Exam 1: Marketing: Creating and Capturing Customer Value

Consumer-generated marketing will have little impact as a marketing force.

Your local department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educational and professional, of reading every day. This is an example of a(n)________ campaign.

Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.

Which of the following reflects the marketing concept philosophy?

Only sellers of products, services, and ideas practice marketing, whereas buyers do not.

The aim of customer relationship management is to create not just customer satisfaction, but customer delight. Explain.

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.

The ultimate aim of customer relationship management is to produce ________.

New communication technologies create challenges as well as advantages for marketers.

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!" So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick—to be implemented from early winter to late spring—that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers—both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals. "We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend getaways throughout winter." -Which social networks should Carol Veldt use to strengthen relationships with customers and attract new customers to Seagull Terrace?

Pete Sanchez, a recent graduate of business school, has a different approach than his marketing manager, who believes in keeping customers at arm's length and using television advertising. Pete knows that today few successful firms still practice this type of true ________ and are instead turning to selective relationship management.

Many company websites also serve as online brand communities.

The product concept says that a company should ________.

The marketing team at Bead Beautiful, a line of jewellery targeted at pre-teenage girls, is meeting to formulate the products' value proposition. What should team members consider as they define a value proposition for Bead Beautiful?

Which of the following trends is part of the changing marketing landscape?

Which of the following is most essential to even the simplest definition of marketing?

When an airline goes after a "share of travel" from its customers, it is attempting to increase ________.

Compare the selling and marketing concepts, listing the key components of each philosophy.

Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he or she remains in the area. This is an illustration of ________.

Consumer research, product development, communication, distribution, pricing, and service are all most accurately described as core ________ activities.