Exam 1: Defining Marketing for the 21st Century

When online dot-coms,such as eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process,they were advocating ________.

The U.S.economy today consists of a 70-30 services-to-goods mix.

Companies that practice ________ are implementing a total market orientation and are likely to be the most successful.

The marketing concept stresses a customer-centered approach to marketing.

For each target market,the firm develops a ________.The offering is then positioned in the minds of the target buyers as delivering some central benefit(s).

Companies are recognizing that much of their market value comes from ________,particularly their brands,customer base,employees,distributor and supplier relations,and intellectual capital.

Discuss the concept of disintermediation and provide an example.

Internal marketing is an appropriate practice to be used in holistic marketing.

When Frank identifies a marketing opportunity to market his company's ski and snowboard helmets to baby boomers interested in winter sports through advertisements in enthusiast magazines,Frank is going through the _____.

A(n)________ need is a need that the consumer explicitly verbalizes.

The ________ is practiced most aggressively with unsought goods,goods that buyers normally do not think of buying,such as insurance,encyclopedias,and cemetery plots.

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

When consumers share a strong need that cannot be satisfied by an existing product,they are engaged in latent demand.

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

The ________ includes the actors involved in producing,distributing,and promoting the offering.The main actors are the company,suppliers,distributors,dealers,and the target customers.

________ reflects a customer's judgment of a product's performance in relation to his or her expectations.

Car rental firms,barbers,and management consultants provide ________.

________ marketing aims to build mutually satisfying long-term relations with key parties such as customers,suppliers,distributors,and other marketing partners.

When Volvo runs advertisements suggesting that it is the safest car money can buy,it is engaging in which of the following forms of marketing programming?

________ includes all the actual and potential rival offerings and substitutes that a buyer might consider.