Exam 1: Defining Marketing for the 21st Century

Define internal marketing and its role in the company.Outline how various departments within the company outside marketing can demonstrate a customer focus.

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)________.

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

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 a motorcycle company such as Harley-Davidson?

Global marketers must decide ________.

Marketing has been described 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.

Companies selling goods and services in the global marketplace have the advantage of being able to sell the goods and services in almost the same way as they do in their domestic market.

In ________,more customers would like to buy the product than can be satisfied.

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.

Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries.

A distribution channel includes distributors,wholesalers,retailers,and agents that display,sell,or deliver the physical product or service(s)to the buyer or user.

Automobile manufactures,new car and used car dealers,financing companies,and insurance companies are all part of the automobile ________.

The proliferation of targeted media and communication channels has allowed marketers to become much more aware of their target consumers' preferences and to customize both products and messages for individual consumers.

The feasibility of companies dealing with customers one at a time has risen as a result of advances in ________,computers,the Internet,and database marketing software.

The main actors in the task environment are the components of demographics,economics,physical setting,technology,the political-legal system,and the social-cultural arena.

Demands are wants for specific products backed by an ability to pay.

According to Theodore Levitt,who drew contrasts between the selling and marketing concepts,________ is preoccupied with the need to convert products into cash.

Kroger supermarkets are aggressively pursuing a strategy of capturing a larger share of the customer's "stomach." Which of the following shifts in marketing management is most appropriate for this example?

Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.

The strength of the ________ depends on the mutually profitable business relationships built by the company and its supporting stakeholders.