Chapter 1

Question 1

def. marketing

Answer 1

he activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large

Question 2

The Four Requirements for Marketing to Occur

Answer 2

Two or More Parties with Unsatisfied Needs‣Desire and Ability to Satisfy These Needs‣A Way for the Parties to Communicate‣Something to Exchange

Question 3

What is a Market?

Answer 3

ltimately, the people, but also organizations with a desire to buy.

Question 4

Social Marketing

Answer 4

Marketing cause and programs designed to influence the behaviour of individuals and benefit the society as a whole, but not the marketer.

Question 5

Who Benefits from marketing?

Answer 5

Buyers (Customers) and Society

Question 6

What is marketing?

Answer 6

According to the American Marketing Association, “marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Question 7

Marketing focuses on ___________ and __________ prospective customers’________

Answer 7

1. discovering
2. satisfying
3. needs, wants and experiences

Question 8

Marketing’s first objective is

Answer 8

Discovering Consumer Needs

Question 9

Marketing’s Second Task

Answer 9

satisfying consumer needs

Question 10

what are controllable marketing mix factors

Answer 10

price, products, promotion, place

Question 11

what are uncontrollable marketing mix factors

Answer 11

environmental factors

Question 12

what is a market

Answer 12

A market is people with the desire and with the ability to buy a specific product.

Question 13

six different orientations in the hx of North American Business – 6 Eras

Answer 13

1. production Era (1860-1930
2. Sales Era(1920-1940
3. Marketing Concept (1950-1970
4. Market orientation (1980- prest
5. customer experience management (2000-prest)
6. social media marketing era (2005-2020)

Question 14

volution of North American Business – 6 Eras

Answer 14

1. production Era
2. Sales Era
3. Marketing Concept
4. Market orientation

Question 15

Marketing concept is the idea that an organization should (2)

Answer 15

Strive to satisfy needs and wants of consumersb)While trying to achieve the organization’s goals.

Question 16

Market Orientation:means a firm should focus its effords on (3)

Answer 16

Continuously collecting information about customers’needs and competitors’ capabilities, b)Sharing this information across departments, and c)Using the information to create customer value.

Question 17

customer value

Answer 17

unique combination of benefits received, including quality, price, convenience, delivery and both the before-sale and after-sale services

Question 18

customer satisfaction =

Answer 18

the match between customer expectation and product’s actual performance

Question 19

customer relationship management

Answer 19

the process to build and develop a long-term relation by delivering value and satisfaction to customers

the process of identifying prospective buyers, understanding them intimately, and developing long-term perceptions of the organization and its offering

Question 20

customer relationship management

Answer 20

the process to build and develop a long-term relation by delivering value and satisfaction to customers

Question 21

CLV

Answer 21

customer lifetime value

Question 22

customer lifetime value

Answer 22

the profits generated from customer’s purchase of the org’s products and services over the customer’s life time

Question 23

CEM

Answer 23

customer experience management

Question 24

CEM

Answer 24

customer experience management

Question 25

Customer Experience Management Era

Answer 25

hemeans of managing the customers interaction with the organization at all touch-points.

The overall experience is more important than the product experience alone to remain loyal to the organization.

Question 26

Social Media Marketing

Answer 26

Customer generated on-line marketing efforts to promote products and brands to their favorites (fan’s) and negatively impact others of which they are not a fan‣

the use by marketers of online tools and platforms to promote their brands or organizations

Question 27

Social Media Marketing

Answer 27

Customer generated on-line marketing efforts to promote products and brands to their favorites (fan’s) and negatively impact others of which they are not a fan‣

Question 28

the social responsibility in societal marketing concept

Answer 28

rg’s need to discover needs and satify them in ways the also improves the society’s well-being‣

Question 29

the social responsibility in macromarketing

Answer 29

Looking at the aggregate flow of nation’s goods and services to benefit the society

Question 30

the social responsibility in macromarketing

Answer 30

Looking at the aggregate flow of nation’s goods and services to benefit the society

Question 31

the social responsibility in micromarketing

Answer 31

Org’s directing its marketing activities and allocating its resources to benefit its customers

Question 32

he match between customer expectations of the product and the product’s actual performance is called

Answer 32

customer satisfaction

Question 33

he process of building and developing long-term relationships with customers by delivering customer value and satisfaction is called

Answer 33

Customer Relationship Management (CRM)

Question 34

Some Canadian companies are now transitioning from the market orientation era to the _

Answer 34

Customer Experience Management Era

Question 35

Market mix

Answer 35

he marketing mix is product, price, promotion, and place.

Question 36

.eCRM

Answer 36

‣A Web-centric, personalized approach to managing long-term customer relationships electronically

Question 37

Organizational Buyers

Answer 37

the units such as manufacturers, retailers, or government agencies that buy goods and services for their own use or for resale

Question 38

who are the ultimate consumers

Answer 38

he people who use the goods and services purchased for a household

Question 39

Societal Marketing Concep

Answer 39

he view that an organization should discover and satisfy the needs of its consumer in a way that also provides for society’s well-being.

Question 40

Green Marketing

Answer 40

arketing efforts to produce, promote, and reclaim environmentally sensitive products