Exam 1: Defining Marketing for the 21st Century

________ marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business.

McDonald's has decided to engage in cause-related marketing. An appropriate action would be to sponsor an endangered species at a national or city zoo.

The main actors in the task environment are the components of demographics, economics, physical setting, technology, the political-legal system, and the social-cultural arena.

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

The ________ concept holds that consumers will favour those products that offer the most quality, performance, or innovative features.

Internal marketing is an appropriate practice to be used in holistic marketing.

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called

As consumers grow more socially conscious, a number of companies are using ________ as a way to differentiate themselves from competitors, build consumer preference, and achieve notable sales and profit gains.

Marketers often use the term ________ to cover various groupings of customers.

How is marketing done? Explain why, increasingly, marketing is not done only by the marketing department.

________ actively work to build a strong, favourable, and unique image in the minds of their target publics.

The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.

When online dotcoms, such as TD Waterhouse and Chapters.ca cut out the majority of middlemen that normally would participate in the exchange process, they were advocating

Carnival Connections, an online marketing site created by the cruise marketer so that cruise fans could compare notes, is an example of which dimension of holistic marketing?

________ includes all the actual and potential rival offerings and substitutes that a buyer might consider.

Relationship marketing has the aim of building mutually satisfying long-term relationships with key parties.

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?

For each target market, the firm develops a ________. The offering is positioned in the minds of the target buyers as delivering some central benefit(s).

New terms are now being used to describe where marketing is done. Using the automobile market, describe automotive buying behaviour for a: (1) marketplace, (2) marketspace, and (3) metamarket.

The marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies.