Exam 1: An Overview of Marketing

Walker Farms has heard from many of its customers that they would like organic produce.As a result Walker Farms became a certified organic farm.Walker realizes that,while not all consumers are willing to pay the higher prices for organic produce,his customers want the organic produce.Walker realized:

A newspaper ad for a hospital that states,"We have the most modern delivery rooms and state-of-the art medical equipment," is an indication of which marketing management philosophy?

_____ is the collaborative efforts of people to achieve common objectives.

The focus of a production-oriented firm is on what it can make or do best.

Explain how marketing affects consumers' everyday life? How will the study of marketing enable you to be a better consumer?

An entrepreneur has set up a company to manufacture and market GPS systems for hunters. He has decided a sales orientation would best suit his new company.What are important considerations for this firm when it adopts this orientation? What are potential pitfalls of this orientation the owner needs to understand?

List the three advantages of defining the company's business in terms of the benefits customers seek instead of in terms of goods and services.

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

Circuses As recently as twenty years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, three hundred to six hundred people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine. -Refer to Circuses.To exhibit a societal marketing orientation,circuses could:

Circuses As recently as twenty years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, three hundred to six hundred people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine. -Refer to Circuses.The aggressive promotions used by advance men indicate that decades ago the circuses probably had a _____ orientation.

Kellogg's is offering free DVDs to consumers who collect 5 official Collection certificates from the back panels of specially marked packages of Kellogg's cereals and mail them with the official order form.Within 90 days,these consumers will receive the movie of their choice.A(n)_____ will occur when a movie fan mails in his or her certificates for a movie.

Best Buy has become the nation's largest specialty retailer by focusing on the customer's needs and wants.This philosophy is at the heart of a(n)_____ orientation.

When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking toilet,he gathered up materials totaling almost $70.One his way to checkout,an employee asked him what was he trying to fix.After some discussion,the employee convinced the homeowner that a $5.99 replacement part would fix the problem better than the materials he thought he needed and with less trouble.This sort of discussion between employees and customers is commonplace at The Home Depot and indicates the retail store has a(n)_____ orientation.

_____ is the primary tool used by a sales-oriented organization to achieve its corporate goals.

Circuses As recently as twenty years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, three hundred to six hundred people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine. -Refer to Circuses.The circus's goal of redesigning the circus experience is being completed through the coordination of many marketing activities,such as value pricing,a product that includes exciting performances,tent venue locations,and promotion.These activities make up the _____ for the circuses.

Greenberg Smoked Turkey,Inc.,is a nationwide mail-order business that operates without any advertising.It does not accept credit cards,has no toll-free number for customers to call,and does not have a Web site.This hopelessly old-fashioned company is also very profitable with thousands of devoutly loyal customers--some of whom have ordered Greenberg smoked turkeys every year for the last fifty years.Greenberg more than likely uses _____ to maintain these long-term ties to its customers.

The marketing concept involves:

Describe the concept of exchange and list the five conditions that must be satisfied for exchange to occur. If all conditions are met,does that guarantee exchange will occur? Explain why or why not.

All of the following are good reasons to study marketing EXCEPT:

The marketing concept stresses that the social and economic justification for an organization's existence is the satisfaction of customer needs and wants while: