orientation - correct answers 1930s to the 1960s, focused on selling as many products as
possible, production more efficient
Marketing Orientation - correct answers 1960s, stage focuses on the idea that an organization
should strive to satisfy the needs of consumers while also trying to achieve an organization's
goals.
relationship marketing - correct answers stage sees organizations considering the lifetime value
of their customers and striving to offer better services, along with higher-quality products to
encourage long-term relationships with customers.
Customer Relationship Management (CRM) - correct answers This approach is rooted in the
knowledge that it is less expensive to service and maintain current customers than to constantly
acquire new ones
share of wallet - correct answers refers to the percentage of a customer's purchases that a
company has in a specific product category. example: tracked by optimum card at shoppers
, customer lifetime value - correct answers potential sales that will be generated by a customer if
that customer remains loyal to that company for a lifetime. example: tracked by loyalty cards
Corporate Social Responsibility (CSR) - correct answers organizations voluntarily consider the
well-being of society and the environment by taking responsibility for how their businesses
impact consumers, customers, suppliers, employees, shareholders, communities, the
environment, and society in general. helps to build long-term relationships and solidify brand
connections with consumers.
Greenwashing - correct answers A practice in which companies promote their products as
environmentally friendly when in truth the brand provides little ecological benefit.
societal marketing concept - correct answers marketing initiatives that focus on the consumer
and the well-being of society. example: the body shop
Digital Marketing - correct answers an approach that uses electronic means to reach consumers,
whether this be through computers, gaming devices, out-of-home electronic screens, or mobile
devices such as smartphones and tablets.
content marketing - correct answers brands or companies reach out by creating and sharing
expertise and/or brand information that is designed to inform and engage. example: podscasts,
events, blogs
mobile marketing - correct answers occurs when organizations communicate and engage with
their audience with any mobile device or network. example: The Weather App
proximity marketing - correct answers consumers to opt in to receive marketing information in a
restricted geo-location, such as a shopping mall, local business district, or event.
Social Media Marketing - correct answers brands reach out to consumers online through social
media networks.
value, create and amplify needs
Target Market - correct answers A group of people for which a company designs, implements,
and maintains a marketing mix intended to meet the needs of that group, resulting in mutually
satisfying exchanges
Marketing Mix - correct answers Product, Price, Place, Promotion
product - correct answers All the attributes that make up a good, a service, or an idea, to satisfy
the customer need, including product design, features, colour, packaging, warranty, and service
levels
price - correct answers What is exchanged for a product, including the expected regular retail or
sale price.
place - correct answers The way in which your product gets to the consumer, including the
distribution channels, retail formats, and merchandising used to sell a product.
promotion - correct answers The tools needed to communicate with consumers about a
product, including advertising, public relations, sales promotion, direct response, event
marketing, sponsorship, online approaches, and personal selling.
The Marketing Process - correct answers Identifying consumer needs, managing the marketing
mix and realizing profits
What can be marketed - correct answers goods, services, ideas
goods - correct answers a product that is tangible—you can touch it and own it. example: pillow
,service - correct answers is an intangible product you cannot touch. example: massage
idea - correct answers is a concept that typically looks for support. example: MADD ( mothers
against drunk driving)
market - correct answers potential consumers who have both the willingness and the ability to
buy a product.
production oreintation - correct answers Until the 1930s, stage focused on manufacturing
Sales Orientation - correct answers 1930s to the 1960s, focused on selling as many products as
possible, production more efficient
Marketing Orientation - correct answers 1960s, stage focuses on the idea that an organization
should strive to satisfy the needs of consumers while also trying to achieve an organization's
goals.
relationship marketing - correct answers stage sees organizations considering the lifetime value
of their customers and striving to offer better services, along with higher-quality products to
encourage long-term relationships with customers.
Customer Relationship Management (CRM) - correct answers This approach is rooted in the
knowledge that it is less expensive to service and maintain current customers than to constantly
acquire new ones
share of wallet - correct answers refers to the percentage of a customer's purchases that a
company has in a specific product category. example: tracked by optimum card at shoppers
, customer lifetime value - correct answers potential sales that will be generated by a customer if
that customer remains loyal to that company for a lifetime. example: tracked by loyalty cards
Corporate Social Responsibility (CSR) - correct answers organizations voluntarily consider the
well-being of society and the environment by taking responsibility for how their businesses
impact consumers, customers, suppliers, employees, shareholders, communities, the
environment, and society in general. helps to build long-term relationships and solidify brand
connections with consumers.
Greenwashing - correct answers A practice in which companies promote their products as
environmentally friendly when in truth the brand provides little ecological benefit.
societal marketing concept - correct answers marketing initiatives that focus on the consumer
and the well-being of society. example: the body shop
Digital Marketing - correct answers an approach that uses electronic means to reach consumers,
whether this be through computers, gaming devices, out-of-home electronic screens, or mobile
devices such as smartphones and tablets.
content marketing - correct answers brands or companies reach out by creating and sharing
expertise and/or brand information that is designed to inform and engage. example: podscasts,
events, blogs
mobile marketing - correct answers occurs when organizations communicate and engage with
their audience with any mobile device or network. example: The Weather App
proximity marketing - correct answers consumers to opt in to receive marketing information in a
restricted geo-location, such as a shopping mall, local business district, or event.
Social Media Marketing - correct answers brands reach out to consumers online through social
media networks.
