Exam 1: Creating Customer Relationships and Value Through Marketing

Do college students have a choice in which classes they take in order to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision making.Incorporate your marketing terms.

While working at 3M, Windorski and his team observed and questioned students about how they used their textbooks, took notes, wrote term papers, and reviewed for exams, primarily in order to

The idea that individuals and organizations are accountable to a larger society is known as

Marketing discovers consumer needs by

Assume you are a salesperson for a direct marketing firm that does "in-home" parties (such as Tupperware, Discovery Toys, etc.) If most of your hosts or hostesses hold only one party a year, what strategies could you use to build strong customer relationships and customer value? (If you are creating your own business for this example, make sure to describe your product(s) in your introductory sentence.)

How much time does 3M allow their inventors for the purpose of doing initially unfunded research?

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

Organizations such as American Airlines, Air Canada, and North American Airlines provide customers with tickets and reservation.These organizations are providing a(n) __________.

At the BMW Web site, BMW.com, you can design your own personal BMW.If you choose to do this and purchase the car, what type of utility has been created?

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he has accumulated enough points, he can trade his points in for a free night's stay.As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points.The marketing term that best describes this scenario is

FIGURE 1-1 -In Figure 1-1 above, "D" represents a firm's relationship with

The common factor among the chairman of the board, the stockholders, the suppliers, the laborers in the factory, and finally the customer who purchases the product is

In Figure 1-2 above, section "A" represents __________ and section "B" represents __________.

To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

The societal marketing concept is

FIGURE 1-6 -Using Figure 1-6 above, identify and explain the five environmental forces that affect an organization.

A __________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

In the movie, The Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners.Their job was difficult, in part, because the supply of aluminum siding surpassed the demand for the product and competition was intense.This situation is indicative of the __________ era of U.S.business history.

FIGURE 1-5 -In Figure 1-5, letter "C" represents which stage in the life of market-oriented manufacturing firms?

Firms such as General Electric and Marriott have achieved great success by putting huge effort into implementing the marketing concept, giving their firms what has been called