Question 1

Which of the three transformative forces mentioned in the chapter is associated with the Boston Consulting Group believing brand marketers must enhance their "digital balance sheets"?
A) demographics
B) accountability
C) social responsibility
D) globalization
E) technology

Accepted Answer

The Boston Consulting Group's suggestion to enhance digital balance sheets is related to the transformative force of technology, as advancements in technology are shaping the way consumers interact with brands and businesses.

Question 2

Distinguish between the concepts of value and satisfaction.

Accepted Answer

The answer of Distinguish between the concepts of value and...

Question 3

Discuss how globalization has affected the marketing environment.

Accepted Answer

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Question 4

The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.
A) brand
B) supply chain
C) marketing network
D) value proposition
E) service channel

Accepted Answer

The ultimate outcome of relationship marketing is the creation of a marketing network consisting of the company and its supporting stakeholders such as customers, suppliers, distributors, and other partners. These stakeholders work together to enhance the value of the company's offerings and create a competitive advantage that is difficult for competitors to replicate. A strong marketing network is a unique company asset that can provide long-term sustainability and success.

Question 5

Discuss the concept of disintermediation and provide an example.

Accepted Answer

The answer of Discuss the concept of disintermediation and provide...

Question 6

The Body Shop, Timberland, and Patagonia behave in environmentally responsible ways that differentiate them from competitors, build consumer preference, and achieve notable sales and profit gains. This is an example of ________.
A) social responsibility
B) technology
C) globalization
D) collaboration
E) goodwill

Accepted Answer

The described behavior of The Body Shop, Timberland, and Patagonia falls under the concept of social responsibility, which involves a company's efforts to meet ethical, legal, economic, and philanthropic responsibilities to society. By adopting environmentally responsible practices, these companies are meeting their ethical and philanthropic responsibilities, while also differentiating themselves from competitors and attracting socially conscious consumers, which leads to increased sales and profits.

Question 7

What is the relationship between Apple's brand and its value proposition?

Accepted Answer

The answer of What is the relationship between Apple's brand...

Question 8

The desire to eat a Philly cheesesteak, whether or not you are in the position to buy one, is an example of a demand.

Accepted Answer

The desire to eat a Philly cheesesteak without the ability or willingness to purchase it at a given price does not constitute demand in economic terms. Demand specifically refers to the desire to own something combined with the power to purchase it.

Question 9

Tracy's is a chain of hair dressing salons for women. They use television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. In so doing, Tracy's is practicing ________ marketing.
A) internal
B) integrated
C) socially responsible
D) global
E) relationship

Accepted Answer

Tracy's is using multiple communication channels to advertise their services and ensuring that they deliver a unified message. This is an example of integrated marketing, where different channels work together to create a cohesive campaign.

Question 10

The Internet has given today's companies a new set of capabilities. Among those capabilities is the ability to operate a new information channel. Describe how information can be used by the marketer in this new channel.

Accepted Answer

The answer of The Internet has given today's companies a...

Question 11

The digital revolution has placed a whole new set of capabilities in the hands of consumers and businesses. Describe the advantages that you as a consumer have today that your parents or grandparents didn't have.

Accepted Answer

The answer of The digital revolution has placed a whole...

Question 12

Consumers often have many needs that are not readily obvious. Just observing their behavior inside a retail store is not enough to get a True understanding of their "needs." List and briefly describe the five types of needs that most consumers have.

Accepted Answer

The answer of Consumers often have many needs that are...

Question 13

Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
A) selling-oriented
B) product-oriented
C) production-oriented
D) marketing-oriented
E) consumer-oriented

Accepted Answer

The description of achieving high manufacturing efficiency, low costs, and mass distribution all align with a production-oriented business.

Question 14

The marketplace isn't what it used to be. List and briefly discuss the new behaviors, opportunities, and challenges that await the marketer in the 21st century.

Accepted Answer

The answer of The marketplace isn't what it used to...

Question 15

The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices.

Accepted Answer

The answer of The overabundance of information available on the...

Question 16

The three central trends in Marketing 3.0 are collaborative marketing, globalization, and ________.
A) cultural relevance
B) horizontal marketing
C) consumer well-being
D) the rise of a creative society
E) sustained technological development

Accepted Answer

The answer of The three central trends in Marketing 3.0...

Question 17

In response to threats from such companies as Amazon.com, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This is known as ________.
A) reintermediation
B) disintermediation
C) retail transformation
D) e-collaboration
E) new-market synchronization

Accepted Answer

Reintermediation is the process of adding intermediaries or middlemen back into the distribution channel. In this scenario, established manufacturers and retailers are adding an online service, which is a form of intermediary, to their existing offerings in response to competition from e-commerce companies like Amazon.com.

Question 18

Ford Motor Company knows that to reach its target markets, it may use three kinds of marketing channels. What are these three marketing channels, and how might Ford use each of them?

Accepted Answer

The answer of Ford Motor Company knows that to reach...

Question 19

The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
A) disintermediation
B) diversification
C) reduced competition
D) deregulation
E) privatization

Accepted Answer

Disintermediation is the elimination of intermediaries or middlemen in the distribution channel due to the direct connection between customers and suppliers through online purchasing. This has disrupted the traditional flow of goods and services, resulting in disintermediation.

Question 20

In an attempt to create greater competition and growth opportunities, countries often ________.
A) increase trade barriers
B) protect industries
C) deregulate industries
D) encourage intermediation
E) reduce privatization

Accepted Answer

Deregulating industries can lead to increased competition by reducing restrictions and regulations on businesses. This can create a more level playing field for companies and encourage innovation and growth. Increasing trade barriers and protecting industries can have the opposite effect, limiting competition and hindering growth. Encouraging intermediation and reducing privatization may not necessarily have a direct impact on competition and growth opportunities.

Quiz 1: Defining Marketing for the New Realities

Which of the three transformative forces mentioned in the chapter is associated with the Boston Consulting Group believing brand marketers must enhance their "digital balance sheets"?

Distinguish between the concepts of value and satisfaction.

Discuss how globalization has affected the marketing environment.

The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.

Discuss the concept of disintermediation and provide an example.

The Body Shop, Timberland, and Patagonia behave in environmentally responsible ways that differentiate them from competitors, build consumer preference, and achieve notable sales and profit gains. This is an example of ________.

What is the relationship between Apple's brand and its value proposition?

The desire to eat a Philly cheesesteak, whether or not you are in the position to buy one, is an example of a demand.

Tracy's is a chain of hair dressing salons for women. They use television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. In so doing, Tracy's is practicing ________ marketing.

The Internet has given today's companies a new set of capabilities. Among those capabilities is the ability to operate a new information channel. Describe how information can be used by the marketer in this new channel.

The digital revolution has placed a whole new set of capabilities in the hands of consumers and businesses. Describe the advantages that you as a consumer have today that your parents or grandparents didn't have.

Consumers often have many needs that are not readily obvious. Just observing their behavior inside a retail store is not enough to get a True understanding of their "needs." List and briefly describe the five types of needs that most consumers have.

Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.

The marketplace isn't what it used to be. List and briefly discuss the new behaviors, opportunities, and challenges that await the marketer in the 21st century.

The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices.

The three central trends in Marketing 3.0 are collaborative marketing, globalization, and ________.

In response to threats from such companies as Amazon.com, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This is known as ________.

Ford Motor Company knows that to reach its target markets, it may use three kinds of marketing channels. What are these three marketing channels, and how might Ford use each of them?

The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.

In an attempt to create greater competition and growth opportunities, countries often ________.