Exam 1: An Overview of Marketing

Which marketing management philosophy is often adopted by organizations that sell unsought products such as life insurance,retirement plans,and pre-planned funeral services?

Kellogg's gives consumers the chance to receive a free DVD.Consumers who buy five boxes of specially marked cereal can cut out the coupons and mail in their completed official form to get a free DVD.Kellogg's is engaging in:

Salespeople who work for market-oriented organizations are generally perceived by their customers as problem solvers and important links to supply sources and new products.

Consider the following statement: "Relationship marketing is not possible in a firm embracing a production orientation." Do you agree or disagree with this statement? Explain your answer.

A market-oriented organization targets its products at:

One way to identify the orientation of a firm is to examine its primary goal.If a firm seeks to achieve profitability through sales volume,it would probably be:

_____ gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management.

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

TUFF SHED,Inc.is one of the leading suppliers of installed storage buildings and garages in the United States.TUFF SHED mandates that sales,management and construction teams work together to anticipate and eliminate potential problems.They make sure customers get the right buildings for their needs,and they all are built well and in a timely manner.By using teamwork,TUFF SHED:

Marketers interested in offering customer value can:

Target shoppers can enroll in the Take Charge of Education program so that Target will donate one percent of purchases made with a consumer's REDcard,a Target credit card.The more money customers spend,the larger the donation to the consumer's school of choice.By instituting the Take Charge of Education program to help local schools,Target has shown a _____ orientation.

The owner of Maine Kitchen Art bowls,spoons,and cutting boards knows marketing can make his company a success.He wants to rely solely on promotion as the technique for attracting customers.He advertises extensively in cooking magazines and provides retailers who carry his product with attractive displays.From this information,you know that Maine Kitchen Art has a _____ orientation.

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

For an exchange to take place:

The Ritz Carlton has Service Values which guide employees in providing its Gold Standard service.One of the service values states "I own and immediately resolve guest problems." The Ritz Carlton management uses _____ to provide customer service.

Indonesian logging companies harvest the rain forests for timber and assume that a market exists for their products.The typical Indonesian logging company has a(n)_____ orientation.

One of the reasons given for the decline of Britannica is that the firm defined its business as publishing books instead of providing information.Britannica failed to:

What is customer value? What are the six ways marketers can make sure customers perceive their companies/products as sources of value?

Describe the concept of exchange,and list the five conditions that must be satisfied for exchange to occur.If all conditions are met,does that guarantee exchange will occur? Explain why or why not.

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.