Exam 1: An Overview of Strategic Marketing

​The majority of the heads of marketing for most multinational corporations would likely describe marketing as a very complex discipline. They will give a long list of variables and factors that impact a company's marketing success. Most of these variables and factors are part of what is called the marketing environment.The U.S. unemployment rate would fall under which set of forces in the marketing environment?

Marketing activities do not always result in exchanges.

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

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

Price is seldom used as a competitive tool.

​You believe one of the most effective ways to remind your staff about key marketing concepts and objectives is to give them desk plaques with simple phrases. You want to create a phrase that reminds them that their primary focus should be creating customer value.Which of the following phrases best tells the story of what customer value is?

Long-term relationships with profitable customers is the key objective of

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

Describe several activities encompassed by the distribution variable.

A family that organizes and advertises a garage sale is performing marketing activities.

​In order to be successful in creating mutually-beneficial exchanges with customers, the marketer must focus on creating value in fact and in the mind of the customer. For the most part, value is a customer's ________________ assessment of benefits relative to costs. The marketer should recognize that the process people use to determine value _______________.

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

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?

Marketing professionals understand the challenges and implications of marketing in an inter-connected, global economy. While the discipline is primarily focused on building mutually-beneficial customer relationships for the firm, it has many other positive influences on the global economy that many in the general public are not aware of. For example, marketing creates a successful economy and leads to a _______________ for people all over the world. Additionally, ______________ can promote the welfare of customers and the firm's stakeholders.​

If a family spends $2,000 a month on goods and services, how much of that $2,000 goes for marketing activities?

Marketing activities

Define the term target market and provide an example for a product of your choice.

Why is marketing important to businesses and to the economy?

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets