MKTG Quiz 1
ACB Ltd. provides credit to dealers, as well as buyers of Alfresco Automobiles. The marketing function performed in this case is:
Financing
What is the role of marketing in sustainability efforts?
Firms gain credibility from their efforts to protect the environment.
Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the following would be an appropriate way to apply this approach?
Focus on meeting the needs of the consumers
You work on the assembly line at Ford Motor Company. Your line produces the hot selling, Ford Focus hybrid. Your line creates _________ utility for Ford's customers.
Form
By converting indifferent customers into loyal ones through relationship marketing, companies can:
Generate repeat sales
Marketers have been forced to adopt a more global perspective with their strategies. Which of the following is a key factor in driving this change?
Greater interdependence of the world's economies
The application of relationship marketing requires attention to levels of customer loyalty. Which of the following is the highest level as defined by this type of marketing?
Advocate who not only buys the products but recommends them to others
According to relationship marketing, firms must apply higher standards of customer satisfaction to external customer relationships over intradepartmental relationships.
False
An auto manufacturer creates ownership utility for its consumers by combining metal, rubber, plastic and petroleum products.
False
An important difference between not-for-profit and for-profit organizations is that, not-for-profit organizations cannot market tangible goods.
False
Branches of the U.S. military sometimes show recruitment advertisements in cinemas featuring movies that are most likely to attract viewers of military age. This is an example of place marketing.
False
Buying, selling, transporting, and storing are known as the facilitating functions of marketing because they represent the exchange and physical distribution functions.
False
Firms that make the most efficient use of buzz marketing claim that it is a "one-way" approach to building customer relationships.
False
Firms that narrowly define their organizational goals can avoid the problem of marketing myopia.
False
Information technology has enhanced the effectiveness of relationship marketing by leveraging mass-marketing campaigns.
False
Marketing is the organizational function that refers to all forms of selling from institutional sales to personal selling.
False
Marketing of a product begins after it hits the shelf.
False
Marketing of sporting, cultural, and recreational activities to selected target markets is known as cause marketing.
False
On account of their unselfish goals of serving society, not-for-profit organizations are not required to have marketing objectives.
False
Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.
False
Promotional events designed to attract visitors to a particular area or to improve the image of a city, state, or nation would be examples of event marketing.
False
Relationship building in marketing starts with excellent customer service after purchase.
False
The cost of finding new customers is far less than the cost of maintaining existing ones.
False
The establishment of the WTO, the passage of NAFTA, and the creation of the Euro are examples of protectionism on the part of nations concerned with increased globalization of the marketplace.
False
The financial bottom line refers to the limitations laid on the budgets of a firm.
False
The functions of marketing can be grouped into three major categories: exchange functions, physical distribution functions, and financing functions.
False
The main goal of not-for-profit organizations is to generate revenues above and beyond their costs to make money for all stakeholders involved.
False
The marketing concept focuses on the objective of achieving short-term profits instead of long-run success during tough economic times.
False
The marketing era is the successive historical outcome of the production era.
False
The physical distribution functions of marketing are related to advertising, personal selling, and sales promotion in the attempt to match products and services to consumer needs.
False
While many firms claim to have adopted the marketing concept, there is little evidence that a strong market orientation contributes to market success and overall performance.
False
You are pleased to learn that the firm you've just joined has begun a sustainability initiative. In fact, one of your first assignments is to write a memo describing the key dimensions of such an effort. But when you submit a draft of the memo to your supervisor, she points out at least one significant error. Identify the sentence(s) with a mistake.
not sure
The most obvious distinction between not-for-profit and for-profit organizations is:
not-for-profit organizations have a different view of what constitutes the bottom line.
An alliance between a not-for-profit organization and a for-profit organization:
often benefits both parties
The term 'bottom line' is a reference to:
overall company profitability.
Melissa is campaigning for Janet, her friend, who is contesting for the presidency of the student council at Riverdale Junior College. Melissa's effort is an example of _____ marketing.
person
Tim Howard, the goal keeper for the U.S. Men's soccer team, has just signed a major marketing deal with your company. You plan to utilize him in a variety of marketing campaigns leading up to the 2018 Men's Soccer World Cup in Russia. Which one of the following categories of nontraditional marketing will you emphasize in this situation?
person marketing
State bureaus of tourism and conventions typically engage in _____ marketing.
place
The facilitating functions of marketing include:
securing marketing information and financing
Plastic bottles can take up to 1,000 years to decompose in a landfill. An enterprising entrepreneur recently developed an alternative bottle made from algae that is biodegradable. The algae bottle is an example of a _______ product.
sustainable
The _____ equals the revenues and benefits a customer brings to an organization, minus expenses to attract and maintain the relationship.
