Exam 1: Defining Marketing for the 21st Century

Marketing management is

An unstated need occurs when a consumer expects good service from a dealer.

Companies as diverse as General Motors and McDonald's are embracing which new company capability to communicate with the public, customers, and employees?

Today, there is an increasing focus on profitable transactions as the way to ensure customer lifetime value.

Companies address needs by putting forth a value proposition, a set of benefits they offer to customers to satisfy their needs.

Increasingly, a key goal of marketing is to develop deep, enduring relationships with all people or organizations that could directly or indirectly affect the success of the firm's marketing activities. Relationship marketing has the aim of building mutually satisfying long-term relations with key parties in order to earn and retain their business. Discuss the merits of relationship marketing. Describe in detail a company who is in business today that models relationship marketing.

Many brick-and-click competitors became stronger contenders in the marketplace than the pure-click firms because they had a larger pool of resources to work with and

At the heart of any marketing program is the ________ the firm's tangible offering to the market.

You have been given the assignment of justifying social-responsibility marketing to your board of directors. What arguments would you make in favour of such a proposal?

In ________ consumers may share a strong need that cannot be satisfied by an existing product.

The ultimate outcome of relationship marketing is the building of a unique company asset called a marketing network. What would be the parts of a marketing network for motorcycle company such as Harley-Davidson?

Name a Canadian marketer and describe the ways in which they have embraced social-responsibility marketing.

A marketspace is physical, as when you shop in a store.

In response to threats from such companies as AOL, Amazon, Yahoo, eBay, E'TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This process became known as

Because of surprises and disappointments that can occur as marketing plans are implemented, a company needs feedback and control to understand the efficiency and effectiveness of marketing activities.

Distinguish between the concepts of value and satisfaction, using an example from one of your own recent marketing exchanges.

As economies advance, a growing proportion of their activities focuses on the production of ________.

Rising promotion costs and shrinking profit margins are the result of

When IKEA noticed that people wanted good furniture at a substantially lower price and created knockdown furniture, they demonstrated marketing savvy and turned a private or social need into a(n)

The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.