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

Define relationship marketing and explain its characteristics.

Place marketing is important for cities such as Niagara Falls, Vancouver, Halifax, and St. John's because it is a useful technique to attract visitors.

A focus on maintaining and satisfying existing customers and suppliers is consistent with the relationship era.

Which statement best exemplifies a comparison between not-for-profit organizations to for-profit organizations?

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

Not-for-profit organizations are generally less concerned with the bottom line than for-profit organizations.

The public sector in Canada has a more diverse array of not-for-profit organizations than does the private sector.

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available for use on smartphones. What is this an example of?

Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which strategy would be an appropriate way to achieve this?

Liquid Resources, a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol. The decision to take the company in a new direction is most likely based on ethics.

A university sells customized sweat shirts, pull overs, and jerseys to its students and staff. What type of marketing is this an example of?

What characterizes a buyer's market?

Schwann's Foods sells its products through both grocery stores and door-to-door sales. Selling, order taking, delivery, and limited customer service are all conducted by the drivers. What two marketing functions overlap as a result of the drivers' required responsibilities?

Marketing of a product begins as soon as the product is introduced to the marketplace.

What does the term "bottom line" refer to?

A music star promotes her concerts, but also uses her concerts to promote a charitable cause. What two types of marketing is this example a combination of?

A sellers' market is one in which there are more goods and services than people willing to buy them.

A theatre group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.

What best explains the emergence of the marketing concept?

If WestJet describes itself as a transportation company rather than an airline, it is suffering from marketing myopia.