Exam 1: Overview of Marketing

Effective promotion enhances a product or service's

Effectively managing supply chain relationships has a minimal effect on profitability.

Eleanor works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss's actions are indicative of the ________ era of marketing.

Without a strong and efficient marketing channel system, merchandise isn't available when customers want it.

The idea that a good product will sell itself is associated with the ________ era of marketing.

After the previous sales representative in his territory infuriated an important customer, Troy visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Troy an order. Troy was providing the important marketing function of

When a manufacturer sells truck and car parts to Toyota, this is an example of B2C marketing.

During the ________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

The power adapters that Dell sells with its computers are built by small companies that specialize in power-related accessories. When Dell purchases its power adapters from these small companies, it is engaging in B2B marketing.

You are employed by a marketing firm that needs to become more value driven. How is this accomplished?

Approximately 50 percent of marketers use social media tools for their businesses.

Jonni has just started with a travel agency and has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Andrew, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Andrew's approach is based on

During the ________ era, firms had excess production capacity and used personal selling and advertising to generate customers.

Understanding the marketplace and especially a consumer's needs and wants, is fundamental to marketing success.

In his role as a product developer at Comfy Shoes, Henry should determine the price of his products carefully based on the potential buyer's interest in his products and

The process of value ________, in which customers collaborate in product design, often provides additional value to the firm's customers.

Sturdy Construction has been a successful, small, home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Sturdy rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Sturdy Construction is engaged in

During which era of marketing's evolution did customers find themselves with more buying options and therefore able to make purchasing decisions?

If you were hired as a supply chain manager, whom would you interact with?

The era in which manufacturers were not concerned with satisfying the needs of individual consumers was the ________ era of marketing.