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Exam 1: An Overview of Strategic Marketing

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Question 91

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Organizations should define themselves not according to the products they produce but according to

A) how profitable they are.
B) the price of their stock.
C) the abundance of their product selection.
D) how they treat employees.
E) how they satisfy customers.

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Question 92

Multiple Choice

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Wonder introduced a new bread made with light whole wheat and packaged in smaller loaves as a response to the number of health-conscious customers who live alone. In this case, Wonder was most likely following the ________.

A) selling concept
B) production concept
C) marketing concept
D) customer concept
E) retailing concept

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Question 93

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Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

During the Industrial Revolution demand for manufactured goods was

A market orientation is an organization-wide effort that includes all of the following activities except

Customers are the focal point of all marketing activities.

The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

Scenario 1.1 Use the following to answer the questions. Greensprings Cemetery in upstate New York offers a full service funeral and burial that is nontoxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business and are active conservationists. They wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative for other environmentally-conscious Americans like themselves. Refer to Scenario 1.1. Greensprings' competitors, the traditional cemeteries, focus on advertising and personal selling of their services. This indicates a(n) ____ orientation.

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

The three basic forms that a product can take are

Which of the following is true about the marketing environment?

You will give the keynote address at the annual meeting of the American Manufacturing Association. You realize most of the attendees think marketing is just advertising. So, you decide to start your keynote address by defining what marketing is in order to set the proper context for your speech. You define marketing as:

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

The primary value that a marketer expects to receive from a customer in an exchange relationship is

Scenario 1.1 Use the following to answer the questions. Greensprings Cemetery in upstate New York offers a full service funeral and burial that is nontoxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business and are active conservationists. They wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative for other environmentally-conscious Americans like themselves. Refer to Scenario 1.1. A new website has helped Greensprings' pre-planned funeral business grow. This would come under which of the following marketing mix variables?

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept? Technological advancement

Relationship marketing focuses on satisfying customers to generate the most profit.

For an exchange to occur, at least one of the parties must be willing to give up his or her "something of value."