Lifetime value of a customer
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have values for customers, clients, partners, and society at large is called _____.
Marketing
The _____ is a company wide consumer orientation with the objective of achieving long-run success.
Marketing Concept
Which of the following statements regarding the marketing era is true?
Marketing and selling would no longer be considered synonymous terms.
The _____ is a companywide consumer orientation with the objective of achieving long-run success.
Marketing concept
Which of the following is true regarding marketing?
Marketing encompasses such a broad scope of activities and ideas that settling on one definition is often difficult.
Companies must broadly define their goals so they focus on fulfilling consumer needs in order to avoid _____________.
Marketing myopia
_____ results from management's failure to recognize the scope of its business.
Marketing myopia
The growth of wireless technology has given rise to a new marketing strategy called _____.
Mobile marketing
A buyer's market is characterized by:
More goods and services than buyers to buy them
The American Cancer Society in the private sector and The Department of Natural Resources in the public sector are examples of _____.
Not-for-profit organization
Which of the following statements is correct regarding not-for-profit organizations?
Not-for-profit organizations hope to generate as much revenue as possible to support their causes.
_____ is a customized marketing program designed to build long-term relationships with individual customers.
One-to-one marketing
Your coffeehouse is struggling to build a customer base, despite your prime location adjacent to a big university. When you confide in your former marketing professor, he tells you the problem is with insufficient time utility. How can you address this aspect of your marketing?
Open earlier in the morning
A university sells customized sweatshirts, pullovers, and jerseys to its students and staff. This is an example of _____.
Organization marketing
Many not-for-profits utilize _____ in order to influence people to accept their goals or contribute in some way.
Organization marketing
The ability to transfer title to goods or services from marketer to buyer is described as:
Ownership utility
A musician endorses a certain automobile. This is an example of ____.
Person marketing
Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping. What type of utility are banks creating for customers?
Place
The Today Show partnered with the US National Parks in 2016 to celebrate 100 years of national parks. Various Today Show regulars such as Matt Lauer and Al Roker were featured visiting the parks. This campaign is an example of _____ marketing, a type of nontraditional marketing.
Place
An advertisement titled "The Ultimate Place for a vacation" is an example of _____.
Place marketing
Many hotel chains offer free stays and other perks to repeat customers. This is an example of:
Relationship marketing
_____ describes the current era in the history of marketing.
Relationship marketing
Manufacturers create goods and services based on research and their belief that consumers need them. In doing so, what marketing function are they performing?
Risk taking
A company with a _____ orientation assumes that customers will resist purchasing nonessential goods and services and that the task of personal selling and advertising is to persuade them to buy.
Sales
A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history?
Sales era
Which function of marketing helps marketers determine what consumers want and need and how to offer goods and services to satisfy them?
Securing market information
A market in which there are more buyers for fewer goods and services is known as a:
Seller's Market
A(n) _____ occurs when buyers outnumber sellers or product supply.
Seller's market
Products that can be produced, used, and disposed of with minimal impact on the environment are called:
sustainable products
Relationship marketing relies heavily on:
technology to store customer data and to customize products/services.
Forever 21 is a popular fashion clothing company for women and often attracts customers to its website or retail stores by posting pictures to its Facebook and Instagram account. Forever 21 has over 10 million followers on Instagram and over 13 million on Facebook. What marketing era best describes Forever 21 and its approach to marketing activities?
Social
Enterprise Rent-A-Car has invested in new equipment to reduce their carbon footprint and conserve energy. A large percentage of Enterprise's airport shuttle buses use cleaner fuel such as biodiesel. Focusing on reducing their carbon footprint is one way that Enterprise is demonstrating __________.
Social Responsibility
When a firm contributes to environment protection and human welfare programs, which type of behavior is it exhibiting?
Social Responsibility
The use of online social media as a communications channel for marketing messages is known as _____.
Social marketing
Corporations that voluntarily recycle paper, glass and electronics practice _____.
Social responsibility
Which of the following factors contributed to the transition from the production era to the sales era?
Sophisticated production techniques
For-profit organizations and not-for-profit organizations often form _____.
Strategic alliances
Which of the following would be visible in relationship marketing?
