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MBA - 706 Darrat (Exam 1) Marketing Chapters: 1,2,5,7 Questions and Answers
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MBA - 706 Darrat (Exam 1) Marketing Chapters: 1,2,5,7 Questions and Answers
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MBA - 706 Darrat (Exam 1) Marketing Chapters: 1,2,5,7Questions and Answers
Organizations CORRECT ANS-Museums, performing-arts organizations, corporations, and
nonprofits all use marketing to boost their public image and compete for audiences and funds
Information CORRECT ANS-disseminated knowledge
Ideas CORRECT ANS-organizations promote causes focused on issues such as poverty,
climate change, civil rights, social justice, racial discrimination, gender inequality, health care
availability, and child-
hood obesity.
4 Major Market Forces CORRECT ANS-Technology: Massive amounts of information and
data about almost everything are now available to both consumers and marketers.
Globalization: Geographic and political barriers have been eroded as advanced
telecommunication technologies and workflow platforms that enable all types of comput- ers
to work together continue to create almost limitless opportunities for communication,
collabora- tion, and data mining.
Physical Environment: Climate change—a term referring to lasting changes in Earth's global
climate as well as changes in regional climates—can have a significant impact on a company's
business activities. Health conditions-range from short-term illnesses that are confined to a
particular geographic area to pandemics that spread across the globe. Changes in health
conditions can influence not only the operations of pharmaceutical, biotechnology, and
health management companies but also companies that are not directly related to health
care.
Social Responsibility: Because marketing's effects extend to society as a whole, marketers
must consider the ethical, environmental, legal, and social context of their activities.
3 Key Marketing Outcomes CORRECT ANS-New Consumer Capabilities:
, MBA - 706 Darrat (Exam 1) Marketing Chapters: 1,2,5,7
Questions and Answers
-online resources as a powerful information and purchasing aid
-mobile connectivity to search, communicate, and purchase on the go
-tap into social media to share opinions and express loyalty
-actively interact with companies
-reject marketing they find inappropriate or annoying
-extract more value from what they already own
New Company Capabilities:
-use the internet as a powerful information and sales channel, including for individually
differentiated goods.
-collect fuller and richer information about markets, customers, prospects, and competitors.
-reach consumers quickly and efficiently via social media and mobile marketing, sending
targeted ads, coupons, and information.
-improve purchasing, recruiting, training, and internal and external communications.
-improve their cost efficiency.
New Competitive Environment:
-Deregulation
-Privatization
-Retail transformation
-Disintermediation
-Private labels
-Mega-bands
Holistic Marketing CORRECT ANS-Concept is based on the development, design, and
implementation of marketing programs, processes, and activities that are based on breadth
and interdependencies.
, MBA - 706 Darrat (Exam 1) Marketing Chapters: 1,2,5,7
Questions and Answers
Recognizes that everything matters in marketing and that a broad, integrated perspective is
often necessary.
Four components of holistic marketing are relationship marketing, integrated marketing,
internal marketing, and performance marketing
Relationship Marketing CORRECT ANS-aims to build mutually satisfying long-term relation-
ships with key constituents in order to earn and retain their business
Marketing Network CORRECT ANS-which consists of the company and its supporting
stakeholders (customers, employees, suppliers, distributors, retailers, and others) with whom
it has built mutually profitable business relationships.
Integrated Marketing CORRECT ANS-coordinates all marketing activities and marketing
programs and directs them toward creating, communicating, and delivering consistent value
and a consistent message for consumers, such that "the whole is greater than the sum of its
parts."
Internal Marketing CORRECT ANS-an element of holistic marketing is the task of hiring,
training, and motivating able employees who want to serve customers well.
Performance Marketing CORRECT ANS-understanding the financial and nonfinancial
returns to business and society from marketing activities and programs
Production Concept CORRECT ANS-consumersprefer products that are widely available and
inexpensive
Product Concept CORRECT ANS-consumers favor products offering the highest quality, the
best performance, or innovative features
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