Exam 1: Marketing in Today's Business Milieu

Marketing is relevant only to people in the organization who work directly in the marketing department.

The AMA's definition of marketing reflects the view toward marketing activities as focused on ________.

Describe how information power has shifted from the marketer to the customer.

Practicing marketers tend to pitch marketing internally as an investment, not an expense, in the future success of the organization.

A local landscaping company works hard to keep and cultivate profitable current customers instead of constantly investing in gaining new customers that come with unknown return on investment. This company has a ________ orientation.

Which of these characteristics about millennials is NOT true?

For successful Marketing (Big M), customer orientation must be understood by ________.

Marketing (Big M) is also known as ________ marketing.

Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation.

Name three of the marketing misconceptions discussed in the text, and explain why these do not accurately describe the field of marketing.

Sustainability refers to business practices that meet humanity's needs without harming future generations.

________ refers to approaches that drive the market toward fulfilling a whole new set of needs that customers did not realize was possible or feasible before.

Peter Drucker, the father of modern management, believed that marketing ________.

In the current business environment, firms have learned to be open about products and services with consumers who have endless sources of information, including blogs, chat rooms, and independent websites.

In the context of change drivers impacting the future of marketing, marketing (little m) is also known as ________ marketing.

Compare and contrast the production orientation, the sales orientation, the differentiation orientation, the market orientation, and the relationship orientation.

Of all the business fields, ________ is generally the most visible to people outside the organization.

Don Peppers and Martha Rogers popularized the term one-to-one marketing. Some firms come close to one-to-one marketing by combining flexible manufacturing with flexible marketing to enhance customer choices.

Strategic marketing refers, in part, to ________.

Which of the following statements is TRUE of marketing?