Strategic alliances
Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach?
Target markets
Your technology company has decided to form a strategic alliance with a major technology company based in South Korea. Which of the following statements is TRUE about the characteristics, benefits and business aspects of a strategic alliance?
The alliance may help each company to develop anadvantage over its competition.
Which of the following statements concerning the global marketplace is true?
The global marketplace is growing because of trade agreements.
A firm with a fully developed marketing concept is one with a company-wide consumer orientation with the objective of achieving long-term success.
True
A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.
True
ARC Inc., a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol, demonstrating the socially responsible approach of the company.
True
According to relationship marketing, the lifetime value of a customer should exceed the investment made by the firm to attract and keep the customer.
True
An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs.
True
An organization creates a customer through a three-step approach: identifying needs in the marketplace, finding out which needs the organization can profitably serve, and developing goods and services to convert potential buyers into customers.
True
Company A provides a component to Company B, which then sells it under its own brand. This is an example of a vertical alliance.
True
Compared to transaction marketing, relationship marketing relies more heavily on information technologies.
True
Electronic commerce and computer technologies have created unprecedented opportunities in business today.
True
For-profit organizations tend to focus more on their customers than not-for-profits do.
True
In the past, firms have viewed their suppliers as adversaries against whom they must fiercely negotiate prices, playing one off against the other.
True
In the sales era, firms attempted to match their output to the potential number of customers who would want it.
True
Information technologies give organizations fast new ways to interact and develop long-term relationships with their customers and suppliers. Group of answer choices
True
Interactive marketing allows marketers and consumers to customize their communication.
True
Interactive marketing refers to buyer-seller communication in which the customer controls the amount and type of information received from a marketer.
True
Not-for-profit organizations are generally less concerned with the bottom line than for-profit organizations.
True
Not-for-profit organizations face complex decision-making issues about the correct markets to target as they often must market to multiple publics.
True
Not-for-profit organizations have numerous organizational objectives other than profitability due to their diversity.
True
On average, marketing expenses account for half of the costs involved in a product.
True
Product development partnerships and vertical alliances are two examples of strategic alliances.
True
Product-oriented rather than customer-oriented management endangers the future growth of an organization.
True
Production and marketing of goods and services are two basic functions that create utility.
True
Programs that improve customer service inside a company raise productivity and staff morale, resulting in better customer relationships outside the firm.
True
Relationship marketing tries to rebuild damaged relationships and rejuvenate unprofitable customers.
True
Social responsibility includes marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.
True
Sustainable products are products that can be produced, used, and disposed of with minimal impact on the environment.
True
The advent of a strong buyer's market created the need for consumer orientation by businesses.
True
The emergence of the marketing concept can be linked to the shift from a seller's market to a buyer's market.
True
The most obvious distinction between not-for-profit organizations and for-profit firms is the focus on generating revenues above and beyond the costs.
True
The private sector has an even greater array of not-for-profit organizations than the public sector.
True
Virtually all colleges and universities have alumni associations that publish magazines, hold reunions, and try to raise funds. These activities constitute organization marketing.
True
Wesley Pvt. Ltd., can avoid marketing myopia by finding innovative ways to reach new markets with existing goods and services.
True
Which of the following is an example of person marketing?
a mall being inaugurated by a popular commercial actor
Sally Myers, head of marketing at Sally's Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learned that all of them had acted upon the opinions of their friends and family members. What Sally encountered is an example of:
buzz marketing
Fred Foods Inc. provides free cereals and biscuits to support a program that aims to end hunger in various emerging nations. This is an example of _____ marketing. Group of answer choices
cause
Some Florida drivers have license plates that say "Save the Manatee." This is an example of _____ marketing.
cause
The business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them is known as:
consumer orientation
The Tour de Cure is a bicycle ride, not a race, to raise money for the American Diabetes Association and is held in 40 states nationwide. This is an example of:
event marketing.
Marketers have been forced to adopt a more global perspective with their strategies. Which of the following is a key factor in driving this change?
greater interdepndence of the world's economies
Both customers and companies are making extensive use of social media sites such as Facebook, Twitter, Pinterest and Instagram. These sites enable marketers to create and disseminate content and customers or followers may choose to engage with the organization thereby controlling their exposure to the information. This activity is termed _________ marketing.
interactive
The future growth of a company is endangered when management:
is committed to maintaining a product-oriented philosophy. PreviousNext
In the relationship era, firms focus on:
long-term relationships with customers and suppliers.
