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Exam 1: Defining Marketing for the 21st Century

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Question 31

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Name a Canadian marketer and describe the ways in which they have embraced social-responsibility marketing.

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Today,marketers must carefully consider ...

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Question 32

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Companies as diverse as General Motors and McDonald's are embracing which new company capability to communicate with the public, customers, and employees?

A) Factory customization
B) Corporate blogging
C) Private intranets
D) Internet training products
E) Online and offline "buzz"

F) A) and B)
G) B) and E)

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Question 33

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Companies address needs by putting forth a value proposition, a set of benefits they offer to customers to satisfy their needs.

Increasingly, a key goal of marketing is to develop deep, enduring relationships with all people or organizations that could directly or indirectly affect the success of the firm's marketing activities. Relationship marketing has the aim of building mutually satisfying long-term relations with key parties in order to earn and retain their business. Discuss the merits of relationship marketing. Describe in detail a company who is in business today that models relationship marketing.

You have been given the assignment of justifying social-responsibility marketing to your board of directors. What arguments would you make in favour of such a proposal?

Rising promotion costs and shrinking profit margins are the result of

At the heart of any marketing program is the ________ the firm's tangible offering to the market.

Distinguish between the concepts of value and satisfaction, using an example from one of your own recent marketing exchanges.

Many brick-and-click competitors became stronger contenders in the marketplace than the pure-click firms because they had a larger pool of resources to work with and

The ultimate outcome of relationship marketing is the building of a unique company asset called a marketing network. What would be the parts of a marketing network for motorcycle company such as Harley-Davidson?

In response to threats from such companies as AOL, Amazon, Yahoo, eBay, E'TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This process became known as

In ________ consumers may share a strong need that cannot be satisfied by an existing product.

A marketspace is physical, as when you shop in a store.

An unstated need occurs when a consumer expects good service from a dealer.

When IKEA noticed that people wanted good furniture at a substantially lower price and created knockdown furniture, they demonstrated marketing savvy and turned a private or social need into a(n)

As economies advance, a growing proportion of their activities focuses on the production of ________.

Marketing management is

The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.

Today, there is an increasing focus on profitable transactions as the way to ensure customer lifetime value.

Because of surprises and disappointments that can occur as marketing plans are implemented, a company needs feedback and control to understand the efficiency and effectiveness of marketing activities.