Chapter 1 Overview Of Marketing

Several factors differentiate between those companies that use a sales orientation and those that use a market orientation. One factor relates to how a company defines its business. Which of the following business definitions or mission statements best characterizes an organization pursuing a sales orientation?

American Express: we work hard every day to make American Express the world's most utilized credit card

Deon is VP of marketing with a major beverage company and is reviewing the contracts of several film, media, and television personalities who work with the company. Recently, two of them were involved in controversial activities concerning their political beliefs and have been quite vocal regarding several social justice issues. Deon is considering canceling their contracts because it is difficult to establish that their personal views are not the views of his company. Which exchange criteria most directly relates to Deon's cancellation of these sponsorships?

Each party believes it is appropriate or desirable to deal with the other party.

Pablo is considering a business major and asks his friend, Rachel (who is in advertising) about marketing careers. Which of the following represents something Rachel might say about why Pablo should study marketing?

Marketing offers outstanding career opportunities.

Jorge recently interviewed with a business machine company for a sales position marketing copiers and printers to businesses. He was surprised to find that the company's emphasis was purely on sales and using aggressive sales tactics to convince buyers to purchase its line of photocopiers and printers. Which of the following is true about this company related to its marketing management philosophy?

comp inward focus on selling what the organization makes

Christy has a dresser and desk that she'd like to sell for $50 each, so she posts a photo and description of both items on her Facebook page. She is contacted by Samad, who is willing to pay $40 each for the dresser and desk if Christy can deliver them. Christy cannot accept Samad's offer because she does not own a truck and therefore is unable to deliver the items. Which condition of exchange most directly relates to Christy's inability to deliver the items?

each party is capable of communication and delivery

Buckle retail outlet stores are typically located in major and regional indoor shopping centers. Buckle's products appeal to customers who enjoy dressing in the latest denim and casual fashion. The sales associates are trained to deliver a high level of customer service, offering suggestions on sizing, selection, and putting outfits together. In addition, associates assist with after-sale service and are able to handle returns and provide money back or store credit if a customer does not have their sales receipt. Thus, sales associates are _______ to do what's necessary to assure customer satisfaction and loyalty, since they have authority to solve customer problems on the spot.

empowered

Many restaurants such as Chili's encourage diners to complete a quick evaluation of their dining experience and identify how well the restaurant met their needs. Chili's is concerned with the facet of marketing that seeks to _______.

satisfy customers

Patagonia emphasizes its commitment to the environment and sustainability in its products by offering high levels of transparency, so consumers know where every product is made and how materials are sourced. In addition, Patagonia encourages its consumers to return or donate unwanted products, hoping to inspire consumers to be concerned with conservation efforts. Which marketing management philosophy best applies to Patagonia?

social marketing orientation

Many individuals and businesses use social media platforms such as Facebook, Instagram, and Pinterest to facilitate _______, which is the opportunity to satisfy a person's desire for a good or service through bartering, trade, or financial compensation.

exchange

Consumer packaged goods companies thrive in the marketplace in part by creating new products that meet the needs of its target markets. Hormel Foods has introduced several new ready-to-eat, quick meal, or snack options designed to be eaten on-the-go. In addition, these products satisfy hunger cravings, taste good, and help meet daily requirements for protein servings. Hormel Foods is most likely pursuing a _______ orientation as a marketing management philosophy.

market

Beverage companies such as Pepsi and Coca-Cola have recently come under scrutiny for the amount of sugar in their products and how this contributes to the high numbers of people in the United States who are obese. As a response to this negative attention, and because of Coca-Cola's desire to promote good nutrition and well-being, the company has changed its packaging and now offers smaller bottles and cans. In addition, Coca-Cola is committed to zero-waste initiatives and is using plant-based products and recyclable materials in its packaging. Which marketing management philosophy best applies to Coca-Cola?

societal marketing

BedJet manufactures and sells a heating and cooling system that can be attached to any bed, allowing those sleeping on the mattress to maintain a comfortable temperature, avoiding being too hot or too cold. The company developed its products based on insights from customers who were tired of night sweats or being too cold. BedJet products have been designed based on customer needs, such as its Dual Zone product that accommodates couples who may desire different sleeping temperatures. Which marketing management philosophy best describes BedJet?

market

Marketing activities enable consumers to become aware of products or services, and they hopefully provide the information necessary for each buyer to identify the one brand or model that will be most appropriate for them to purchase. Such marketing activities include promotion, advertising, and public relations, as well as supply chain activities to ensure products are available at retail outlets convenient to customers. Which of the following reasons to study marketing captures the various marketing activities described?

marketing plays an important role in society

Carmen recently did a Google search for recommendations on a fuel efficient, electric, or hybrid sedan, and she noticed that when she checked her Instagram and Pinterest updates, there were now pop-up advertisements for various brands of vehicles like those the Google search revealed. The information about Carmen that Google, Instagram, Pinterest, or her other social media accounts are utilizing to show her these advertisements is known as _______.

