Exam 1: An Overview of Strategic Marketing

Scott,a buyer for a medium-sized company,is assessing the value of competing software products for use in his firm.Which of the following would not be a customer benefit considered in his determination of this product's value?

Which of the following best characterizes the forces of the marketing environment?

A target market is always defined by demographics.

Customers are interested in a product's price because they are concerned about the value obtained in an exchange.

Changes in the marketing environment always hurt marketing efforts.

Which one of the following statements by a company president best reflects the marketing concept?

The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments.

The Church of the Latter Day Saints has used advertising for many years,airing a commercial TV spot that shows parents actively playing games with their children.The Church is using marketing to promote its

The marketing mix consists of three major variables: product,price,and distribution.

According to the marketing concept,an organization should try to

A marketing manager for a small computer manufacturer is analyzing the potential effects of political,legal,sociocultural,and economic forces on the firm's operations.The marketing manager is examining the ____ that influence(s)the firm's strategy.

In general,when marketers focus on customers chosen for their lifetime value,they earn lower profits in future periods than when they focus on customers selected for other reasons.

Customer benefits include time and effort.

Marketing activities do not always result in exchanges.

At the most basic level,profits can be obtained through relationships by acquiring new customers,enhancing the profitability of existing customers,and extending the duration of customer relationships.

Scenario 1.2 Use the following to answer the questions. Paws and Claws Hotel is a full-service pet salon and boarding kennel.Paws and Claws has an interactive website where customers can directly book a grooming appointment,obedience class,or overnight accommodations for their dog or cat.Paws and Claws has several unexpected services,such as a 600-square foot swimming pool,complete with slide and dog-friendly graduated steps to help them exit the pool.Customers can also drop their dog or cat off each morning for pet day care.Paws and Claws has a pick-up and delivery service,webcams in every kennel so that pet families can view their pets while away,and pet "furniture" so that the cats and dogs can lie on sofas just like at home.Paws and Claws is also open 24 hours a day,365 days each year so that customers can pick up their pet at any time. The cost for an overnight stay at Paws and Claws averages $50,compared to competing kennels at about $30.The day care costs are $25 for either a dog or cat.The majority of Paws and Claws' competitors don't offer the day care service,and require an two-day minimum for overnight stays. Informal discussions with customers led to the addition of pet day care and 24-hour hours of operation.Previously,Paws and Claws was more interested in competing based on its prices. -Refer to Scenario 1.2.If Paws and Claws employs the philosophy of building a relationship with its dog and cat customers,and their owners,it will be implementing the

The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.

To implement the marketing concept,an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

Explain why marketing efforts should be oriented toward creating and sustaining satisfying exchange relationships.

A physical product you can touch is a(n)