Question 1

Mobile marketing is slowly taking off.

Accepted Answer

Mobile marketing has rapidly grown and become a crucial part of marketing strategies due to the widespread use of smartphones and mobile devices.

Question 2

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

Accepted Answer

The answer of The aim of customer relationship management is...

Question 3

Since customers are the source of revenue for a firm, all customers are profitable.

Accepted Answer

Not all customers are profitable as some may require more resources, time and effort to serve, leading to a lower profit margin or even losses. Additionally, some customers may engage in behaviors such as price haggling or returning items frequently that can further lower profitability.

Question 4

Culture and individual personality shape human needs into wants. What transforms wants into demands?

Accepted Answer

The answer of Culture and individual personality shape human needs...

Question 5

Define customer equity and explain why it is important to a company.

Accepted Answer

The answer of Define customer equity and explain why it...

Question 6

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

Accepted Answer

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Question 7

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 8

How might a manufacturer of tents and camping equipment create brand experiences for consumers?

Accepted Answer

The answer of How might a manufacturer of tents and...

Question 9

Social media spending by companies is at a maximum today.

Accepted Answer

While social media spending by companies has significantly increased over the years, it is not necessarily at its maximum today as it can continue to grow with the evolving digital landscape and changing marketing strategies.

Question 10

One of the major developments in marketing can be summed up in one word: relationships. Define customer relationship management and its associated tools and levels of relationships.

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Question 11

Discuss how the Internet, social networks and mobility have transformed business.

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Question 12

A modern marketing system relies on profitable relationships, including the relationship sellers have with buyers, competitors and suppliers Considering this, what might Walmart rely on in order to offer low prices?

Accepted Answer

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Question 13

How might a seller avoid marketing myopia?

Accepted Answer

The answer of How might a seller avoid marketing myopia?...

Question 14

Many company websites also serve as online brand communities.

Accepted Answer

Company websites often include features such as forums, social media integration, and customer reviews, which facilitate community building and foster customer engagement with the brand.

Question 15

Describe and compare the four types of customers classified by their potential profitability to an organization. Identify how an organization should manage each type of customer.

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Question 16

Discuss the opportunities and advantages that new communication technologies have created for marketers.

Accepted Answer

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Question 17

The management team at Big Burritos, a new fast-food restaurant, wants to develop a new marketing plan. What would a marketing manager tell Big Burritos' management team their twofold goal of marketing should be?

Accepted Answer

The answer of The management team at Big Burritos, a...

Question 18

Before the marketing mix is developed, marketers need to understand the wants and needs of customers.

Accepted Answer

Understanding the wants and needs of customers is a crucial step in developing an effective marketing mix.

Question 19

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

Accepted Answer

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Question 20

Explain how and why marketers go beyond selling a product or service to create brand experiences.

Accepted Answer

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Quiz 1: Marketing: Creating and Capturing Customer Value