Chapter 1 - Strategic Planning and the Marketing Management Process

Question 1

Marketing concept

Answer 1

an organization should seek to make a profit by serving the needs of customer groups

Question 2

Purpose of marketing concept

Answer 2

to rivet the attention of marketing managers on serving board classes of customer needs (customer orientation) , rather than on the firm’s current products (product orientation) or on diving methods to attract customers to current products (selling orientation).

Question 3

Effective marketing starts with?

Answer 3

recognition of customer needs and then works backward to devise products and services to satisfy these needs.

Question 4

Organizations should focus on building ____ customer relationships in which the initial sale is viewed as a beginning step in the process, not as an _____ .

Answer 4

long-term relationship; end goal

Question 5

What is the principal task of the marketing function operating under the marketing concept?

Answer 5

To find effective and efficient means of making the business do what suits the interests of customers.

Question 6

Effective marketing as defined by the text requires that consumer needs come _____ in organizational decision making.

Answer 6

first

Question 7

The American Marketing Association defines marketing as ___.

Answer 7

an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in was that benefit the organization and its stakeholders.

Question 8

Major types of marketing

Answer 8

product, service, person, place, cause, organization

Question 9

Product marketing

Answer 9

Marketing designed to crate exchanges for tangible products.

Question 10

Service marketing

Answer 10

Marketing designed to create exchanges for intangible products.

Question 11

Person marketing

Answer 11

Marketing designed to create favorable actions toward people.

Question 12

Cause marketing

Answer 12

marketing designed to create support for ideas, causes, or issues or to get people to change undesirable behaviors.

Question 13

Organization marketing

Answer 13

Marketing designed to attract donors, members, participants, or volunteers.

Question 14

Example of Product marketing

Answer 14

strategies to sell Gateway computers

Question 15

Example of Service marketing

Answer 15

strategies by Allstate to sell insurance

Question 16

Example of Person marketing

Answer 16

strategies to elect a political candidate

Question 17

Example of Cause marketing

Answer 17

strategies to get pregnant women not to drink alcohol

Question 18

Example of Organization marketing

Answer 18

strategies designed to attract blood donors

Question 19

Before ______ divisions or departments can implement any marketing planning, a plan has to be developed for the ____ organization.

Answer 19

individual; entire

Question 20

The _____ and the _____ established at the top level provide the context for planning in each of the divines and departments by divisional and departmental managers.

Answer 20

objectives; strategies

Question 21

The long-term value of loyal customers is ___ .

Answer 21

costs more to acquire new customers than to keep an old one, loyal customers buy more form your firm over time, the longer you keep a customer the more profitable they become over time, it costs less to service loyal customers than new customers, loyal customers are often excellence referrals for new business, loyal customers are often willing to pay more for the quality and value they desire.