Exam 1: Defining Marketing for the 21st Century

The Internet has given today's companies a new set of capabilities.Among those capabilities is the ability to operate a new information channel.Describe how information can be used by the marketer in this new channel.

Companies selling goods and services in the global marketplace have the advantage of being able to sell the goods and services in almost the same way as they do in their domestic market.

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

Performance marketing involves reviewing metrics assessing market share,customer loss rate,customer satisfaction,and product quality in the evaluation of the effectiveness of marketing activities.

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 ________ includes the actors involved in producing,distributing,and promoting the offering.The main actors are the company,suppliers,distributors,dealers,and the target customers.

According to Theodore Levitt,who drew contrasts between the selling and marketing concepts,________ is preoccupied with the need to convert products into cash.

Marketing people are involved in marketing 10 types of entities.List and briefly characterize those entities.

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

________ activities include those the company undertakes to make the product accessible and available to target customers.

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

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

Car rental firms,barbers,and management consultants provide ________.

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

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

Holistic marketing incorporates ________,ensuring that everyone in the organization embraces appropriate marketing principles,especially senior management.

The strength of the ________ depends on the mutually profitable business relationships built by the company and its supporting stakeholders.

The marketing concept stresses a customer-centered approach to marketing.

The proliferation of targeted media and communication channels has allowed marketers to become much more aware of their target consumers' preferences and to customize both products and messages for individual consumers.

Illustrate the differences between a reactive market orientation and a proactive marketing orientation.Give an example of a company that uses a proactive marketing orientation