Harran University - Yeniehir Campus

MGT 201 201

Chapter 1The Meaning of Marketing

1)_is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers.

2. A company achieves                    for itself by creating value for customers.

3. A for-profit firm delivers                    in exchange for money from consumers.

4. According to your text, modern marketing has its roots in all BUT which of the following?

5. Which of the following is the satisfaction received from owning or consuming a product or service?

6. Which of the following is most likely to happen when a consumer does not perceive that a product has utility?

7.                     are necessities to meet urgent requirements.

8.                     are desires for things that are not essential.

9.                     is an individual's financial capacity to buy what she wants.

10. A                     is a promise to deliver to a consumer specific benefits associated with a product or service.

11. Which of the following groups is the ultimate judge of a product's utility?

12. A firm can use marketing to attempt to transform a(n)            into a perceived need for the firm's product or service.

13. If a brand creates a perception of greater value through effective marketing, which of the following will be the most likely result?

14.                     are items that are used or consumed for personal use.

15.                     are items that are used and not retained by a consumer.

16. An organization that wants to encourage more tourist visits to a certain location is most likely to use which type of marketing?

17. A marketer who first identifies consumer needs and then creates value by providing products that satisfy those needs is practicing the   .

18. A (n)                     is created when a customer and business have ongoing interactions through the sales of a product or service.

19. Enabling meaningful, personalized communication between a business and its customers is most essential to which of the following?

20. Which of the following is most closely associated with customer relationship management?

21. When a company calculates                , the company looks at how much profit it expects to make from a particular customer, including each purchase he will make from the company now and in the future.

22. When a company practices the marketing concept,            serve as the foundation for marketing activities.

23. L.L. Bean refers to the customer as "the most important person ever in this office." This attitude toward the customer is most closely associated with which of the following?

24. Businesses use the marketing concept when they focus on         .

25. Advertisements for products and services began appearing in American newspapers during the    .

26. Sales opportunities in the United States expanded most notably during which of the following time periods?

27. Which of the following marketing orientations focuses primarily on improving efficiencies?

28. Which marketing orientation focuses on creating demand and moving product inventory?

29. Which of the following marketing orientations was prevalent during the years of the Great Depression?

30. A                     orientation is a marketing philosophy that focuses on ways to satisfy customers' unmet needs and wants.

31. A business using a relationship orientation focuses on creating value-added relationships with     .

32. A company that focuses on building value-added relationships is most likely to place the highest value on which of the following?

33. Which marketing orientation holds that firms should consider society as a whole as a stakeholder?

34. During which of the following time periods were an increased focus on social responsibility in business most significant?

35. AMA stands for                  .

36. A company's process of creating value occurs               the selling process.

37. Which of the following is one of the three main categories of marketing functions?

38. Risk-taking and the promise of servicing a product after purchase are examples of         functions.

39. Assembling and packaging are examples of               functions.

40. Selling and pricing are examples of                 functions.

41. Which of the following is NOT one of an organization's internal marketing participants?

42. Establishing a product portfolio, determining pricing, establishing distribution channels, and creating promotions are all core

                    functions.

43. Which of the following functions is a marketing department LEAST likely to perform?

44. The Four Ps are                  .

45. The set of marketing variables a firm uses to achieve its desired sales performance is called the      .

46. Which of the following is NOT one of a company's external marketing participants?

47.                     can influence a company's marketing decision by writing letters to management and attending shareholder meetings.

48.                     influence marketing by favorably presenting a company's products and services through the creation and placement of media content.

49. A customer shopping at a clothing store is also a(n)              of the store.

50. A successful business is most likely to view its marketing department as          .

51. Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of      .

52. Gretchen is in the process of deciding which new car to buy. In comparing the miles per gallon, luxury features, safety features, and style of three different models, Gretchen is considering each car's              .

53. Which of the following is an example of a need?

54. Which of the following is the best example of a want?

55. Which of the following is the best example of a service?

56. Which of the following most closely reflects the marketing concept?

57. Amaya works in the marketing department of a national clothing retailer. Amaya's job involves identifying customers who are most likely to generate profits for her company and communicating with those customers in meaningful ways that will encourage them to shop in her company's stores more frequently and to purchase more items during each visit to the store. Amaya's job focuses on       .

58. Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he continues to live in the store's area. Stew Leonard's concern is an illustration of which of the following?

59. Henry Ford's philosophy was to improve the efficiencies of assembling each Model-T automobile so that its cost could be reduced further for increased consumer affordability. This reflects the              orientation.

60. Some fast-food restaurants offer tasty and convenient food that customers want at affordable prices, but in doing so, they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook                                                                                                                                                                                                           .

61. Ken works in his company's warehouse, where he makes sure that the correct shipments are delivered to the company's vendors on time. In his job, Ken is fulfilling the          marketing function.

62. Which of the following is an example of the exchange marketing function?

Refer to the scenario below to answer the following questions.

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round

resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"

So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick?to be implemented from early winter to late spring?that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers, both satisfied repeat guests and new guests who had been snagged by her promotional appeals.

"We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend getaways throughout winter."

63. Carol used a seasonal promotional gimmick to reach which target market?

64. Carol Veldt's use of "promotional gimmicks" is an example of the             orientation.

65. Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their most desired amenities and vacation experiences. By implementing the suggestions she receives from guests, Carol would be following the               .

66. Consumers are likely to unknowingly follow processes when making purchase decisions.

67. The idea of utility is borrowed from the study of psychology.

68. Marketing is limited to physical products.

69. Under the marketing concept, marketing and selling are synonymous.

70. The sales orientation holds that consumers will not buy enough of a company's product unless the company undertakes advertising and selling efforts.

71. A business that practices, social responsibility focuses on following high ethical standards and improving society rather than generating profits.

72. A company that develops green marketing products is displaying a concern for social responsibility.

73. According to management guru Peter Drucker, the two basic functions of a business are advertising and sales.

74. Only the marketing department is responsible for executing the marketing functions for a company.

75. The marketing mix includes production, price, promotion, and packaging; this is known as the four Ps of marketing.

76. Other departments within a business are internal marketing stakeholders.

77. External marketing participants are not considered marketing stakeholders.

78. A company's customers are typically not able to influence the company's marketing decisions.

79. The marketing department within an organization relies entirely upon internal resources to develop the information needed to make marketing decisions.

80. One of a company's many external marketing participants is the government.

81. One difference between needs and wants is that needs are not influenced by marketers.

82. Automobiles, haircuts, tutoring, and lighting fixtures are all examples of tangible products.

83. Geoff is a brand manager for a line of hair styling products. He makes decisions about how and when to advertise the products. Geoff fulfills a facilitating marketing function.

84. Briefly explain the following statement: "Everyone has some experience with marketing."

85. How does utility affect the demand for a product?

86. Briefly explain the difference between a need and a perceived need.

87. How is marketing being applied in the not-for-profit sector?

88. Company X carries organizational and office supplies and follows the sales orientation. Explain how Company X may lose sight of customer relationships.

89. Explain how a company that practices social responsibility views the relationship between generating profits and being socially responsible.

90. Identify three issues that a socially responsible company might consider when addressing concerns about how its products affect the global environment.

91. Explain what management guru Peter Drucker meant when he said, "Marketing is the distinguishing, unique function of the business."

92. Give an example of how a customer might influence a company's marketing decisions.

93. Explain how the government may influence a company's marketing decisions.

94. Understanding marketing requires a familiarity with many disciplines, activities, and strategies. Identify several of these areas.

95. Explain the concept of utility in marketing and how consumers are involved in determining utility.

96. Briefly compare and contrast the concepts of needs, wants, and demand, giving an example of each. Discuss how these concepts relate to marketing practices.

97. Explain the difference between products and services, and give an example of each.

98. Identify and describe three major marketing orientations in the last century.

99. Briefly explain the idea of social responsibility in marketing. Give an example of how an organization might practice social responsibility.

100. Describe the three main marketing functions and give an example of each.