Exam 1: An Overview of Marketing

Toyota found that consumers wanted cars to last longer and be more environmentally friendly.GM,however,enjoyed being the top U.S.car producer,and focused more on how many cars and trucks it could manufacture and not on what customers wanted from a vehicle.GM had more of a _____ orientation.

Unlike a production orientated firm,a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.

Life is good® developed the "Good Karma" line of environmentally friendly 100% organic cotton apparel.The production of the Good Karma line is consistent with a _____ orientation.

The way to achieve customer satisfaction and value is to offer the lowest price.

Colorado Silversmith creates and markets silver and turquoise jewelry,which it sells to retailers in the western United States.The company's management believes its retail customers will stock more jewelry if its salespeople use aggressive marketing techniques,so the company provides strong incentives for salespeople and promotional allowances to resellers to get distribution for its jewelry.In other words,the company has a _____ orientation.

Kellogg's gives consumers the chance to receive a free DVD.Consumers who buy five boxes of specially marked cereal can cut out the coupons and mail in their completed official form to get a free DVD.Kellogg's is engaging in:

_____ is the collaborative efforts of people to achieve common objectives.

A company adhering to the marketing concept will likely take which of the following steps if it learned that its customers were dissatisfied with its product?

Discuss the elements needed to implement successful relationship marketing strategies.

SAP,the world's largest business software company,has pledged to put the "customer at the center" of their universe.SAP has captured the idea of:

Fujifilm Computer Products has improved the efficiency and productivity of its plant,which manufactures printing technology.For the new fiscal year,the company projects a production increase of 25 percent.It has instructed its sales force to aggressively distribute and promote its printers.The CEO is sure the market will absorb more product if the sales force is determined and assertive.Fujifilm appears to have a _____ orientation.

Chaz loves to play a Disney online pirate game in which he gets to create a pirate by choosing hair-color,skin-color,clothing,and physical features.Then he gets to choose from a variety of quests and can sail a ship,dig for treasure,fight skeleton pirates,or fight the British Navy.This game provides what element of value?

Customer value is the relationship between company profits and company costs.

For an exchange to take place:

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.Ritz-Carlton embodies an organization-wide commitment in service and support so that customers attain benefits relative to the price they pay for this service.Which element of an organization's focus is this commitment satisfying?

Which of the following statements about a typical sales-oriented business is true?

If a firm has a production orientation,what types of questions does management ask after assessing its resources?

Jewelry stores want to provide their customers with the highest quality of diamonds available at the lowest possible prices.Unfortunately,the lowest priced diamonds these days are sold by African rebels who use the profits to engage in genocide.Human rights organization have asked jewelers to buy diamonds that are "conflict-free," that is from South Africa,Australia,or Canada.LeeBrant is one retail jewelry store that sells only diamonds that are certified to be from these countries.LeeBrant is exhibiting which marketing management orientation?

Mimi Couturier is a design company that specializes in formalwear for women.The company is known for challenging fashion mores.The company's fashion designers use computer-assisted design software to create what it thinks women should wear.The company regularly hires industry experts to examine its factories to find waste and inefficiencies that can be eliminated.The company has expanded the number of products it offers for sale many times.However,for the last two years Mimi Couturier has lost money,and it has had to lay off some of its work force.To avoid this occurrence in the future,Mimi Couturier should:

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.