Exam 1: Defining Marketing for the 21st Century

Value marketing is the "art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value."

The shift to digital technology fueling the merging of the computing and consumer-electronics industries is an example of which major societal force?

When 3M, HP, and Motorola practise researching or imaging latent needs of consumers, they are most likely using which of the following marketing orientations with respect to their consumers?

Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called

If a marketer decides to use warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using what is called a

Marta has a(n) ________ need; she is expecting admiration of her fashion sense from her friends because she has just purchased a skirt in this spring's hottest colour.

Much of a brand's strength depends on developing a superior product and backing it with engaging communications in which of these key customer markets?

Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

The ________ is practised most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopedias, and funeral plots.

Good marketing is no accident, but a result of careful planning and

A short definition of marketing is "meeting needs profitably."

Sustainability has become a lesser corporate concern in the face of challenging economical forces.

Companies shape separate offers, services, and ________ to individual customers based on information about past transactions, demographics, psychographics, and media and distribution preferences.

In business markets, advertising can play a role, but a stronger role may be played by the sales force, ________, and the company's reputation for reliability and quality.

The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.

Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.

Demands are wants for specific products backed by an ability to pay.

Illustrate the differences between a reactive market orientation and a proactive marketing orientation. Use two companies from the tennis shoe industry to exemplify the differences between the concepts.

Celebrities can play a more fundamentally strategic role for their brands, not only endorsing a product but also helping to design, position, and sell merchandize and service.