Exam 1: An Overview of Strategic Marketing

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

A junior marketing executive at MegaGrain Cereals suggests increasing the package size and price of its best-selling brand without increasing the amount of cereal inside the box. Her superior warns that this might be a bad idea because MegaGrain's long-term survival, like most companies, depends on

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

The marketing concept stresses that a business organization can best achieve its goal by providing customer satisfaction through coordinated activities.

Scenario 1.1 Use the following to answer the questions. Greensprings Cemetery in upstate New York, offers a full-service funeral and burial that is non-toxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business, and are active conservationist and wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative to other environmentally-conscious Americans like themselves. -Refer to Scenario 1.1. A new website has helped Greensprings' pre-planned funeral business grow. These would come under which of the following marketing mix variables?

Target markets can be people who buy the product but do not necessarily use the product.

A market orientation is an organization-wide effort that includes all of the following activities except

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.

Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

The actual physical production of goods is a marketing activity.

Which of the following would not be a customer cost considered in determination of product value?

Organizing marketing activities hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the unit.

During the market orientation, businesspeople realized that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

Customer relationship management is the use of information about customers to create marketing strategies that develop and sustain desirable customer relationships.

Which of the following statements describes the best use of the Internet by a marketer?

Discuss the concept of green marketing and why it is important to marketers.

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

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

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization.