Mkt 300 - Exam 1 - Uky Hapke

A firm will know it has achieved product excellence when its customers recognize that its products have high quality and add value. have a strong Internet presence. inspire customer loyalty. are always available and accessible. utilize minimal resources. {Ans: have high quality and add value.}A new smoothie cart has set up shop near the campus of the local community college. The area comprises a diverse population: college students, faculty, commuters rushing to the train or bus station, and local businesspeople. For a marketer, each of these groups represents a potential target market. True or False {Ans: True}Which of the following strategies is the primary way that firms capture value from customers? promotion personal selling product price place {Ans: price}Which of the four Ps of the marketing mix is typically the easiest to change and therefore makes it a powerful tool for firms that are looking to quickly adjust their market share or revenues? product price place packaging promotion {Ans: price}Consumer learning typically begins with knowing that a particular product exists. a response which attempts to satisfy a need or want. reinforcement that a particular product satisfies a need or want. cues that discourage the use of