Question 1

Southwest Air was the only airline in the U.S.that did not lose money in the year following the 9/11 terrorist attacks on the United States in 2001.This decision most likely reflects the company's _____________.

Accepted Answer

Southwest Air's ability to not lose money likely reflects its strategic approach to marketing (Big M), which involves a comprehensive understanding of market conditions, customer needs, and competitive positioning, allowing it to adapt effectively in challenging times.

Question 2

How does the American Marketing Association define marketing?

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Question 3

Give an example of an industry or firm that has transformed environmentally harmful products to environmentally friendly products.

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Question 4

Customer orientation must be understood by _____________.

Accepted Answer

Customer orientation should be understood and practiced by everyone in the organization, not just a select few departments or levels of management. It is important for employees at all levels to focus on meeting customer needs and exceeding their expectations in order to create a strong customer-centric culture within the organization.

Question 5

_______________ is an example a market-driving firm.

Accepted Answer

Apple, Microsoft, and Disney are all examples of market-driving firms. They all consistently innovate and create new products or services that drive consumer demand and shape the market. Apple is known for its revolutionary products like the iPhone and iPad, Microsoft for its Windows operating system and Office Suite, and Disney for its iconic movies and theme parks.

Question 6

What does "everyone in the firm owns marketing" mean?

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Question 7

How has the Internet empowered customers? Give an example.

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Question 8

Today many CEOs and shareholders expect to measure results of marketing efforts because ___________.

Accepted Answer

Marketing metrics today are designed to assign specific results to specific marketing programs, making it possible to measure the results of marketing efforts. While not all marketing may be measurable, the ability to track and analyze specific metrics has become increasingly available and important to businesses. Option B is incorrect because it is a sweeping generalization that doesn't necessarily reflect the reality of modern marketing measurement. Option C is incorrect because measuring results may not always be easy, and may require significant effort and investment in data analysis and technology. Option D is incorrect because option B is not accurate. Therefore, the best answer is A.

Question 9

How can a firm create marketing-driving strategies? Give an example.

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Question 10

Give an example of a brand to which you have an emotional attachment.What has the firm done to create that emotional appeal?

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Question 11

Discuss the difference in being market-driven and market-driving.Give examples of each.

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Question 12

All internal organizational practices should be aligned around ____.

Accepted Answer

The customer should be the central focus of all internal organizational practices in order to ensure that their needs and expectations are met. This will lead to customer satisfaction, loyalty, and ultimately, business success.

Question 13

Many companies today pay their advertising agencies based on how much sales or market share increase after a particular advertising campaign is executed.This most likely occurs because _____________.

Accepted Answer

All of the above options are valid reasons why companies today pay their advertising agencies based on how much sales or market share increase after a particular advertising campaign is executed. Marketing is viewed as an investment and effective planning requires metrics to measure the success of a campaign. There has also been an increased demand for marketing accountability by CEOs and shareholders, and the saying "if it can't be measured, it can't be managed" highlights the importance of having measurable metrics for advertising success.

Question 14

In order for Marketing (Big M)to succeed, it must be championed by __________.

Accepted Answer

Find somebody at the top of the firm to consistently champion this Marketing (Big M) business philosophy. The CEO is the most appropriate person for this role, perhaps manifest through the CMO (chief marketing officer).

Question 15

The long-term objective of strategic marketing is ____________.

Accepted Answer

The long-term objective of strategic marketing is profitability through building a customer-oriented organization. While customer satisfaction is important, it is not the only objective of strategic marketing. Understanding where the company will be in the future and studying the competition are important aspects of strategic marketing, but they are not the long-term objective. Getting ahead while doing well in society may be a company's aspiration, but it is not the primary objective of strategic marketing.

Question 16

State Farm Insurance offers products through a network of 16,000 independent agents.Assume that the company wants to launch a marketing campaign towards college students.Which marketing tactic would you recommend?

Accepted Answer

Setting up a MySpace contest to win gas money would be the most effective tactic to target college students. This is because college students are likely to use social media platforms and a contest would incentivize them to engage with the State Farm brand. Additionally, offering gas money as a prize is relevant to college students who often have to travel on a tight budget.

Question 17

Generational shifts impact marketing in terms of human resources.Older and younger generations may have _________________.

Accepted Answer

All of the above are true. Different generational groups may have differing attitudes towards work-life balance, with older generations prioritizing work over family and younger generations seeking a balance between the two. Additionally, expectations about job satisfaction and rewards may vary based on generational cohorts. Finally, preferred modes of learning and working may differ between generations, as younger cohorts may be more tech-savvy and value flexibility in their work arrangements. All of these factors impact how marketing firms recruit and retain employees.

Question 18

(Little m)marketing includes ____________.

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...

Question 19

Define societal marketing and give an example of a firm that practices it.

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Question 20

Identify marketing stakeholders.

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Quiz 1: Marketing in Todays Business Milieu