IBM EXAM 1 QUESTIONS & ANSWERS 2024/2025
A marketer is wondering if environmentally-friendly packaging should be used for the firm's marketing product since it cost more to do so. The ethical question relates to which element of the marketing mix? - ANSWERS-product
When a person feels depr...
A marketer is wondering if environmentally-friendly packaging should be used for the firm's marketing
product since it cost more to do so. The ethical question relates to which element of the marketing mix?
- ANSWERS-product
When a person feels deprived of basic necessities such as food, clothing, shelter, transportation, and
safety, it can be said that the person has an unmet_____________. - ANSWERS-need
What four elements make up the marketing mix? - ANSWERS-product
-price
-place
-promotion
How has marketing evolved throughout history? what are the stages? [in order] - ANSWERS-(1)
production orientation
-(2) sales orientation
-(3) marketing concept
-(4) relationship marketing
Charities, churches, and some hospitals are all examples of ________________ organizations. -
ANSWERS-nonprofit
The moral standards expected by a society are referred to as ____________. - ANSWERS-ethics
Wants are the form that human needs take. What three things does your text say shapes a person's
wants? - ANSWERS-(1) personality
-(2) buying situation
, -(3) culture
Which question relates to the place element of the marketing mix? - ANSWERS-How much inventory
should I keep? (because place includes the activities a firm undertakes to make its products available to
potential customers. It includes decisions on supplier, delivery, and inventory)
Firms with a _______________ orientation believed that products would simply sell themselves. -
ANSWERS-product
As a step in the ethical decision making process, considering how the decision will affect the
stakeholders is sometimes referred to as _____________. - ANSWERS-seeing through a problem to the
other side
The ______________ mix represents everything a firm can do to influence demand for its good, service,
or idea. - ANSWERS-marketing
The marketing concept began to emerge in the___________. - ANSWERS-1950s
Customer ______________ refers to the perceived benefits, both monetary and non monetary, that
customers receive from a product compared to the cost associated with obtaining the product. -
ANSWERS-value
What are trends affecting modern marketing? - ANSWERS-the increased use of social media
-an increase in global competition
-consumer emphasis on social responsibility
-consumer emphasis on ethical practices
Customers have been complaining to the management at Sam's Sports Bar that it only serves domestic
beer. So the establishment has decided to introduce a new line of craft beers to its menu. By providing
customers with benefits that meet their needs. Sam's Sports Bar is providing ____________. - ANSWERS-
customer value
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