Essay About Principles Of Marketing And Profitable Customer Relationships

Principles of Marketing Case
MKT 201: PRINCIPLES OF MARKETING [pic 1]Instructor :Dr. M. Haluk Koksal   QUIZ I (FALL- 2014)Wednesday, November 01. 2014              Time: 1:30 – 2:30 PM         [pic 2]General InstructionsTHIS EXAMINATION PAPER HAS 5 PAGES INCLUDING THE COVER PAGE.PLEASE COUNT THE NUMBER OF PAGES BEFORE YOUR BEGIN THE EXAM.NO ELECTRONIC DEVICES ARE ALLOWED IN THE EXAM ROOM. NO PAPER DICTIONARIES ARE ALLOWED.Student Name:           __________________________________Student ID:                __________________________________Please find the right answer and circle it. (3 P each)Marketing seeks to create and manage profitable customer relationships by delivering ________ to customers.competitive pricessuperior valuesuperior serviceproduct assortmentToday, marketing must be understood in terms of not just making a sale but also ________.satisfying customers’ needsunderstanding customers’ self-imagesadvertising brilliantlysuccessfully remaining in the marketThe five alternative concepts under which organizations conduct their marketing activities include the production, ________, selling, marketing, and societal marketing concepts.promotionpricingdistributionproductThe societal marketing concept seeks to establish a balance between consumer short-run wants and society’s ________.short-run costs and profitsshort-run ethicslong-run welfarehealthThrough their marketing offerings, marketers demonstrate they understand ________.consumer needs and wantsproduct benefitscompetitors’ actionsthe global marketplaceAt the corporate level, a company starts the strategic planning process by defining its overall purpose and ________.missionvaluesopinionsstrengthsThe principle objective of a market-oriented mission statement is to ________. satisfy basic customer needssatisfy basic supplier needssatisfy basic stockholder needssatisfy basic owner needsThe BCG market growth rate provides a measure of ________.company strength in the marketdecline of competitorsmarket attractivenessthe unit stock valueA common practice among marketers is to increase sales to current customers without changing their products. What is this practice called?market skimmingmarket penetrationmarket developmentproduct extensionMarketing plays a key role in a company’s strategic planning. Which of the following does marketing provide?guiding philosophyinputsstrategiesobjectivesPioneer Dried Foods works hard to link each of its company departments to accomplish its goals in what is called a company ________.value chainvalue-delivery networkchannel of distributionnetworkingToday the four Ps are compared to the four Cs. Product and place are called ________ and ________, respectively.convenience; customer solutioncustomer cost; conveniencecommunication; customer solutioncustomer solution; convenienceMission statements should be ________.market orientedtechnology orientedgrowth orientedprofit orientedBanks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________. financial intermediariesphysical distribution firmsmarketing service agenciesresellersYour advertising agency is currently researching the gender, education, location, age, and occupations of your target market. What is this environment called? demographicpsychographicgeographicproduct-useThe natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.raw material marketnatural environmentendangered environmentfactors of production When a customer is satisfied, it means that a product’s performance ________ his or her expectations.exceedsredefinesfalls short oflives up to________ means managing markets to bring about profitable exchange relationships by creating value and satisfying needs and wants.SellingPromotingMarketingMarket segmentationSuccessful organizations base their missions on their ________.distinctive competenciesstrategic plansvalue statementsvalue propositions_________is the approach that companies classify their businesses based upon?most profitable unitsgrowth-share matrixcustomer retentioncost benefitsII- Answer the two the following questions (20 points each)Write down and explain how companies respond to the changes in the marketing environment. 22- Write down and explain the forces or developments affecting the changing marketing landscape.