Exam 1: Creating Customer Relationships and Value Through Marketing

1952,General Electric's annual report stated,"The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Innovators at 3M developed Scotch-Brite^® 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

respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.

Define needs and wants.Can marketing shape a person's wants? Explain your answer.

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

factors are required for marketing to occur: (1)two or more parties (individuals or organizations)with unsatisfied needs; (2)a desire and ability on their part to be satisfied; (3)a way for the parties to communicate; and (4)__________.

combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

the movie Tin Men,two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners in 1963.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.

is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

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

four Ps of the marketing mix are

Which of the following terms best describes the marketing concept era?

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

today's smartphones,you can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.And more and improved new features are added with each new smartphone introduced from Apple,Samsung,BlackBerry,etc.As a result,consumers may want to replace their existing smartphones with new models or brands.This increase in demand is due in part to changes in ___________,an environmental force.

Organizational buyers are described as

marketing mix elements are called __________ because they are under the jurisdiction of the marketing department in an organization.

companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

United States Army recently has been both praised and criticized for its use of a popular video game-America's Army,which is designed to reach potential recruits.The game's creator,Colonel Casey Wardynski,wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older," which represent the Army's __________.

Which of the following statements best describes a service?

organization with a market orientation