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Exam 1: Marketing Fundamentals

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Question 21

Multiple Choice

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With any promotional campaign, measuring impact and effectiveness are critical to success.Digital marketing offers marketers detailed measures of impact through:

A) Sales reports
B) Metrics and analytics
C) Partnership marketing
D) Marketing audits

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Question 22

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_____ is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

A) Creative planning
B) Advertising
C) Selling
D) Marketing

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Question 23

Multiple Choice

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The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is _____.

Many large firms measure the effectiveness of purchase incentives through a measure called share of wallet.

Product design, pricing strategies, and service elements create _____.

Which of the following is an example of a service?

Happy Traveller Ltd.has designed a program that allots its customers reward points each time its members hire the company to book their holidays.It has also introduced discounted Christmas and New Year holiday vacation packages only for its members and long time customers.Happy Traveller Ltd.has also expressed its support for a cancer foundation, donating a substantial sum of money to the foundation.The cancer foundation has announced Happy Traveller Ltd.as one of its patrons.Happy Traveller's reward points program for its members is an example of _____.

After an assessment of needs, a marketing manager must:

Stagistics and v3 Technologies, two top vendors of supply chain management software, have recently launched their own online trading exchange aimed at increasing the ease with which their customers can distribute products and ideas.Both of these organizations provide exceptional, ongoing service to their business customers.These two organizations hope to benefit from _____.

What is exchange? Give an example of consumer exchange without money.

In most organizations, the Marketing function provides the connection to customers.

Myworld Ltd.is one of the organizations that voluntarily considers the well-being of society by taking responsibility for how their businesses impact society in general.By doing so, Myworld is engaging in _____.

The term market is best defined as:

Popular events like the Superbowl, Academy Awards and Olympics lend themselves to real-time marketing approaches.

Roxta Confectioners has launched two new products-Big Bear Candy for children and Dark Coffee Sticks for adults.Roxta has set up a different approach for each product.Big Bear Candy will be sold at $0.99 at all retail stores, close to the cash counters.Dark Coffee Sticks will be sold at $4.99, and instead of being merchandised at cash counters, it will be on the shelves of many grocery stores.Roxta has decided to advertise Big Bear Candy to children through television ads.It has also conducted events and games to "Meet Big Bear." For Dark Coffee Sticks, Roxta has tried to connect with adults through newspaper ads and social media.Roxta has been successful in realizing profits through its two products.Roxta has developed two products for two specific groups of potential customers.What are these groups called?

The Whirlpool Corporation creates home appliances to make life easier and more enjoyable for people.This statement concerns the _____ element of the marketing mix.

Roxta Confectioners has launched two new products-Big Bear Candy for children and Dark Coffee Sticks for adults.Roxta has set up a different approach for each product.Big Bear Candy will be sold at $0.99 at all retail stores, close to the cash counters.Dark Coffee Sticks will be sold at $4.99, and instead of being merchandised at cash counters, it will be on the shelves of many grocery stores.Roxta has decided to advertise Big Bear Candy to children through television ads.It has also conducted events and games to "Meet Big Bear." For Dark Coffee Sticks, Roxta has tried to connect with adults through newspaper ads and social media.Roxta has been successful in realizing profits through its two products.Which of the following elements of the marketing mix explains Roxta's activity to sell Big Bear Candy at the cash counters and Dark Coffee Sticks on the shelves?

A business traveller joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he accumulates enough points, he can trade them in for a free night's stay.As a member of this program, the traveller receives periodic updates on new hotels and learns of ways to earn additional points.This is an example of _____.

Exchange is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

Experiential marketing seeks to build opportunities for consumers to interact with a brand.