In not-for-profit organizations, _____ may interfere with the organization's marketing program.
major contributors
Nations Bank has engaged in extensive marketing research to learn more about its customers - especially those in the 18 to 30 age group. The research identified that these consumers do not enjoy visiting a bank branch location and prefer to manage their banking via their smart phone, tablet or computer. The bank has invested in sophisticated applications which enable consumers to deposit checks, check their balances, pay bills, and transfer funds. Nations Bank believes this investment in research to understand consumer needs enables them to develop the right array of services which will lead to improved market success and overall performance. This is an example of a(n):
marketing concept
Mobile marketing refers to:
marketing messages transmitted via wireless technology.
A buyer's market is characterized by:
more goods and services than buyers to buy them.
You just graduated from college with a degree in business. You are excited about beginning your professional career. To begin your job search, you are doing some soul searching to decide what type of company you want to work for. You have come up with the following list of characteristics that your ideal company would have:1. Your ideal company does not seek to maximize shareholder value.2. Your ideal company will be a service organization with a public mission.3. Your ideal company will consider marketing an essential function.4. Your ideal company will reinvest all its revenues into achieving the organization's objectives.Based on these characteristics, you should most appropriately pursue professional opportunities in a _____________ company.
non-profit
You just graduated from college with a degree in business. You are excited about beginning your professional career. To begin your job search, you are doing some soul searching to decide what type of company you want to work for. You have come up with the following list of characteristics that your ideal company would have: 1. Your ideal company does not seek to maximize shareholder value. 2. Your ideal company will be a service organization with a public mission. 3. Your ideal company will consider marketing an essential function. 4. Your ideal company will reinvest all its revenues into achieving the organization's objectives. Based on these characteristics, you should most appropriately pursue professional opportunities in a _____________ company.
non-profit
A service user of a not-for-profit organization has more control over the organization's destiny than customers of a profit-seeking firm.
False
You are the director of a health and wellness center which was successfully launched by using only marketing tools and techniques developed during the social era. Now that the business is established, the owner wants you to experiment with other approaches. Which of the following would respond correctly to her request?
- Creating a retail section in the center to sell workout clothes. -Offering discounts on dues and merchandise to long-term members.
In your recent performance review, you were advised to sharpen your skills in managing the facilitating functions of marketing. You will begin by paying extra attention to which of the following activities?
-Understanding government standards for grading and quality control. -Pursuing access to new sources of funds to finance inventories.
The newly elected president of a low-resourced, developing nation has hired marketing consultants to help his country. Realistically, what can he expect the marketers to do?
-improve the country's image to attract international investment -get insight into the needs & wants of citizens
Which of the following statements is true regarding marketing myopia?
A firm who focuses on product orientation endangers future growth
Which of the following is true regarding the marketing concept?
A firm's survival and growth are built into the marketing concept.
Which of the following refers to marketing myopia?
A management's failure to recognize the scope of its business PreviousNext
If a company such as J.B. Trucking wanted to avoid marketing myopia, it should define its business as:
A provider of transportation solutions
The basic objective of place marketing is to:
Attract visitors or new businesses to a particular area.
A(n) _____ occurs when there are more sellers (or products) than buyers.
Buyer's market
"Word-of-mouth" advertising that has grown in effectiveness with the advent of the Internet is called _____.
Buzz marketing
Phoebe was asked to bring a can of food for the local food bank as the "price of admission" for a certain ceremony. This is an example of _____.
Cause marketing
William Cutlery Inc. sells its products at its stores and via door-to-door sales. Selling, order taking, delivery, and limited customer service are all conducted by the drivers. Which two marketing functions overlap as a result of the drivers' required responsibilities?
Distribution and Exchange
The primary objective of a firm's social responsibility actions is to achieve_______________?
Enhancement of society
The moral standards of behavior expected by a society are known as _____.
Ethics
As an official sponsor of the Olympics, The Coca-Cola Company engages in _____ marketing.
Event
Austin, Texas is host to a popular festival, South by Southwest (SXSW) which recently celebrated its 30th anniversary. It has released dates for the new year and invites participants for the unique music, film, and interactive events or sessions from March 10th through 19th. Which category of nontraditional marketing would best characterize the marketing activities to attract attendees for the multi-day festival?
Event
The NBA Sacramento Kings play their home games in the Arco Arena. The naming of their stadium is an example of which one of the following five types of nontraditional marketing?
