Exam 1: Marketing: the Art and Science of Satisfying Customers

Marketing efforts designed to attract visitors to a particular area or to improve the image of a city, province, or country would be examples of cause marketing.

When management shifts its focus from product orientation to customer orientation, future growth is endangered.

Match each definition to the corresponding term. a.utility b.buzz marketing c.exchange process d.seller's market e.buyer's market f.marketing myopia g.social responsibility h.relationship marketing i.person marketing j.place marketing k.event marketing l.organization marketing m.interactive marketing n.lifetime value of a customer o.social marketing p.one-to-one marketing q.strategic alliances r.not-for-profit organizations s.ethics t.mobile marketing u.wholesalers v.transaction-based marketing -A musician endorses a certain automobile. This is an example of ____.

What type of marketing does the Coca-Cola Company engage in as an official sponsor of the Olympics?

In the sales era, firms attempted to match their output to the potential number of customers who would want it.

The Canadian Armed Forces sending military personnel out to make a public appearance at the Grey Cup is an example of organization marketing.

What utility does Coach create when the company combines fabric and leather in the production of its high-fashion handbags?

When did relationship marketing emerge?

What is the biggest distinction between not-for-profit and for-profit organizations?

What are sustainable products? What are the benefits of sustainability efforts?

Successful marketing specialists must approach the marketplace in a three-step method: determine consumer wants, calculate an organization's ability to service these wants, and put in place the processes to create the goods or services to change consumers into customers.

Surveys have shown that marketers overestimate the impact that cause marketing has on how the customer views the company. Sales will not increase because a company is linked to a cause.

The emergence of the marketing concept can be linked to the shift from a seller's market to a buyer's market.

Social responsibility includes marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant and the company relies on its marketing department to find customers. What era of marketing history is this approach consistent with?

Marketing is the organizational function that refers to all forms of selling from institutional sales to personal selling.

For-profit organizations are more influenced by their customers than not-for-profits.

Buying, selling, transporting, and storing are known as the facilitating functions of marketing because they represent the exchange and physical distribution functions.

All organizations must create utility to survive.

What utility is created when a firm's production department converts raw materials and other inputs into finished products?