Question 1

List the activities that marketers must perform in order to create the customers organizations want.

Accepted Answer

The answer of List the activities that marketers must perform...

Question 2

Define lifetime value of a customer. How has Apple Computer, with the development of the iPod product line and iTunes software, gained a competitive advantage over competitors such as Napster? Will Apple experience a higher or lower lifetime value of a customer and why?

Accepted Answer

The answer of Define lifetime value of a customer. How...

Question 3

Washquik Corporation recalled 200,000 washing machines that were experiencing motor problems. Upon repair of a machine, service technicians were instructed to leave a box of BioClean, a new environmentally friendly detergent offered by a partner company, BioCare. The actions of Washquik show both an ethical and socially responsible approach to servicing customers.

Accepted Answer

Washquik's recall of defective products demonstrates a commitment to customer safety and satisfaction, which is ethically responsible. Providing a free, environmentally friendly product shows social responsibility by promoting sustainability and partnering with a company that shares similar values.

Question 4

Electronic commerce and computer technologies have created unprecedented opportunities in business today.

Accepted Answer

Electronic commerce and computer technologies have revolutionized the business world, providing new ways for companies to connect with customers, expand their reach, and increase efficiency.

Question 5

ARC Inc., a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol, demonstrating the socially responsible approach of the company.

Accepted Answer

The statement clearly mentions that ARC Inc. has expanded its business to recycle liquids and turn them into fuel-grade ethanol, which showcases the socially responsible approach of the company.

Question 6

What is the major difference between the sales era and marketing era?

Accepted Answer

The answer of What is the major difference between the...

Question 7

Sustainable products are products that can be produced, used, and disposed of with minimal impact on the environment.

Accepted Answer

Sustainable products are designed and manufactured in a way that reduces negative impacts on the environment throughout their entire life cycle, from production to disposal. They are often made with renewable or recycled materials, use less energy or water during production, and can be reused or recycled at the end of their useful life.

Question 8

Compare the purchase of an AM/FM clock radio with the purchase of a satellite radio. Describe the creation of utility from the perspective of the manufacturer and marketer. Describe the utility relationship between the customer and the marketer.

Accepted Answer

The answer of Compare the purchase of an AM/FM clock...

Question 9

List the five eras in marketing history in chronological order. Briefly describe the philosophy behind each era.

Accepted Answer

The answer of List the five eras in marketing history...

Question 10

Timberland Company's charitable donations and time off given to employees who volunteer are evidence of its social responsibility.

Accepted Answer

Timberland Company's charitable donations and the provision of time off for employees to volunteer demonstrate its commitment to social responsibility by actively contributing to societal welfare and encouraging its workforce to engage in community service.

Question 11

Social responsibility includes marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.

Accepted Answer

Social responsibility involves the use of sustainable and ethical practices to benefit society and the environment. This includes incorporating these practices into various areas of a business, such as marketing strategies, policies, and actions.

Question 12

Explain the concept of marketing. What are some common misconceptions about marketing?

Accepted Answer

The answer of Explain the concept of marketing. What are...

Question 13

List and describe the five types of nontraditional marketing. Give an example of each.

Accepted Answer

The answer of List and describe the five types of...

Question 14

Define utility and discuss the four types of utility. Give examples of each, and explain which functional areas within an organization are responsible for each one.

Accepted Answer

The answer of Define utility and discuss the four types...

Question 15

Liquid Resources, a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol. The decision to take the company in a new direction is most likely based on ethics.

Accepted Answer

The decision to expand into recycling liquids for fuel-grade ethanol is more likely based on business strategy, sustainability goals, or market demand rather than ethics alone.

Question 16

Define marketing myopia, and describe how a company can overcome a myopic view. Give an example of a company before and after changing its view.

Accepted Answer

The answer of Define marketing myopia, and describe how a...

Question 17

Explain the essence of marketing.

Accepted Answer

The answer of Explain the essence of marketing....

Question 18

While social responsibility varies from country to country, ethical behaviour is the same everywhere.

Accepted Answer

Ethical behavior can vary significantly across different cultures and societies, as what is considered ethical in one culture may not be in another. Cultural norms, values, and laws influence perceptions of ethical behavior.

Question 19

Explain the need for and the role of marketing in not-for-profit organizations?

Accepted Answer

The answer of Explain the need for and the role...

Question 20

Less than one-quarter of all major corporations offer ethics training to employees.

Accepted Answer

Most major corporations offer ethics training to their employees as part of their compliance programs and corporate responsibility initiatives. This training is designed to ensure that employees understand the company's values, legal requirements, and ethical standards.

Quiz 1: Marketing: the Art and Science of Satisfying Customers