Exam 1: Marketing: Creating Customer Value and Engagement

At a local farmers' market, Molly Malone sells mussels while shouting to passersby, "Fresh seafood, get your fresh seafood here!" What kind of perspective is Molly taking?

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

The selling concept is typically practiced ________.

The meaning of value is perceived identically by all consumers.

Marketers use mobile channels for several purposes. Which of the following is least likely to be one of those purposes?

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?

Compare the selling and marketing concepts, listing the key components of each philosophy.

Alex works in the marketing department of an international company. How can Alex use modern technologies to conduct market research and better serve his company's customers?

When backed by buying power, needs become wants.

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?

Refer to the scenario below to answer the following question(s). Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!" So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan also involved a seasonal promotional gimmick-to be implemented from early winter to late spring-that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals. "We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that are a part of the local cuisine, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities. With an indoor pool area, I will eventually offer weekend getaways throughout winter." -Carol Veldt's plan also involves a seasonal promotional gimmick that she wants to promote aggressively. This is an example of the ________ concept.

Which of the following is a characteristic of customer-driven marketing?

A(n) ________ is the set of actual and potential buyers of a product or service.

Which of the following actions should a marketer take in response to the new economy?

Discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

Which of the following customer questions is answered by a company's value proposition?

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.