Exam 1: An Overview of Marketing

Firms with a _____ orientation focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace.

Researchers at PPG Industries spent considerable time,effort,and money developing a bluish windshield that would let in filtered sunlight but block out the heat.Little market research was done,but the scientists were convinced this new product would be significantly better than existing windshields even though it was more expensive and of a different color than the current models on the market.This scenario suggests PPG most likely has a(n)_____ orientation.

Which of the following statements about the societal orientation is FALSE?

A firm with a production orientation is most likely to survive if:

An exchange cannot take place unless each party in the exchange has something that the other party values.

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.For more than thirty years Starbucks held the orientation of "If we build it,they will come." This philosophy is most in line with a _____ orientation.

Marketing is important to business,so marketing should be part of the job of everyone in the organization,not just those in marketing.

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.Which of the four conditions did NOT exist in the minds of the Starbucks consumer,resulting in declining sales?

The Geek Squad is a tech support station located inside every Best Buy electronics retail store.Best Buy gives intensive training to the Geeks.The purpose of this training is to:

A newspaper ad for a hospital that states,"We have the most modern delivery rooms and state-of-the art medical equipment," is an indication of which marketing management philosophy?

One facet of marketing is that it is:

A company that wants to implement a market orientation would need to:

Jacques Torres Chocolate is a factory and retail store in Brooklyn.Its owner is willing to try to produce new products when his customers suggest them--such as chili-pepper-laced chocolate candy.His only condition is that when he adds new products,his customers have the final say on whether the product is of any value.According to Torres,"If something doesn't move,that's the last time you see it." By focusing on customers' wants,the chocolate company exhibits a(n)_____ orientation.

What is the marketing concept? According to the marketing concept,what determines if a sale will actually occur?

A sales-oriented firm defines its business (or mission)in terms of:

Compare and contrast the sales and market orientations using the following five characteristics as guidelines: (1)organization's focus,(2)business the organization is in,(3)people to whom the product is directed,(4)the organization's primary goal,and (5)tools used to achieve that goal.

What is customer value? What are the six ways marketers can make sure customers perceive their companies/products as sources of value?

When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking toilet,he gathered up materials totaling almost $70.One his way to checkout,an employee asked him what was he trying to fix.After some discussion,the employee convinced the homeowner that a $5.99 replacement part would fix the problem better than the materials he thought he needed and with less trouble.This sort of discussion between employees and customers is commonplace at The Home Depot and indicates the retail store has a(n)_____ orientation.

The U.S.Postal Service (USPS)argues that its express service is comparable to what is offered by FedEx and that its prices are much lower.Yet,FedEx dominates with more than a 45 percent share of the express-delivery market.Which of the following statements describes this situation?

In the early 1920s,Ford promised its customers any color vehicle they wanted as long as it was black.Ford's management assumed anyone buying a car would accept the color black,so it made products affordable by offering only one variety in large quantities.Ford is an example of a market-oriented firm.