Event Marketing
The concert of a French rock band was promoted by a certain firm in the United States. This is an example of _____.
Event marketing
The _____ occurs when two or more parties exchange something of value.
Exchange process
Buyer-seller communications in which the customer controls the amount and type of information received from a marketer is called _____.
Interactive marketing
Which of the following holds true regarding relationship marketing?
It affects distributors as well as other types of corporate partnerships.
Which of the following is true of relationship marketing?
It believes in maintaining existing customers.
Which of the following is true of a company with strong market orientation?
It has a focus on new-product development and the introduction of innovative products.
The financing function of marketing involves:
Providing funds to buyers for building inventories prior to sales. PreviousNext
In the practice of relationship marketing, the definition of a customer is taken to another level. Which of the following best illustrates how a company practicing relationship marketing is different from a traditional transaction-based marketer?
The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing.
Buying and selling are:
The two exchange functions of marketing
An article titled, "Jeff Bezos Says Amazon is Seriously Serious about Drone Deliveries", recently appeared in a widely circulated business publication. Which of the following statements is true about this statement and its relationship to the Eight Universal Marketing Functions?
This statement relates to the physical distribution function of transporting.
_____ refers to buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties.
Transaction-based marketing
The want satisfying power of a product is its _____.
Utility
_____ are intermediaries that operate between producers and resellers.
Wholesalers
A corporate recruiter called you recently about a great marketing opportunity with a company headquartered in Miami, Florida. He did not give you the name of the company, but he described it as follows:1. Contributors of financial resources to the company sometimes try to influence the company's marketing to promote their own agenda.2. More than 25% of the U.S. adult population works in one or more of these types of companies.3. Earnings-per-share is not a major focus for this type of company.4. Marketing is very important to the success of this type of company.Which one of the following types of companies is the recruiter describing?
a not-for-profit company
According to the text, once a company's customers have become "loyal supporters", the company should seek to further the relationship with those customers so that they become _______.
advocates
An example of interactive marketing would be:
buyer-seller communication through the Internet and virtual reality kiosks.
Interactive marketing refers to:
buyer-seller communications in which the customer controls the amount and type of information received from a marketer. PreviousNext
When a company conducts a marketing research project, it is engaging in which one of the Eight Universal Marketing Functions?
buying
Which of the following forms the first half of the exchange process?
buying
Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire compared to existing customers.
existing; more expensive
Financing is one of the _____ functions of marketing.
facilitating
A seller's market is one in which there are more goods and services than people willing to buy them.
false
Buzz marketing excludes visual aspects as it does not consist of a tangible expression of an issue or position.
false
Firms that make the most efficient use of buzz marketing claim that it is a "one-way" approach to building customer relationships.
false
Marketing is the indirect connection between a firm and its customers.
false
The limitation of a strategic alliance is that it eliminates competitive advantage.
false
The relationship era builds on the marketing era's customer orientation by only focusing on maintaining relationships with customers.
false
Noel Pvt. Ltd. combines metal, rubber, and other components in the production of appliances. In doing so the company creates _____ utility.
form
When marketers apply quality control standards, they are:
reducing the need for purchasers to inspect each item they purchase.
Which of the following is a facilitating function of marketing?
standardization and grading
What are the subfunctions of physical distribution?
storing and transporting
Ethics are:
the moral standards of behavior expected by society
The emergence of the marketing concept can best be explained by:
the shift from a seller's market to a buyer's market.
Netflix has become a popular media streaming company and provides consumers the opportunity to view programming at their leisure whenever it's convenient for them. In addition, consumers can stream programming on smart TVs, tablets, computers or smart phones. What type of utility is Netflix offering?
time
Celebrities use person marketing as a way to increase their value in the marketplace.
true
In relationship marketing, employees serve customers within an organization as well as outside it.
true
Intermediaries that operate between producers and resellers are known as wholesalers.
true
It can be said that Glen Inc., a woolen products manufacturing company based in Switzerland, is a firm that uses a market-driven strategy because it produces goods based on local customers' experiences, needs, and preferences.
true
Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.
true
Relationship marketing moves customers up a loyalty ladder—from new customers to regular purchasers, then to loyal supporters of the firm and its goods and services, and finally to advocates who not only buy its products but recommend them to others.
true
The expanded concept of marketing activities permeates all functions in businesses and not-for-profit organizations.
true
Within a business environment, the marketing function is responsible for the creation of time, place, and ownership utility, whereas the production function creates form utility.
