Exam 1: An Overview of Marketing

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers.

A problem facing the timber industry is the absence of any effective way to prove that rain forest timber was legally harvested.In places like Indonesia as much as 80 percent of timber available for sale was illegally cut.Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rain forests.Which of the following conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot?

All of the following are marketing management philosophies EXCEPT:

Explain how marketing is important to business and society.

Kellogg's is offering free DVDs to consumers who collect 5 official Collection certificates from the back panels of specially marked packages of Kellogg's cereals and mail them with the official order form.Within 90 days,these consumers will receive the movie of their choice.A(n)_____ will occur when a movie fan mails in his or her certificates for a movie.

Explain the marketing concept and market orientation.What three requirements are necessary to implement a market orientation?

The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

Target shoppers can enroll in the Take Charge of Education program so that Target will donate one percent of purchases made with a consumer's REDcard,a Target credit card.The more money customers spend,the larger the donation to the consumer's school of choice.By instituting the Take Charge of Education® program to help local schools,Target has shown a _____ orientation.

Which marketing management philosophy focuses on the question,"What do customers want and need?"

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

NARRBEGIN: Starbucks Loyalty Rewards Starbucks Loyalty Rewards The First Starbucks opened in 1970 in Seattle Washington.The demand for its coffee grew and Starbucks added more than 6,000 stores located in over 30 countries.In its more than 30 year history,Starbucks has never given out coupons for its coffee.Starbucks had only to make its coffee and customers came.Recently consumer quality perception of the Starbucks brand has started to fall.Starbucks started a consumer-response blog to learn more about what consumers expect from Starbucks.One of the most frequent requests was for a customer rewards program.In response Starbucks has started the Starbuckscard rewards which offers free refills on brewed coffee,free beverage with whole bean purchase,beverage customization and free Wi-Fi.Starbucks also put coupons in a national newspaper for those consumers who love coupons and created a new brew of coffee for those who prefer a milder coffee taste.Starbucks is hoping with these improvements will restore customers' loyalty and confidence. -Refer to Starbucks.The creation of a consumer-response blog is an example of _____.

All of the following are basic marketing mix decisions EXCEPT:

Minor League Baseball (MiLB)suffers from sluggish attendance.To attract more fans to MiLB games,owners often resort to gimmicks--free hot dog nights,events designed to get into the Guinness Book of Records,and celebrity visits.Since baseball fans are seldom asked what would make them want to attend more games,this suggests most MiLB teams do not have a(n)_____ orientation.

A firm that adopts a(n)_____ orientation to marketing will fail to consider whether what the firm produces most efficiently also meets the needs of the marketplace.

NARRBEGIN: Ritz-Carlton Hotels Ritz-Carlton Hotels Cesar Ritz,the founder of the original Ritz-Carlton,Boston,was known as the "king of hoteliers and the hotelier to kings." Today,there are more than 70 Ritz-Carlton hotels spanning 24 countries with 38,000 employees.These are not typical employees,though.They are described as "Ladies and Gentlemen serving Ladies and Gentlemen." Each employee participates in an intensive orientation program and recertification programs throughout their careers with the company,and many are allowed $2,000 to fix a guest's problem on the spot without managerial approval.So renowned is the Ritz way of doing business that the company offers a Leadership Center for executives and managers of other companies to learn and implement the Ritz way of customer service.It doesn't stop with employees,though.Ritz-Carlton hotels recently launched "Give Back Getaways" in 2008 that allow guests to volunteer in locales where they are vacationing.The hotel also offers "Vow to Help Others" which is a program that donates a portion of a wedding couple's reception costs to those in need.The chief operating officer's words sum up Ritz-Carlton's philosophy best when he stated,"If we really do our job,we really don't need sales anymore.Satisfied guests are your advertising." -Refer to Ritz-Carlton Hotels.The "Give Back Getaways" and "Vow to Help Others" programs offered by Ritz-Carlton hotels are applications of which marketing management philosophy?

What is the fundamental objective of most businesses?

NARRBEGIN: Circuses Circuses As recently as twenty years ago circuses came to town with tents,animals,clowns,and other performers.An advance man arrived about two weeks before the circus actually arrived,covered the community with posters,and gave out free tickets to schoolchildren.If the advance man had done a good job,when the circus arrived and opened its tent doors,three hundred to six hundred people would fill its seats.When the largest circus organizations merged,the newly formed Ringling Bros.and Barnum & Bailey's Greatest Show on Earth began performing in 4,000-seat arenas. Attendance,however,has stagnated in recent years.People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created.The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago.Antique circus wagons,calliope music,and cotton candy are replacing the exotic animals and the prima donna performers.To satisfy the needs of this new audience,the tent circus now sells lattes and wine. -Refer to Circuses.To exhibit a societal marketing orientation,circuses could:

Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used?

Indonesian logging companies harvest the rain forests for timber and assume that a market exists for their products.The typical Indonesian logging company has a(n)_____ orientation.

Name and describe the four marketing management philosophies.