Exam 1: Strategic Marketing Management

The marketing concept affects

Implementation of marketing plans requires motivating marketing personnel,coordinating their activities,and integrating their activities both with those in other areas of the company and with the marketing efforts of personnel in external organizations.

The product variable of the marketing mix can include all of the following except

For an exchange to occur,at least one of the parties must be willing to give up his or her "something of value."

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

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

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

A market orientation requires the organization-wide generation of market intelligence pertaining to current and future customer needs,dissemination of the intelligence across departments,and organization-wide responsiveness to it.

Marketing activities do not always result in exchanges.

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

Approximately what percentage of civilian workers in the United States performs marketing activities?

The three basic forms that a product can take are

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.

A target market is always defined by demographics.

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

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

At the most basic level,profits can be obtained through relationships by acquiring new customers,enhancing the profitability of existing customers,and extending the duration of customer relationships.

Promotion can help sustain interest in established products that have long been available.

Explain why marketing efforts should be oriented toward creating and sustaining satisfying exchange relationships.

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