WWU MKTG 380 Midterm 1 Updated
Questions And Answers With 100%
Correct Answers Graded A+
QUESTIONS AND ANSWERS
Four Types of Utility. ANSWER - form, time, place, ownership
Form. ANSWER - conversion of raw materials and components into finished goods and
services
Time. ANSWER - availability of goods and services when consumers want them
place. ANSWER - availability of goods and services at convenient locations
ownership. ANSWER - ability to transfer title to goods or services from marketer to buyer
utility. ANSWER - the want-satisfying power of a good or service
marketing. ANSWER - the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large
exchange process. ANSWER - activity in which two or more parties give something of
value to each other to satisfy perceived needs
production orientation. ANSWER - Business philosophy stressing efficiency in producing
a quality product, with the attitude toward marketing that "a good product will sell itself."
sales orientation. ANSWER - Belief that consumers will resist purchasing nonessential
goods and services, with the attitude toward marketing that only creative advertising and
personal selling can overcome consumers' resistance and persuade them to buy.
,seller's market. ANSWER - a market in which there are more buyers for fewer goods and
services
buyer's market. ANSWER - a market in which there are more goods and services than
people willing to buy
consumer orientation. ANSWER - Business philosophy incorporating the marketing
concept that emphasizes first determining unmet consumer needs and then designing a
system for satisfying them.
marketing concept. ANSWER - Companywide consumer orientation with the objective of
achieving long-run success.
relationship marketing. ANSWER - Development and maintenance of long-term, cost-
effective relationships with individual customers, suppliers, employees, and other partners
for mutual benefit.
5 eras in the history of marketing. ANSWER - production era
sales era
marketing era
relationship era
social era
production era. ANSWER - (pre-1920's) a good product will sell itself
sales era. ANSWER - (pre-1950's) creative advertising and selling will overcome
consumers' resistance and persuade them to buy
marketing era. ANSWER - (Since 1950's) "The consumer rules! Find a need and fill it."
relationship ear. ANSWER - (since 1980's) long-term relationship with customers and
other partners will lead to success
social era. ANSWER - Since 2000's "Connecting to consumers via the internet and social
media sites is an effective tool."
, marketing myopia. ANSWER - Management's failure to recognize the scope of its business
bottom line. ANSWER - reference to overall company profitability
person marketing. ANSWER - Marketing efforts designed to cultivate the attention,
interest, and preferences of a target market toward a person (perhaps a political candidate
or celebrity).
place marketing. ANSWER - marketing efforts to attract people and organizations to a
particular geographical area; improve consumer images of a city, state, or nation; and/or
attract new business
cause marketing. ANSWER - identification and marketing of a social issue, cause, or idea
to selected target markets
event marketing. ANSWER - Marketing of sporting, cultural, and charitable activities to
selected target markets
organization marketing. ANSWER - 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
nontraditional marketing. ANSWER - person, place, cause, event, organization
transaction-based marketing. ANSWER - Buyer and seller exchanges characterized by
limited communications and little or no ongoing relationships between the parties.
mobile marketing. ANSWER - Marketing messages transmitted via wireless technology
interactive marketing. ANSWER - Buyer-seller communications in which the customer
controls the amount and type of information received from a marketer through channels
such as the Internet and virtual reality kiosks.
social marketing. ANSWER - The use of online social media as a communications channel
for marketing messages
Questions And Answers With 100%
Correct Answers Graded A+
QUESTIONS AND ANSWERS
Four Types of Utility. ANSWER - form, time, place, ownership
Form. ANSWER - conversion of raw materials and components into finished goods and
services
Time. ANSWER - availability of goods and services when consumers want them
place. ANSWER - availability of goods and services at convenient locations
ownership. ANSWER - ability to transfer title to goods or services from marketer to buyer
utility. ANSWER - the want-satisfying power of a good or service
marketing. ANSWER - the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large
exchange process. ANSWER - activity in which two or more parties give something of
value to each other to satisfy perceived needs
production orientation. ANSWER - Business philosophy stressing efficiency in producing
a quality product, with the attitude toward marketing that "a good product will sell itself."
sales orientation. ANSWER - Belief that consumers will resist purchasing nonessential
goods and services, with the attitude toward marketing that only creative advertising and
personal selling can overcome consumers' resistance and persuade them to buy.
,seller's market. ANSWER - a market in which there are more buyers for fewer goods and
services
buyer's market. ANSWER - a market in which there are more goods and services than
people willing to buy
consumer orientation. ANSWER - Business philosophy incorporating the marketing
concept that emphasizes first determining unmet consumer needs and then designing a
system for satisfying them.
marketing concept. ANSWER - Companywide consumer orientation with the objective of
achieving long-run success.
relationship marketing. ANSWER - Development and maintenance of long-term, cost-
effective relationships with individual customers, suppliers, employees, and other partners
for mutual benefit.
5 eras in the history of marketing. ANSWER - production era
sales era
marketing era
relationship era
social era
production era. ANSWER - (pre-1920's) a good product will sell itself
sales era. ANSWER - (pre-1950's) creative advertising and selling will overcome
consumers' resistance and persuade them to buy
marketing era. ANSWER - (Since 1950's) "The consumer rules! Find a need and fill it."
relationship ear. ANSWER - (since 1980's) long-term relationship with customers and
other partners will lead to success
social era. ANSWER - Since 2000's "Connecting to consumers via the internet and social
media sites is an effective tool."
, marketing myopia. ANSWER - Management's failure to recognize the scope of its business
bottom line. ANSWER - reference to overall company profitability
person marketing. ANSWER - Marketing efforts designed to cultivate the attention,
interest, and preferences of a target market toward a person (perhaps a political candidate
or celebrity).
place marketing. ANSWER - marketing efforts to attract people and organizations to a
particular geographical area; improve consumer images of a city, state, or nation; and/or
attract new business
cause marketing. ANSWER - identification and marketing of a social issue, cause, or idea
to selected target markets
event marketing. ANSWER - Marketing of sporting, cultural, and charitable activities to
selected target markets
organization marketing. ANSWER - 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
nontraditional marketing. ANSWER - person, place, cause, event, organization
transaction-based marketing. ANSWER - Buyer and seller exchanges characterized by
limited communications and little or no ongoing relationships between the parties.
mobile marketing. ANSWER - Marketing messages transmitted via wireless technology
interactive marketing. ANSWER - Buyer-seller communications in which the customer
controls the amount and type of information received from a marketer through channels
such as the Internet and virtual reality kiosks.
social marketing. ANSWER - The use of online social media as a communications channel
for marketing messages
