Exam 1: An Overview of Marketing

_____ is a strategy that focuses on keeping and improving relationships with current customers.

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

The Nestlé managers who oversee the content and interaction that takes place on its Facebook,Twitter,and the like should now perform routine __________ to ensure that social media no longer poses an external threat.

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

A manufacturer of bowls,spoons,and cutting boards knows marketing can make his company a success.He wants to rely solely on promotion as the technique for attracting customers.He advertises extensively in cooking magazines and provides retailers who carry his product with attractive displays.From this information,you know that the manufacturer has a _____ 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?

What does Telekom mean by achieving "data traffic instead of road traffic"?

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?

The fundamental problem with a sales orientation is a lack of understanding of customers' needs and wants.

According to the American Marketing Association,marketing is the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large.

Bob collects baseball cards and decides to sell a few of them on eBay.Some of the cards he wants to sell are rare and very valuable.What condition is necessary for an exchange to occur between Barry and a buyer?

What is the American Marketing Association's (AMA)definition of marketing and what does marketing entail?

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

Best Buy has become the nation's largest specialty retailer by focusing on the customer's needs and wants.This philosophy is at the heart of a(n)_____ orientation.

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

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

Which marketing management philosophy focuses on the question,"What can we make or do best?"

Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that:

At the Lands' End Web site,a customer can chat online with customer service representatives while shopping.This live help allows the customer to have questions answered before placing an order.This focus on meeting customer needs illustrates a(n)_____ orientation.

Nordstrom department store emphasizes _____ by accepting returns on items not purchased there.