Exam 1: Creating Customer Relationships and Value Through Marketing

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange.To marketing people exchange refers to the

Which of the following statements about customer value is most accurate?

Marketing mix refers to

FIGURE 1-1 -As shown in Figure 1-1 above, the __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, its shareholders, its suppliers, and other organizations.

A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst.The refrigerator offers the youngsters many alternatives-soft drinks, fruit drinks, sport drinks, and bottles of Sunny Delight drinks.The ad, which shows the teens happily selecting Sunny Delight over all the other product offerings, appeals to the consumers' __________ for liquid and attempts to shape consumers' __________ for the advertised product.

The four Ps are commonly known as

Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread machines.The mixes are sold in 2-pound canisters for $14.99 plus postage.The products are only available through the mail.People learn about the product through word-of-mouth and through bread machine demonstrations the company's founder gives to groups in the area of Wisconsin where she lives.This is a description of the company's

Marketing managers used a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Identify the six types of pre-launch issue that needed to be addressed before the Post-it^® Flag Highlighter could be introduced.

In the 1960s, marketing became the motivating force among many American firms and the __________ dawned.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

More than half of new businesses fail within __________ years of their launch.

while also trying to achieve the organization's goals is referred to as the

Which of the following statements about stakeholders is most accurate?

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Today's __________ era is one in which firms seek continuously to satisfy the high expectations of customers.

Which of the following best describes the concept of social entrepreneurship?

Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth.You plan to sell your product on an Internet site, which you will advertise on late night television.You are also hoping to obtain free publicity in men's fashion magazines.You are planning to sell a 15-ounce bottle for $24.99 plus $7.99 shipping and handling.Using the information provided, identify each element of your marketing mix.Identify the target market for your shampoo and explain how can you use relationship marketing to increase sales?

Innovators at 3M developed Scotchbrite® Never Rust Wool Soap Pads from recycled plastic bottles.Even though these soap pads are more expensive than competitive brands (Brillo and SOS), customers are willing to pay the premium price.Customers appreciate the value of a superior product (they don't rust or scratch) and appreciate the fact that their purchase is environmentally responsible.This demonstrates that

Define the marketing concept.