Exam 1: An Overview of Marketing

Andi Littleton has inherited a Featherlite brand horse trailer from her recently deceased grandfather.A preliminary investigation has shown many people would be interested in owning a Featherlite brand horse trailer.She is considering placing an advertisement in a newspaper targeted to horse owners.She has been told similar horse trailers are selling for about $14,000.Which of the following conditions is necessary for an exchange to occur between Littleton and a buyer?

When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking toilet,he gathered up materials totalling almost $70.On his way to checkout,an employee asked him what he was 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 which type of orientation?

Is the following statement true? "A production orientation is always harmful to relationship marketing." Explain your answer.

What gives customers the feeling their concerns are being addressed and,at the same time,gives employees the feeling their expertise matters to management?

Many companies are improving plant tours and making store visits more exciting to increase customer loyalty.For example,at the Crayola Factory,kids watch how crayons are made and then play with their favourite colours in a 20,000 square-foot discovery centre.Employees circulate to ensure visitors have a wonderful time.What plays a key role in Crayola's implementation of the marketing concept?

Which of the following is a philosophy,an attitude,a perspective,or a management orientation that stresses customer satisfaction?

An expert in library science stated in Library Journal,"What librarians need to tell people is not how wonderful our public libraries are but rather how wonderful they could be." What is the library science expert saying that libraries need to do?

Salespeople who work for market-oriented organizations are generally perceived by their customers to be order takers.

After hearing his company criticized for aggressive selling,the CEO of a company that manufactures products used to care for horses has determined that his company needs to adhere to the marketing concept and implement a market-oriented strategy.Which of the following is the first action the company should take in order to achieve this goal?

The minivans were developed through an extensive investment in research and development to completely redesign the minivans and provide customers with new and updated features.This effort is designed to better meet consumers' wants and needs,and suggests the company has adopted which type of orientation?

How is marketing important to business?

Jamie owns a small moving company.She has decided to take a few night school business courses because her company is growing quickly and there are many things she does not understand.Should Jamie enrol in a marketing course?

The circus's goal of redesigning the circus experience is being completed through the coordination of many marketing activities,such as value pricing,a product that includes exciting performances,tent venue locations,and promotion.What do these activities make up for the circuses?

Canada Post 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.Why does FedEx have a higher market share?

The statement "Marketing should be introduced at the beginning rather than the end of the production cycle and integrated into each phase of the business," is consistent with which type of orientation?

What is the philosophy of the marketing concept and market orientation? What three key areas are involved in the implementation of the marketing concept and a market orientation?

What must happen in order for exchange to occur?

Which of the following best characterizes marketing?

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

One way to identify the orientation of a firm is to examine its primary goal.What type of marketing management philosophy does a firm practice that seeks to achieve profitability through sales volume?