Exam 1: Defining Marketing for the 21st Century

Companies selling their goods to nonprofit organizations may charge an extra premium over their normal prices because these organizations are largely indifferent to price.

Companies that practice both a reactive and proactive marketing orientation are implementing a ________ and are likely to be the most successful.

Marketing people are involved in marketing 10 types of entities.List and briefly characterize those entities.

If a marketer decides to use warehouses,transportation companies,banks,and insurance companies to facilitate transactions with potential buyers,the marketer is using what is called a ________.

A number of companies-including the Body Shop,Ben & Jerry's,and Patagonia-have achieved notable sales and profit gains by adopting and practicing a form of the societal marketing concept called ________,by which a company with an image,product,or service to market builds a relationship or partnership with a cause,or a number of causes,for mutual benefit.

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

Rising promotion costs and shrinking profit margins are the result of ________.

According to Starbucks Chairman Howard Schultz,"Consumers now commonly engage in a cultural audit of [product and service] providers.People want to know your value and ethics demonstrated by how you treat employees,the community in which you operate." Discuss the concept of social responsibility marketing and how it impacts both companies and consumers.

Illustrate the differences between a reactive market orientation and a proactive marketing orientation.Give an example of a company that uses a proactive marketing orientation

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.

The competing concepts under which organizations have conducted marketing activities include: the production concept,product concept,selling concept,marketing concept,and holistic marketing concept.Evaluate the advantages and disadvantages of each concept as defined and presented in your textbook.Which concept do you believe is the most effective? Why?

In a modern exchange economy,all of the following markets are likely to exist EXCEPT ________.

You have been given the assignment of justifying cause-related marketing to your board of directors.What would be your primary argument in favor of such a proposal?

Linda Evans has been given the task of developing the product portion of her company's marketing mix.List the components that will likely be included in this element of the marketing mix.

The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.

In response to giant retailers and category killers,entrepreneurial retailers are building entertainment into stores with coffee bars,lectures,demonstrations,and performances.They are marketing a(n)________ rather than a product assortment.

Consumers often have many needs that are not readily obvious.Just observing their behavior inside a retail store is not enough to get a true feel for their "needs." List and briefly describe the five types of needs that most consumers have.

Most marketers satisfy everyone in a market-that's how they stay in business.

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

Holistic marketing incorporates ________,an understanding of broader concerns in the ethical,environmental,legal,and social context of marketing activities.