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Exam 1: Overview of Marketing

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Question 21

Multiple Choice

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Marketing channel management is related to which of the four Ps?

A) Product
B) Price
C) Place
D) Promotion
E) Production

F) B) and E)
G) D) and E)

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Question 22

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The goal of customer relationship management is to

A) manage every customer relationship differently.
B) manage every customer relationship to maximum short-term profitability.
C) eliminate customers who are profitable,but not highly profitable.
D) identify and build loyalty among a firm's customers.
E) generate relationships with all of a firm's customers.

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

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Question 23

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Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students.These bulletin boards increase __________ marketing.

The process of value __________,in which customers collaborate in product design,often provides additional value to the firm's customers.

Good marketing is not a random activity.

Suppose you worked at a restaurant near campus,one that was popular with students,and the manager asked you to explain how the restaurant might benefit from using location-based social media tools.How would you answer?

Delivering the value proposition is also known as

Some discount stores put products in large bins and let consumers hunt and find bargains.The price these consumers pay includes

A friend of yours comments,"I'm starting my own business.I have a perfect product that no one else can touch,but I have no use for marketing.That's just for the mega-corporations." Which of the following arguments would you NOT use in talking about marketing?

Entrereneurial companies are unable to control their marketing mixes.

When an accounting firm provides an online training module showcasing real-life decision lapses and their negative effect on the company,it is trying to encourage what type of behavior from its employees?

People who initiate,organize,operate,and assume the risk of a business venture are called

Of primary interest to marketers are __________ buyers.

As your first assignment in an advertising agency,your manager asks you to come up with messages for three billboards promoting the university you attended.The manager wants one ad for each of the three types of promotion objectives.Create an example of one sentence billboard advertising message for each objective.

What are the four Ps of marketing? Give an example of each.

As owner of a retail franchise food store,Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system.One Monday,she was surprised to find customers asking for specials she hadn't been informed of in advance.The franchise company failed to live up to the value-driven principle of

In the past,manufacturer's representatives did not have up-to-minute data about the products they were selling.Today,manufacturer's representatives are often provided online access to inventory data for the companies they represent.These online inventory systems allow companies to become more value-driven through

The text states,"Good marketing is not a random activity." Create an example to respond to this statement.

Garage sales and online classified ads are examples of C2C marketing.

UPS,FedEx,DHL,and other shipping companies support other firms' __________ marketing goals.