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Exam 1: An Overview of Marketing

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Question 21

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At www.mystarbucksidea.com customers are encouraged to share their ideas and thoughts about how Starbucks can better serve their customers.Starbucks customers told management that they wanted to be recognized for choosing Starbucks coffee.So Starbucks instituted the Starbucks Reward program with money saving benefits to their Starbuck card-holders.Starbucks is an example of a company with a _____ oriented philosophy.

A) transactional
B) sales
C) product
D) societal
E) market

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Question 22

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Explain the marketing concept and market orientation. What three requirements are necessary to implement a market orientation?

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The philosophy of the marketing concept ...

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Question 23

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Companies that rely on the marketing concept and that have implemented a market orientation strategy recognize that:

When customer expectations regarding product quality,service quality,and value-based price are met or exceeded,_____ is created.

Toyota found that consumers wanted cars to last longer and be more environmentally friendly.GM,however,enjoyed being the top U.S.car producer,and focused more on how many cars and trucks it could manufacture and not on what customers wanted from a vehicle.GM had more of a _____ orientation.

Which of the following statements about the societal orientation is FALSE?

The concept of exchange is important to marketing because:

Discuss the elements needed to implement successful relationship marketing strategies.

Xerox emphasizes _____ by replacing at its own expense any dissatisfied customer's equipment within a period of three years after purchase.

The sales and market orientations differ on all of the following characteristics EXCEPT:

What is the marketing concept? According to the marketing concept,what determines if a sale will actually occur?

Ninety-six percent of USAA home insurance policy holders report that USAA representatives meets their commitment in calling back customers quickly about claims.The most likely result of USAA's efforts is:

What is customer value? What are the six ways marketers can make sure customers perceive their companies/products as sources of value?

At the Lands End web site a customer can chat on-line with customer service representatives while shopping.This live help allows customers to have questions answered before placing an order.This focus on meeting customer needs illustrate a(n) _____ orientation.

According to the American Marketing Association,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.

Starbucks Loyalty Rewards The First Starbucks opened in 1970 in Seattle Washington. The demand for its coffee grew and Starbucks added more than 6,000 stores located in over 30 countries. In its more than 30 year history, Starbucks has never given out coupons for its coffee. Starbucks had only to make its coffee and customers came. Recently consumer quality perception of the Starbucks brand has started to fall. Starbucks started a consumer-response blog to learn more about what consumers expect from Starbucks. One of the most requests was for a customer rewards program. In response Starbucks has started the Starbuckscard rewards which offers free refills on brewed coffee, free beverage with whole bean purchase, beverage customization and free Wi-Fi. Starbucks also put coupons in a national newspaper for those consumers who love coupons and created a new brew of coffee for those who prefer a milder coffee taste. Starbucks is hoping with these improvements will restore customers' loyalty and confidence. -Refer to Starbucks.The creation of a consumer-response blog is an example of _____.

What is the fundamental objective of most businesses?

Chaz loves to play a Disney online pirate game in which he gets to create a pirate by choosing hair-color,skin-color,clothing,and physical features.Then he gets to choose from a variety of quests and can sail a ship,dig for treasure,fight skeleton pirates,or fight the British Navy.This game provides what element of value?

The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

All of the following are necessary for exchange to occur EXCEPT: