D077 - Concepts in Marketing, Sales, and Customer Contact: KQ01 Study Guide

D077 - Concepts in Marketing, Sales, and Customer

Contact: KQ01 Study Guide

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70 terms cpis What is the main function of marketing?Bringing value to customers Improving partner relationships Decreasing expenditures Increasing productivity Bringing value to customers Which set of connections is created by marketers to generate value?Between companies and suppliers Between companies and media Between customers and suppliers Between customers and products Between customers and products

What is the relationship between sales and marketing in a firm's business strategy?Sales includes the exchange of money of a company's product or service, while marketing is the process of communicating the value of a product or service.Sales includes the process of communicating the value of a product or service, while marketing involves calculating how much profit has been earned for a company within a fiscal year.Sales includes calculating how much profit has been earned for a company within a fiscal year, while marketing is the process of communicating the value of a product or service.Sales includes the process of communicating the value of a product or service, while marketing focuses on the actual exchange of money for a product or service.Sales includes the exchange of money of a company's product or service, while marketing is the process of communicating the value of a product or service.What is an example of a marketing activity?A sales associate liquidating inventory An engineer conducting quality control review An executive reporting on stock performance A manager conducting research on potential customers A manager conducting research on potential customers Which element of the marketing mix is associated with social media advertising?Place Product Promotion Price Promotion In the marketing mix, what is the meaning of the term "product"?Marketing materials of the company Goods or services that meet customers' needs Materials used in manufacturing Shorthand for production line Goods or services that meet customers' needs

Which term is used when the price of a new product is lower than the competition with the goal of gaining market share?Price skimming Competitive Price penetration Prestige Price penetration In the marketing mix, what is meant by the term promotion?Getting the product from the producer to the customer Communications between the company and the customer Cost of a product, or what a company asks in exchange for a product Goods, services, or ideas that a company offers to the market Communications between the company and the customer What is meant by the term "place" in the marketing mix?Where product ads are posted Where products are purchased Where products are manufactured Where products are shipped from Where products are purchased Which three components are part of the marketing mix?Professionalism Promotion Power People Place Product Promotion, Place, Product A small tobacco shop that just opened wants to run advertising on a local radio station. When they approach the radio station's sales department, they find that the station will not run their ad.What type of uncontrollable element prevents the running of this advertisement?Environmental Legal Cultural Social Legal

A manufacturer of children's toys discovers that a number of products that it makes and sells have been duplicated and are selling alongside their products on various e- commerce sites. The duplicate products appear to be made overseas and are selling for 30% lower. The company's sales department feels pressure to lower pricing to match that of the duplicate products in an effort not to lose sales.Which element in the marketing environment is demonstrated in this situation?Governmental regulations Competitive elements Technological advances Social factors Competitive Elements A restaurant owner has noticed a shift in the restaurant's customer attitudes towards locally-sourced and sustainable ingredients and is changing the menu in an effort to cater to these customers.What element of the marketing environment does this represent?Socio-cultural factors Regulation Consumer confidence Economic factors Socio-cultural factors A large general contractor is having trouble meeting its labor needs, given the low unemployment in the area.The company begins advertising for construction workers in an adjacent state, offering a generous sign-on bonus in an effort to fill open positions.What element of the marketing environment is the company addressing?Competitors Regulations Social Economic Economic