| A | B |
|---|
| more | Marketing is so much ________ than selling and advertising |
| essential | Marketing plays an __________ role in creating customer satisfaction |
| social | Marketing is both a set of activities performed by organizations and a _________ process |
| micro | The ____________view of marketing sees it as the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client |
| exchange | Marketing does not occur unless there are two or more parties who want to _____________something for something else. |
| "economies of scale" | as a company produces larger numbers of a particular product, the cost for each unit of the product goes down |
| production | making goods or performing services is part of THIS process |
| customer satisfaction | the extent to which a firm fulfills a customer’s needs, desires, and expectation |
| guide | Marketing should_______production, accounting, and financial activities |
| macro marketing | is concerned with the flow of need-satisfying goods and services from producer to consume |
| Economies of scale | the discrepancy between the small quantity of a product that individual consumers need and the large quantity that firms produce exists because firms seek to benefit from THIS |
| transporting | function that involves moving goods from one place to another |
| risk -taking | When a firm manufactures a product and is uncertain about whether customers will want to buy its products, that firm is experiencing the ______ function of marketing. |
| storing | In the context of the universal functions of marketing, the _____ function of marketing involves holding goods until customers need them. |
| collaborators | Firms that facilitate or provide one or more of the marketing functions other than buying are known as |
| standardization and grading | function of marketing involves sorting products according to their size and quality, helping to reduce their need for inspection, and sampling |
| command | government officials make almost all production and distribution choices in THIS economy |
| shortages | Government planning in a command economy often resulted in THESE of goods and services. |
| market directed | In THIS type of economy, Macro-level decisions for the whole economy are based on the individual decisions of the economy's many producers and consumers |
| marketing company | In THIS era, a company might have a long-range plan—developed by marketing managers—to expand across regions to profitably meet the long-term needs of customers |
| market concept | The goal of THIS is to satisfy customers at a profit |
| market oriented | In THIS type of firm, every department’s activities are guided by what customers need and what the firm can deliver at a profit |
| triple bottom line | looking at the firm's economic, social, and environmental outcomes, to measure its long-term success |
| customer value | the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits. |
