Exam 1: Creating Customer Relationships and Value Through Marketing

Why are you, as a student, already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

In a marketing context, a market refers to

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

In China, many people are removing their money from the state banks and lending it out themselves. The interest rate earned in a state bank account is about one-half the rate of inflation. On the other hand, loaning money to friends, relatives, and even unrelated entrepreneurs can often earn the investor a rate at least double the inflation rate. The gray market, an underground network of investors and private businesses, moves the cash from lenders to businesses. Did marketing occur here? Explain your answer.

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

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

The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard.

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

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

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

A customer value proposition is

Describe two different target markets for two different products or services you, your friends, or your family have recently purchased or used.

A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high paying, fulfilling position. Was this a marketing exchange?

Organizations such as American Airlines, U.S. Bank, and the Red Cross provide customers with products that are typically called a(n) __________.

Explain the marketing program 3M used to reach the office worker segment with its Post-it Flag Pen.

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

-In Figure 1-2 above, "B" is accomplished by __________.

Ultimate consumers refer to

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?