Question 1

Briefly compare and contrast the concepts of needs,wants,and demands,giving an example of each.Discuss how these concepts relate to marketing practices.

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Question 2

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 3

An experience such as a vacation can be defined as a market offering.

Accepted Answer

A vacation can be classified as a market offering because it is a product or service that is available in the market and is designed to meet the needs and demands of customers. It is available for purchase and is marketed to a specific target audience.

Question 4

The production concept and product concept are orientations that are more likely to lead to marketing myopia than the marketing concept and the societal marketing concept are.

Accepted Answer

The production and product concepts focus primarily on the product and often overlook the needs and wants of customers, which can lead to marketing myopia. The marketing and societal marketing concepts, on the other hand, prioritize the needs and wants of customers and society, which can lead to a more successful and sustainable marketing strategy.

Question 5

You are a manufacturer of bicycles and bicycle accessories.How might you go about creating brand experiences for your customers?

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Question 6

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies.

Accepted Answer

New communication technologies such as social media and email allow for large-scale marketing approaches that enable businesses to engage in two-way communication with their customers, fostering relationships and building trust.

Question 7

Explain how the Internet has transformed the way in which we do business today.

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Question 8

Fast Food,Inc.views marketing as the science and art of finding,retaining,and growing profitable customers by providing them with the food they want.Fast Food,Inc.practices societal marketing.

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Question 9

In a short essay,describe and compare the four types of customers classified by their potential profitability to an organization.Explain how an organization should manage each type of customer.

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Question 10

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

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Question 11

Define Customer Relationship Management and explain its associated tools and levels of relationships.

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Question 12

Define customer equity and explain how a company can increase it.

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Question 13

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 14

In a short essay,discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

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Question 15

In a short essay,explain how and why marketers go beyond selling a product or service to create brand experiences.

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Question 16

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

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Question 17

Amy's law office has developed a new format and wording for wills.The staff believes they offer the most in quality,performance,and innovative features.Her law office is practicing the production concept.

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Question 18

Compare the selling and marketing concepts,listing the key components of each philosophy.

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Question 19

Sometimes when demand for a product is at its highest,the manufacturer purposefully maintains strong demand by limiting supply,which drives the price of the product up.Compare the actions of such a manufacturer to the production concept.

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Question 20

Explain why the aim of customer relationship management is to create not just customer satisfaction,but also customer delight.

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Quiz 1: Marketing: Managing Profitable Customer Relationships