Midterm 1 Questions And Answers.

Midterm 1 Questions And Answers. What is NOT required for marketing to occur - correct answer Unsatisfied needs that can only be satisfied by physical products, not services Effective marketing requires - correct answer intimate knowledge and understanding of consumers and the marketplace The Magic Widget Company trades ice cream scoops to the Cold Creamery Ice Cream Shop, which in turn trades boxes of ice cream back, as a result of the trade of things of value, each is better off after the trade; this is referred to as - correct answer Exchange The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large is referred to as __? - correct answer Marketing Which is not a necessary for marketing to occur - correct answer A physical location for an exchange to occur the four controllable marketing mix factors do not include (4p's) - correct answer Penetration Which of the following are marketed - correct answer Goods, Services, ideas, and experiences A product directs the marketing program for its anti-aging skin serum to older individuals using in-store product placement. Dove considers this group of potential customer to be its: - correct answer Target Market Forces that are largely beyond the control of the marketing department and its organization are called - correct answer environmental factors The unique combination of benefits received by targeted buyers that include quality, price, convenience, on-time delivery, and both before-sale and after-sale service is called: - correct answer customer value Which o the following statements about stakeholders is true? - correct answer Stakeholders have a stake in how well a company performs CIBC is focused on earning a profit for employees and shareholders, while also giving back to the community through their CIBC run for the cure campaign, this balance of conflicting goals is referred to as: - correct answer Social Responsibility Nokia has an exclusive relationship with Microsoft for their Windows operating system for their mobile phones, where no other mobile phone companies can use the Windows OS. This is an example of: - correct answer Competitive advantage