Big Data

Boxfit for Everyone is a locally owned fitness facility featuring cross training classes incorporating boxing drills. They offer group classes twice daily at 7 a.m. and 6 p.m. since those are the preferred times for their instructors, who also work full-time in professional jobs. Based on this information, which marketing management philosophy best describes Boxfit for Everyone?

Production orientation

Simon is a sales representative with McKesson who works with independent and chain drug stores to provide branded and private label over-the-counter medications, as well as a host of other supplies. Simon can match his customers' requirements to his broad product mix, and he also provides insights about what's selling in the marketplace so that store managers can make decisions about the allocation of shelf space. The approach is working, and Simon has been able to achieve his sales goals while also earning high customer satisfaction scores from his customer accounts. Which marketing management philosophy best applies to McKesson?

Market orientation

Fernanda is a marketing professional who majored in marketing in college. She often feels like she's a demanding customer when she visits a restaurant, retail outlet, or other business, because she critiques the service she receives and hopes to be treated in such a way as to be satisfied and feel valued as a customer. Which of the following reasons to study marketing captures Fernanda's customer expectations?

Marketing can be used in everyday life

There are many reasons why someone could benefit from studying marketing. Which one of the following statements relates to the activities of marketing and how marketing enables businesses to contribute to the objectives of growth, profitability, and survival?

Marketing is important to business.

Cristóbal recently purchased a new Ford F150 pickup truck and is now trying to sell his used truck with 180,000 miles on the odometer on eBay. He has created a listing including photos, and he decides to use eBay's "Buy It Now" feature rather than an auction. The truck has been listed for several weeks, but so far no one has contacted him about it. Which condition of exchange most directly relates to Cristóbal's eBay listing for his truck?

There must be at least two parties.

Many businesses today offer loyalty programs to customers, because gaining customers for life is a goal that enables firms to be more profitable. The Marriott hotel chain's loyalty programs are popular since customers can accumulate points that can be redeemed for upgrades or free room stays. Marriott also encourages members to complete their profiles by indicating the size of bed they prefer (double or king), type of pillow (foam or feather), handicap accessible needs, or other preferences. The profile information enables each hotel to utilize this information and provide the right type of room amenities for each guest. The loyalty program is an example of _______.

customer relationship management

Serge is a landscape architect who manages a team of 12 employees who work primarily on commercial landscaping projects. Serge is also responsible for purchasing equipment and landscaping materials, and he recently bought a new Bobcat skid steer machine. He prefers Bobcats even though they are more expensive, because the company provides a variety of add-on products that extend the usefulness of the skid steer, a great warranty, and a competitive price. Thus, Serge purchases the Bobcat due to its _______.

customer value

ExxonMobil has many different divisions and departments in its global operations, including public relations, publicity, pricing, supply chain, sales, and research and development. These groups work to ensure that all stakeholders are receiving the desired value and benefits from their relationship with the company. This example demonstrates that ExxonMobil has embraced the facet of marketing concerned with _______.

organizational functions and processes

Alliance Life Insurance promotes its term life insurance products through commissioned sales representatives, who use aggressive sales tactics to acquire new customers who make monthly premium payments. Alliance is driven to earn profits and instructs its sales representatives to sell, sell, sell, and it trains them that "Everyone needs life insurance." This highlights one of the key differences between sales-oriented firms and marketing-oriented firms, which is _______.

organs primary goal to achieve profitability through sales volume

Zion Pharma is the manufacturer of a prescription antibiotic and has been accused of using aggressive marketing tactics to increase sales. Zion Pharma has employed sales representatives who meet individually with a variety of physicians and pharmacists to encourage the prescribing of the brand, which is priced higher than similar medications. Based on this information, it is clear that Zion Pharma has embraced a _______ orientation as a marketing management philosophy.

sales

Huggies is a popular brand of diapers that offers a variety of sizes and styles to fit babies based on weight, gender, and activity, such as swim diapers. Huggies devotes significant resources to conduct market research to understand customer needs and to ensure that its diaper products meet the needs of the customer. Rather than make just one diaper formulation, the products are highly customized and appeal to each customer's unique situation. This highlights one of the key differences between sales-oriented firms and marketing-oriented firms, which is _______.

the organization's approach to marketing its products to specific customer segments rather than "everyone" or the average customer