Exam 1: An Overview of Strategic Marketing

​You are starting a new job next week at a consumer products company in Redmond, Washington. You will be responsible for managing the company's inventory levels, as well as the related transportation and storage costs. You will rely heavily on some previously-established relationships as you refine the firm's interactions with its various intermediaries.Your job responsibilities primarily relate to which of the following marketing mix variables?

Value = customer costs − customer benefits.

Marketing consists primarily of selling and advertising.

The marketing environment is best described as being

In marketing, a product can be a good or a service but not an idea.

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

The marketing concept focuses on

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. Greensprings' main competitive advantage over traditional cemeteries comes from its attention to which element in the marketing mix?

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?

The public is becoming more aware of how marketers' activities affect the welfare of consumers and society. As a result, more firms are working to

Customers are the focal point of all marketing activities.

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

From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ____ orientation.

The market concept stresses that an organization can best achieve its objectives by being customer-oriented.

Making modifications to packaging or brand names involves the ____ component of the marketing mix.

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

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?

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

Marketing costs consume about one-half of a buyer's dollar.

Changing the hours of operation for a service business involves the ____ component of the marketing mix.