Marketing Management Connect assignment: chapter 1

Read the statements. Drag and drop each item into the correct spot within the chart.

Pre-Industrial Revolution -> XYZ Furniture Focus on Production and Products -> Toyota Focus on Selling -> Tupperware Advent of the Marketing Concept -> Walt Disney Post-Marketing Concept -> Blacksocks.com

Read the statements. Drag and drop each item into the correct spot within the chart.

Shift to product glut and customer shortage -> Blockbuster Shift in information power from market to customer -> Pharmaceutical companies Shift in generational values and preferences -> GenY consumers Shift to demanding return on marketing investment -> McKinsey & Company Shift to distinguishing Marketing (big M) from marketing (little m) -> Core Concepts

Which of the following best describes how Vosges handles the Place element of the four Ps?

Vosges sells its product through carefully-selected, high-end retailers, and also in its own boutiques.

Vosges' premium pricing and innovative flavors are sources of _______ for the company.

differentiation

Every time Andrea pays bills for her cell phone or car insurance, services that are important for her, she is practicing the central tenet of marketing called

exchange

"Little m" marketing is often referred to as strategic marketing.

false

Of all the business fields, marketing is the most visible to people outside the organization.

false

Gen Y consumers are much more receptive than their parents and grandparents to electronic commerce as a primary means of receiving marketing communication and purchasing. The marketing change driver represented by this is a shift

in generational values and preferences

When a company is focused on uncovering needs that customers do not realize they have, it is using a ________ strategy

market-driving

Though the change to the product was costly, both from a financial and time perspective, it should help Nike in the long term in terms of its relationship with several important stakeholder groups. Assuming that the change in this product is representative of a larger effort to ensure that the firm's products meet a certain environmental standard, the decision can be viewed as an example of

marketing (Big M)

Peter Drucker, the father of modern management, stated that the only business function(s) of an organization include

marketing and innovation

The unusual types of ingredients Vosges uses, as described in the video, are part of which element of the four Ps?

product

Vosges Haut-Chocolat creates value for customers by

providing a luxury experience for consumers through innovation.

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and advises the car owner when the next service date is anticipated. This dealership has adopted a ________ orientation.

relationship

By Nike changing the technology in its shoe, the company is taking on a role of being more socially responsible. What type of business practice is Nike partaking in as it incorporates doing well by doing good into its business model?

sustainability

A firm with a production orientation assumes that if you have a great product, customers will come to you.

true

Consider a consumer who is particularly concerned with the environmental impact products have when making a purchase. When Nike changes the product, assuming the price stays the same, what core marketing concept is Nike increasing in regards to that consumer?

value