Question 1

You are a manufacturer of tents,sleeping bags,and outdoor cooking equipment.How might you go about creating brand experiences for your customers?

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Question 2

In nineteenth- century Dublin,Molly Malone sold cockles and mussels while shouting to passers by,"alive- alive- oh." Was Molly taking an outside- in or inside- out perspective? Explain.

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Question 3

The marketing team at Bead Beautiful,a line of jewelry targeted at preteen girls,is meeting to formulate the products' value proposition.What should team members consider as they define a value proposition for Bead Beautiful?

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Question 4

Think about suppliers and other marketing partners.A modern marketing system relies on profitable relationships all along the way.How might Walmart rely on its marketing partners in order to offer low prices?

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Question 5

When demand for Beanie Babies was at its highest,manufacturers purposefully maintained strong demand by limiting supply,which drove the price of Beanie Babies up.Compare the actions of these manufacturers to the production concept.

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Question 6

Company X carries organizational and office supplies and follows the selling concept.Explain how Company X may lose sight of customer relationships with their marketing orientation.

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Question 7

To increase its "share of customer," a firm concentrates on retaining as many customers as possible over their lifetimes.

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Question 8

In what ways might even a local retailer find itself touched by global competition?

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Question 9

How can a marketer increase "share of customer"?

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Question 10

Value has different meanings to and is perceived differently by different consumers.

Accepted Answer

Value is subjective and depends on individual needs, preferences, and situations. Hence, it is perceived differently by different consumers.

Question 11

How is marketing being applied in the not- for- profit sector?

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Question 12

Able works in the marketing department of an international company.In what ways might Able use modern technologies to conduct market research in order to learn more about and better serve his company's customers?

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Question 13

Explain why electronics and pharmaceuticals manufacturers may use customer- driving marketing.

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Question 14

What determines whether sellers pursue basic relationships or full partnerships with customers?

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Question 15

Explain how storing customer information in a database might better prepare car- maker Saturn in customer relationship management (CRM).

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Question 16

Only sellers of products,services,and ideas practice marketing;buyers do not.

Accepted Answer

Buyers also practice marketing, as they make purchasing decisions based on their own needs and desires, and are influenced by marketing strategies and messaging from sellers.

Question 17

What should sellers consider if they wish to avoid marketing myopia?

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Question 18

Web 1.0 connected people with information,and Web 2.0 is connecting people to multifunction mobile devices.

Accepted Answer

Web 2.0 is connecting people to each other through social media and collaborative platforms, not just to mobile devices.

Question 19

Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.

Accepted Answer

Market segmentation is the process of dividing a market into smaller groups of consumers with distinct needs or characteristics, in order to better target and serve them. The goal is not to seek fewer customers, but rather to identify and understand different segments of the market in order to effectively cater to their specific needs and preferences. Profit maximization may be a desired outcome, but it is not the sole purpose of market segmentation.

Question 20

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

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Quiz 1: Marketing: Creating and Capturing Customer Value