Exam 1: An Overview of Strategic Marketing

Ben is responsible for managing the customer satisfaction of Hampton Inn motel guests.Ben is currently analyzing the customer relationship management (CRM)program at Hampton Inn and is contemplating where he should begin making changes.Which of the following would be the beginning of a CRM program,and therefore the area Ben should consider first?

Which of the following best describes the acceptance of the marketing concept by American organizations?

The marketing concept deals only with marketing activities.

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Which of the following is most likely to be an idea marketer?

The actual physical production of goods is a marketing activity.

Marketing facilitates exchange relationships between buyers and sellers.What is marketing's intended outcome for this relationship?

U.S.Electric,the maker of a highly innovative xenon light bulb used in large,manufacturing facilities,finds that it has excess inventory.The firm increases its direct marketing budget by 20 percent and adds three new sales representatives.This company is operating as if it were in which of the following orientations?

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

For a business organization to remain healthy and to survive,it must sell products and make profits.

Marketing is the process of

Marketing efforts do not involve the design and development of products.

Distribution,price,promotion,and product are all elements of

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Profit,even at the expense of customers' satisfaction,is the major thrust of the marketing concept.

In managing customer relationships,the three primary ways profits can be obtained are by

Define the term value,and explain how people determine a product's value.

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

Value = customer costs - customer benefits.

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.