Exam 1: An Introduction to Marketing

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?

What type of orientation does a firm have if it doesn't take into consideration the needs of the marketplace?

The marketing concept includes a goal orientation to remind managers of which of the following?

The management at Fairmont Hotels has authorized its hotel staff to provide, as quickly as possible, whatever amenity-such as a special magazine or a hypoallergenic pillow-their frequent stayers request. What is Fairmont management using to provide customer value?

What is a market segment?

Which of the following is the meaning of place in the marketing mix?

Which of the following best describes customer relationship management?

Many of the lowest-priced diamonds are sold by African rebels who use the profits to engage in genocide. LeeBrant is one retail jewellery store that sells only diamonds that are certified to be from "conflict-free" countries. One could say that LeeBrant has which of the following types of orientation?

Which of the following is a defining characteristic of exchange?

Which of the following is an example of good value?

The ultimate goal of most market-oriented firms is profitability, which results from satisfying the wants and needs of its consumers.

Sky High Builders is a sustainable construction company that uses eco-friendly materials to repair or construct infrastructure in the city. The company's products are made from recycled plastic. What type of orientation does Sky High Builders have?

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

If a firm has a production orientation, what types of questions does management ask after assessing its resources? How would these questions differ for a service organization?

What should a retail casket outlet do if it wishes to offer customer value?

How would a firm benefit from production orientation?

What is Saatchi & Saatchi?

Firms try to achieve customer satisfaction and value by ensuring customer expectations are met or exceeded.

For years, Richard Branson, founder of the Virgin Group, has believed in customer service. He believes that good customer service stems from an environment founded on "a chain, one that is consistent from beginning to end." Which idea has Virgin Group captured in this short phrase?

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using CRM.