Question: A strategy developed by companies that specifies marketing activities for a specific period of time is known as a _______.
Answer: marketing plan
Question: Understanding the marketplace, and especially consumer needs and wants, is fundamental to marketing _____.
Answer: success
Question: If a car manufacturer wanted to segment its marketplace it would (select all applicable answers):
a: offer the same car model to all consumers in the marketplace.
b: identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans).
c: divide consumers into groups based on their incomes.
Answer: b and c
Question: The text outlines the role that each of the four Ps plays in adding value for customers and firms. Product, the first of the four Ps, is responsible for _____ value.
Answer: creating
Question: In the four Ps of marketing, price aims to _____ value for the market mix.
Answer: capture
Question: Which of the following are components of the price paid by the buyer? (Select all that apply.)
a: Cultural Imperialism
b: Money
c: Time
d: Ethical Climate
e: Energy
Answer: b, c, and e
Question: In the marketing mix, place is expected to _____ value for the customer. (Recall that each of the Ps acts differently and specifically.)
Answer: deliver
Question: Which of the four Ps represents all activities necessary to get an offering to the right customer when that customer wants it?
Answer: Place
Question: _____ is the component of the four Ps of marketing that is used by marketers to inform, persuade, and reminds potential buyers about a product or service to influence their opinions and produce a response.
Answer: Promotion
Question: _____ reflects the relationship of benefits to costs, or “what you get for what you give.”
Answer: Value