Exam 1: Marketing: the Art and Science of Satisfying Customers

The functions of marketing can be grouped into three major categories: exchange functions, physical distribution functions, and financing functions.

Who often benefits from an alliance between a not-for-profit organization and a for-profit organization?

Match each definition to the corresponding term. a.utility b.buzz marketing c.exchange process d.seller's market e.buyer's market f.marketing myopia g.social responsibility h.relationship marketing i.person marketing j.place marketing k.event marketing l.organization marketing m.interactive marketing n.lifetime value of a customer o.social marketing p.one-to-one marketing q.strategic alliances r.not-for-profit organizations s.ethics t.mobile marketing u.wholesalers v.transaction-based marketing -An advertisement titled "The Ultimate Place for a Vacation" is an example of _____.

A strategic alliance is defined as a partnership between a for-profit business and a not-for-profit organization.

Match each definition to the corresponding term. a.utility b.buzz marketing c.exchange process d.seller's market e.buyer's market f.marketing myopia g.social responsibility h.relationship marketing i.person marketing j.place marketing k.event marketing l.organization marketing m.interactive marketing n.lifetime value of a customer o.social marketing p.one-to-one marketing q.strategic alliances r.not-for-profit organizations s.ethics t.mobile marketing u.wholesalers v.transaction-based marketing -The growth of wireless technology has given rise to a new marketing strategy called _____.

Washquik Corporation recalled 200,000 washing machines that were experiencing motor problems. Upon repair of a machine, service technicians were instructed to leave a box of BioClean, a new environmentally friendly detergent offered by a partner company, BioCare. The actions of Washquik show both an ethical and socially responsible approach to servicing customers.

Production-era marketing paid close attention to the different needs of the consumer.

Mars Inc.'s M&M's division donates 50 cents of specially marked candy sales to the Special Olympics. What is this an example of?

What type of behaviour does Walmart Canada exhibit by contributing to local scholarships and community programs?

In the past, firms have viewed their suppliers as adversaries against whom they must fiercely negotiate prices, playing one off against the other.

Which of the following is NOT a reason for a growing global marketplace?

An important difference between not-for-profit organizations and for-profit organizations is that not-for-profit organizations cannot market tangible goods.

Match each definition to the corresponding term. a.utility b.buzz marketing c.exchange process d.seller's market e.buyer's market f.marketing myopia g.social responsibility h.relationship marketing i.person marketing j.place marketing k.event marketing l.organization marketing m.interactive marketing n.lifetime value of a customer o.social marketing p.one-to-one marketing q.strategic alliances r.not-for-profit organizations s.ethics t.mobile marketing u.wholesalers v.transaction-based marketing -is a customized marketing program designed to build long-term relationships with individual customers.

Give a brief description of strategic alliances and business partnerships.

Not-for profit organizations can be found only in the private sectors of an economy.

Production and marketing of goods and services are two basic functions that create utility.

What function is Future Shop performing when it sells a person a new television or DVD player?

A service user of a not-for-profit organization has more control over the organization's destiny than customers of a profit-seeking firm.

Which function of marketing helps determine what potential consumers want and need, and how to offer goods and services to satisfy them?

An alumni association at a university sends out announcements promoting the upcoming football game and an alumni association function. What two types of marketing is this example a combination of?