Question 1

How can marketing be effectively used by entrepreneurs?

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Question 2

The text states,"Good marketing is not a random activity." Create an example to respond to this statement.

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Question 3

Your friend is writing a "how to" book and asks you for marketing advice.You start by exploring the four Ps.What questions will you ask? Be specific; your friend is creating a book.

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Question 4

As your first assignment in an advertising agency,your manager asks you to come up with messages for three billboards promoting the university you attended.The manager wants one ad for each of the three types of promotion objectives.Create an example of one sentence billboard advertising message for each objective.

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Question 5

Jean-Pierre is a wine distributor in the United States representing primarily European vintners (wine producers).He knows his potential market is every wine drinker in the United States,but he has limited resources to market his products.Using the ideas presented in the text,what should Jean-Pierre do as a first step when developing his marketing plan?

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Question 6

At one point in the evolution of marketing,the United States entered a buyer's market and the customer became king.Which era is being described?

Accepted Answer

The description of the customer being king and a buyer's market aligns with the market-oriented era, where the focus shifted from the production and sales process to understanding and meeting customer needs and wants.

Question 7

The primary purpose of the __________ plan is to specify the marketing activities for a specific time.

Accepted Answer

The marketing plan is specifically designed to outline the marketing activities and strategies for a specific time period. It includes details on product promotion, pricing, distribution, and other marketing tactics. Other plans like business, strategic, organizational, and resource plans may include marketing components but their primary purposes are different.

Question 8

The activity,set of institutions,and process for creating,capturing,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large is called __________.

Accepted Answer

Marketing encompasses all the activities involved in creating and delivering value to customers, clients, partners and society at large. Marketing includes market research, market share analysis, market segmentation, positioning, as well as the communication, delivery, and exchange of offerings that have value.

Question 9

Jeff opened a sporting apparel store and has signed a lease on the property.He has also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct.Based on this description,which aspect of the marketing mix does he still need to work on?

Accepted Answer

Since Jeff has already signed the lease on the property and an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct, the only aspect of the marketing mix that he still needs to work on is the price. He needs to determine the pricing of his products in a way that will attract customers while also ensuring that he makes a profit.

Question 10

Suppose your college roommate sees you reading your marketing textbook and says,"Marketing is just advertising and selling." How do you respond?

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Question 11

Which of the following is a core aspect of marketing?

Accepted Answer

All of these options are core aspects of marketing. Creating value for the customer is fundamental in ensuring customer satisfaction and loyalty. Marketing involves exchanges between two parties - the buyer and the seller. Development of a marketing mix involves analyzing the product, price, place, and promotion strategies. Marketing can occur in various settings such as B2B or B2C markets, online, or offline. Therefore, all these options are essential elements of marketing.

Question 12

Suppose that your university creates a position of vice president for marketing and promotes your professor to the position.What activities will the new vice president of marketing probably be involved in? Be specific; this is a university.

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Question 13

When an accounting firm provides an online training module showcasing real-life decision lapses and their negative effect on the company,they are trying to encourage what type of behavior from their employees?

Accepted Answer

The online training module showcasing real-life decision lapses and their negative effect on the company is designed to encourage ethical behavior from the employees. It aims to help them understand the ethical implications of their decisions and actions and how they can avoid making similar mistakes in the future.

Question 14

Some firms practice employment marketing to attract the "best and brightest" employees.If you were to be recruited by a firm practicing employment marketing,what would that firm do differently from a firm that did not? How would you react?

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Question 15

Over the four marketing eras,how did the emphasis on the four Ps change? List the four eras and describe which of the four Ps were emphasized during each era.

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Question 16

Imagine you graduate with a marketing degree and are hired into the marketing department of a large consumer products company.You are initially given a two-week training program,an overview of what the marketing department does.What will your training program cover?

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Question 17

Jeff is going to sell sporting apparel,which he has already purchased from manufacturers,and has signed a deal agreeing to the volume he would sell monthly.He has researched his competition and talked to some customers and has decided on prices he will charge.Jeff has also developed a plan for promoting his business.Based on this description,which element of the marketing mix does Jeff still need to work on?

Accepted Answer

Jeff has already purchased his product and set his pricing strategy, and he has also developed a plan for promoting his business. However, there is no mention of where he plans to sell his sporting apparel. Therefore, he still needs to work on the "place" element of the marketing mix, which refers to the distribution and location strategy for getting the product to the customer.

Question 18

Which type of orientation would you expect among ethically-challenged marketers; a relational or transactional orientation?

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Question 19

The manager of a restaurant supply company determined prices by adding a standard markup to her costs.What might the manager be missing when it comes to effective pricing decisions?

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Question 20

As the customer service manager for a heating and air conditioning firm,you are constantly bombarded with complaints about service people not showing up,not having the parts needed to make repairs,and being unable to quickly get the materials needed to fix things.You decide to bring in a marketing consultant to assist you with these problems.What area of marketing specialization would you look for in a marketing consultant and what recommendations would you expect to receive? Be specific; this is a heating and air conditioning firm.

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Quiz 1: Overview of Marketing