Question 1

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

Accepted Answer

The answer of Discuss the concept of green marketing and...

Question 2

Discuss the evolution of the marketing concept through the various types of orientation.

Accepted Answer

The answer of Discuss the evolution of the marketing concept...

Question 3

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

Accepted Answer

A)  production 
B)  market 
C)  revolutionary 
D)  sales 
E)  reduction

Question 4

It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that stay colder longer.

Accepted Answer

A) True 
 B)False

Question 5

Scenario 1.2 Use the following to answer the questions.
Paws and Claws Hotel is a full service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly book a grooming appointment, obedience class, or overnight accommodations for their dog or cat. Paws and Claws has several unexpected services, such as a 600-square-foot swimming pool, complete with slide and dog-friendly graduated steps to help them exit the pool. Customers can also drop their dog or cat off each morning for pet day care. Paws and Claws has a pick-up and delivery service, webcams in every kennel so that pet families can view their pets while away, and pet "furniture" so that the cats and dogs can lie on sofas just like at home. Paws and Claws is also open 24 hours a day, 365 days each year so that customers can pick up their pet at any time.
The cost for an overnight stay at Paws and Claws averages $50, compared to competing kennels at about $30. The day care costs are $25 for either a dog or cat. The majority of Paws and Claws' competitors don't offer the day care service, and require a two-day minimum for overnight stays.
Informal discussions with customers led to the addition of pet day care and 24-hour hours of operation. Previously, Paws and Claws was more interested in competing based on its prices.
Refer to Scenario 1.2. Previously, Paws and Claws was most likely using a ____ orientation, while it is now in the process of employing the _______.

Accepted Answer

A)  sales; marketing concept 
B)  sales; marketing mix 
C)  promotion; marketing concept 
D)  sales; promotion orientation 
E)  sales; product orientation

Question 6

The marketing concept is

Accepted Answer

A)  a management philosophy. 
B)  synonymous with exchange. 
C)  a component of the marketing mix. 
D)  a function of the marketing environment. 
E)  focused solely on satisfying customer objectives.

Question 7

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?

Accepted Answer

A)  "Customer Benefits = Customer Value - Customer Costs" 
B)  "Customer Value = Customer Benefits + Customer Costs" 
C)  "Customer Costs > Customer Benefits = Customer Value" 
D)  "Customer Value = Customer Benefits - Customer Costs" 
E)  "Customer Value = Customer Benefits = Customer Costs"

Question 8

The ability to identify individual customers allows marketers to shift their focus from

Accepted Answer

A)  share of market to share of customer. 
B)  relationship marketing to customer lifetime value. 
C)  customer relationship management to customer lifetime value. 
D)  share of market to profitability. 
E)  customer lifetime value to market share.

Question 9

Value = customer costs − customer benefits.

Accepted Answer

A) True 
 B)False

Question 10

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?

Accepted Answer

A)  Product, price, distribution, and promotion variables 
B)  Marketing environment variables 
C)  Product and promotion variables 
D)  Product, price, and customer variables 
E)  Product, price, customer, and promotion variables

Question 11

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

Accepted Answer

A)  issue. 
B)  experience. 
C)  idea. 
D)  good. 
E)  service.

Question 12

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

Accepted Answer

A)  25 to 33 percent 
B)  81 to 92 percent 
C)  42 to 50 percent 
D)  64 to 76 percent 
E)  10 to 20 percent

Question 13

The marketing mix is built around the

Accepted Answer

A)  product. 
B)  company. 
C)  customer. 
D)  employee. 
E)  retail outlet.

Question 14

In today's market environment, you might pay $16 for a physical CD by your favorite musical artist. Approximately how much of that price goes to activities related to marketing (promotion, distribution, profit margins)?

Accepted Answer

A)  $10.25 
B)  $4.00 
C)  $5.10 
D)  $8.00 
E)  $12.75

Question 15

Achievement of the firm's overall goals is part of the marketing concept.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The hospitality industry, including restaurants, hotels, and airlines, relies on business travelers for a large portion of their revenue and profitability. Research indicates that business travelers need to stay connected or tethered to their devices and office even when on the road or between business appointments. In addition, business travelers demand convenience and enhanced services such as remote check-in and check-out via their smartphone, checking flight schedules and delays through travel applications, and access to rental cars without having to stop at the rental car counter. Organizations serving the business travel market segment must provide enhanced services such as free wireless Internet access. The research related to the business travel market segment indicates that companies serving these customers must be able to leverage _______ changes in the marketing environment by providing customers with a variety of new products or services such as wireless Internet, remote check-in, and remote access to rental cars.

Accepted Answer

A)  sociocultural 
B)  economic 
C)  technological 
D)  political

Question 18

Explain why a knowledge of marketing is beneficial for all students.

Accepted Answer

The answer of Explain why a knowledge of marketing is...

Question 19

When DataComp Corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.

Accepted Answer

A)  distribution; promotion 
B)  distribution; product 
C)  product; price 
D)  product; promotion 
E)  promotion; price

Question 20

The successful marketer understands that the key to her success is the relationships her firm is able to develop with current customers and potential customers. Moreover, her goal is to achieve the full potential of each of these relationships for the benefit of the firm.
This marketer clearly understands

Accepted Answer

A)  that the only way for the firm to increase profits is to constantly acquire new customers. 
B)  that customers' needs, desires, and habits are homogeneous. 
C)  that customer loyalty leads to increasing long-term profitability for the firm. 
D)  that data is of limited use in helping the firm understand the needs of customers. 
E)  that customer lifetime value only includes the value of what customers purchase from the firm.

Exam 1: An Overview of Strategic Marketing

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

Discuss the evolution of the marketing concept through the various types of orientation.

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

It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that stay colder longer.

The marketing concept is

The ability to identify individual customers allows marketers to shift their focus from

Value = customer costs − customer benefits.

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?

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

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

The marketing mix is built around the

In today's market environment, you might pay $16 for a physical CD by your favorite musical artist. Approximately how much of that price goes to activities related to marketing (promotion, distribution, profit margins) ?

Achievement of the firm's overall goals is part of the marketing concept.

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

Explain why a knowledge of marketing is beneficial for all students.

When DataComp Corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the variable caused changes in the variable of the marketing mix.