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Exam 1: Marketing in Todays Business Milieu

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Question 31

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Bryan gets reduced fees for his daughter's piano lessons by maintaining her teacher's website.Bryan is practicing the central tenet of marketing called ____________.

A) Value
B) Exchange
C) Growth
D) Sustainability
E) Barter

F) A) and B)
G) C) and D)

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Question 32

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High pressure selling _____________.

A) Is practiced today by many companies
B) Has a marketing orientation
C) Sparked laws to protect consumers
D) Both is practiced today by many companies and sparked laws to protect consumers
E) None of these

F) A) and B)
G) C) and D)

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Question 33

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The way a firm looks at strategy and tactics is reflected in the ___________ change driver impacting the future of marketing.

Marketing misnomers occur because many people think of marketing as __________.

Communicating and delivering value focuses on _____________________.

Today companies have no choice but to be more open about their businesses and products because they can't stop chat rooms or bloggers or customer reviews.This is reflected in the ___________ change driver impacting the future of marketing.

A firm with a production orientation assumes that "if you build it,they will come." Value and exchange are not considered to be core marketing concepts.

Customer orientation must be understood by _____________.

Peter Drucker,the father of modern management,believed that marketing _____________.

Strategic marketing refers to deciding which media,distribution,or pricing tactics to use.

Marketing is relevant only to people in the organization that work directly in the marketing department.

_______________ uses(use) market-driving strategies.

Dell Computers employs one-to-one marketing by allowing a customer essentially to customize the product features that he or she desires.When Henry Ford said "People can have the Model T in any color-so long that it's black," he was reflecting a selling focus.

The American Marketing Association defines marketing as "the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large." Marketing is the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large.

Of all the business fields,marketing is most visible to people outside the organization.Peter Drucker stated that since it is the customer who defines value,the business enterprise has only two business functions: marketing and innovation.

Gen Yers tends to value relationships with marketers like State Farm Insurance in exactly the same way their parents do.

The most visible business function of the firm is ______,as demonstrated by a web page,good customer service,or a TV advertisement.

Generational shifts impact marketing in terms of human resources.Older and younger generations may have _________________.

Customer orientation and market orientation are opposing concepts.Customer-oriented firms look at customers as individuals and market-oriented firms look at the market as a whole.Relationship-oriented firms focus on short-term profitability.

Don Peppers and Martha Rogers popularized the term one-to-one marketing.Some firms come close to one-to-one marketing by combining flexible manufacturing with flexible marketing to enhance customer choices.