Which of the following must occur for marketing to happen?
e) There has been no assessment of consumers’ wants and needsAns: aFeedback: For marketing to occur there must be (1) two or more parties (organizations or individuals) with unsatisfied needs, (2) a desire and an ability to satisfy them, (3) a way for the parties to communicate and (4) something to exchange.
Which of the following is the best example of a large corporation using technology to realize the benefits of relationship marketing?
Manufacturers had the capacity to produce more than consumers were able to buy. Which of the following is the best example of a large corporation using technology to realize the benefits of relationship marketing? Apple allows customers to place an Internet order for a unique and personalized product.
Which of the following are core aspects of marketing?
Marketing Requires Product, Price, Place, and Promotion decision. Marketing can be performed by both Individual & organizations.
Which of the four P’s embodies all activities?
Place – Delivering value proposition. Promotion – Communicating value. _ is one of the elements of the four Ps that embodies all activities essential to get the product to the right customer when and where that customer wants it.
What four factors are needed for marketing to occur?
Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.
What conditions must exist before a marketing exchange can occur?
Four conditions must exist for an exchange to occur: (1) Two or more individuals, groups, or organizations must participate, and each must possess something of value that the other party desires; (2) the exchange should provide a benefit or satisfaction to both parties involved in the transaction; (3) each party must …
Is a customer’s subjective assessment of benefits?
We view value as a customer’s subjective assessment of benefits relative to costs in determining the worth of a product (customer value = customer benefits – customer costs).
What are the objectives of marketing?
Marketing objectives are goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. In other words, marketing objectives are the marketing strategy set in order to achieve the overall organizational objectives.
What is the major difference between social responsibility and marketing ethics?
What is the major difference between social responsibility and marketing ethics? Social responsibility deals with the total effect of marketing decisions on society, whereas marketing ethics relates to individual and group evaluations in marketing situations.
Which of the following describes the fundamental purpose of marketing?
Fundamental purpose of marketing is to create value by developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs. Price = everything a buyer gives up (money,time,energy) in exchange for the product.
What does channel mean in marketing?
A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. … Another less known form of the marketing channel is the Dual Distribution channel.
Which of the following is the definition of marketing quizlet?
Which of the following is the definition of 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.
What type of marketers constantly measure?
Value-oriented marketers constantly measure the benefits that customers perceive against the cost of their offering (3) Build relationships with customers Relational orientation – A method of building a relationship with customers based on the philosophy that buyers and sellers should develop a long-term relationship.
Why is a strong supply chain important?
Increases Profit Leverage – Firms value supply chain managers because they help control and reduce supply chain costs. This can result in dramatic increases in firm profits. … Increases Cash Flow – Firms value supply chain managers because they speed up product flows to customers.