true
Edward Don & Company maintains over 12,000 food service and supply items for the hospitality industry as well as any organization that provides food service such as hospitals, schools, or prisons. Customers enjoy the opportunity to streamline their transactions by purchasing a large number of items from a single company. Customers may place orders online or order from their Edward Don sales representative. Edward Don purchases their items directly from the manufacturer and provides them to the business customer. What business function does Edward Don & Company provide?
wholesaling
Marketing myopia refers to management's failure to recognize the broad scope and nature of its business. This can be avoided if the firm adopts marketing oriented ideas and actions that are focused on satisfying customers by meeting their needs. A firm can convey its focus on customer needs and satisfaction with its company slogan.Which one of the following company slogans is least effective in conveying a focus on customer needs and satisfaction?
"CHC Moves the Industry That Moves the World"
Your boss, the CEO of a restaurant chain, is very bullish on nontraditional marketing. He has instructed you to implement some of his team's ideas in the next six months - but first, to flag any of the ideas that are inaccurate applications of nontraditional marketing. Which of the following should you flag?
-Implement place marketing by locating new restaurants in impoverished urban areas that need economic investment. -Implement organic marketing by switching to organic-certified ingredients.
Which one of the following statements about marketing is false?
Buzz marketing involves using airplanes to "buzz" outdoor events with flying banners.
Which of the following holds true when not-for-profit organizations are compared with for-profit organizations?
Not-for-profit organizations often possess some degree of monopoly power in a given geographical area.
Which of the following is a characteristic which distinguishes profit-oriented firms from non-profit organizations?
Profit-oriented businesses tend to focus their marketing activities on one public - their customers
It cost your firm a lot of money to sponsor a talk on relationship marketing by a so-called business guru. You feel the money was not well spent, because the speaker failed to discuss all key points. From the following list, choose the key point(s) about relationship marketing that should have been covered in the talk.
Relationship marketing broadens the scope of external marketing relationships. PreviousNext
When you first learn that your firm's new Chief Marketing Officer has announced a major push to collaborate with international suppliers, you are confused. In your last job, suppliers were viewed as adversaries who were always increasing their prices and driving up the company's costs. But in a podcast distributed to all employees, you feel the CMO effectively explains this move as part of a broader relationship marketing strategy. Which point(s) does she make?
She plans to use strategic alliances with suppliers to create competitive advantages.
When you first learn that your firm's new Chief Marketing Officer has announced a major push to collaborate with international suppliers, you are confused. In your last job, suppliers were viewed as adversaries who were always increasing their prices and driving up the company's costs. But in a podcast distributed to all employees, you feel the CMO effectively explains this move as part of a broader relationship marketing strategy. Which point(s) does she make?
She plans to use strategic alliances with suppliers to create competitive advantages.
You have worked in marketing for over twenty years, and you have seen the discipline and the environment it operates in change dramatically over that period of time. However, you believe the marketing environment in the 21st Century is changing at a pace faster than you have ever witnessed.Which of the following statements is TRUE about the marketing environment in the 21st Century?
The activities of the marketing organization must be broader in the 21st Century in order to avoid marketing myopia.
You have worked in marketing for over twenty years, and you have seen the discipline and the environment it operates in change dramatically over that period of time. However, you believe the marketing environment in the 21st Century is changing at a pace faster than you have ever witnessed. Which of the following statements is TRUE about the marketing environment in the 21st Century?
The activities of the marketing organization must be broader in the 21st century in order to avoid marketing myopia.
Which one of the following statements is true about past geopolitical events and the five eras in the history of marketing?
The marketing era was interrupted by World War II.
In this era of marketing, strategic alliances are (were) very important.
The relationship era
As a consultant, you help firms challenged by marketing myopia. One of your clients is a bakery that specializes in low fat cakes sweetened with organic fruit juice. To most effectively broaden their perspective, which of the following business ideas do you advise them to adopt?
We make a healthy lifestyle taste better.
Starbucks has continued to garner a large share of customer's wallets by expanding their product offering - including additional beverages such as beer and wine as well as an expanded food menu. Members of Starbucks rewards program can also obtain free downloads on music, games and other applications. Starbucks strategy clearly emphasizes that the stores are more than "just coffee" and have successfully managed to avoid ________.
marketing myopia
Which of the following is NOT part of the definition of marketing?
seek to solely satisfy the needs of the organization by earning a profit