Exam 1: Defining Marketing for the New Realities

Financial accountability and social responsibility marketing are elements of ________.

Marketers should be skilled in stimulating demand for a company's products.Just as production and logistics professionals are responsible for supply management,marketers are responsible for demand management.Marketing managers seek to influence the level,timing,and composition of demand to meet the organization's objectives.List and briefly characterize the eight different demand states.

Attracting a new customer costs far more than retaining an existing one.

Consider the real estate industry.The ________ for this industry includes construction companies,financing institutions,paint manufacturers,interior decorators,furniture manufacturers,and plumbing industries.

Tracy's is a chain of hair dressing salons for women.They use the television,magazines,radio,and newspapers to advertise their services.The owners ensure that all communication channels deliver a common message to prospective customers.Tracy's believes in ________.

The selling concept holds that consumers will favor those products that offer the most quality,performance,or innovative features.

________ marketing aims to build mutually satisfying long-term collaboration with key constituents,such as customers,employees,suppliers,distributors,and other marketing partners,in order to earn and retain their business.

Identify and define the traditional four Ps.Also identify the new four Ps and the reason for developing the new interpretation.

In an attempt to create greater competition and growth opportunities,countries often ________.

Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles,especially senior management?

Managers of ________ businesses concentrate on achieving high manufacturing efficiency,low costs,and mass distribution.

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

During market segmentation analysis,the marketer identifies which segments present the greatest opportunity.These segments are called ________.

Making gifts of money,goods,or time to help nonprofit organizations,groups,or individuals is known as corporate philanthropy.

Companies selling their goods to non-profit organizations often charge a premium over their normal prices because these organizations are largely indifferent to price.

Carmaker,Kia,knows that to reach its target markets three kinds of marketing channels may be used.What are these three marketing channels and how might Kia use each of them?

The customer value triad consists of a combination of quality,durability,and price.

The societal marketing concept 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.

Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts.Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty.

The marketing concept stresses on finding the right customers for the company's products.