MKT-315 Midterm Chapters 1 - 4.Complete Solutions Guide.

MKT-315 Midterm Chapters 1 - 4 Chapter 1 Marketing: 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 Marketing Concept: the business orientation model that involves creating value and satisfying consumer needs Marketing Mix: consists of four elements: product, place, price, and promotion, also called the 4 Ps Marketing Plan: a tool used to set up various elements of a company's marketing strategies and develops an accompanying tactical plan Marketing Strategy: describes what the business wants to achieve in its marketing efforts SWOT Analysis a tool an organization uses to analyze its strengths, weaknesses, opportunities, and threats What is the process that determines what is needed, how to collect it, analyze it, and use it for effective market planning? b. marketing information system Pete's Car Wash will donate 10% of Platinum Car Wash purchases to feed the homeless. This is an example of ______? C. Cause Marketing Ginger Jones was reading an interesting newspaper article that discussed the diverse culture of a foreign land. However, by the time she finished reading the article, she discovered that the content was actually an advertisement for a travel company. This is an example of ______. C. native advertising Which is the key strategic decision in formulating a marketing plan? D. all of the above What is the process called when the wholesalers and manufacturers segment their markets much the same way as retailers? C. B2B segmentation The process of developing and executing strategies and tactics to market and sell a product or service to a very specific target segment is: a. micromarketing Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly competitive marketplace? D. planning Which of the following is not an economic factor: b. Customer's data Marketing includes which of the following activities?