Strategic Marketing E1 Ch. 1 – Flashcards
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1. Value may be defined as the ratio of bundled benefits received to the cost incurred by the customer to receive those benefits. ____________ is not thought of as one of the costs
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Customer satisfaction
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In order for Marketing (Big M) to succeed, it must be championed by __________.
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Top management
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_______________ uses (use) marketdriving strategies
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Apple, Microsoft, Disney
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4. Starbucks does not use advertising to promote its stores. This decision most likely reflects the company's _____________.
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Marketing (Big M)
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5. Little m marketing includes ____________.
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Advertising and Brand image
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6. The _____________ aspect of a firm is generally the most visible to people outside the organization.
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Marketing
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7. The most visible business function of the firm is______ as demonstrated by a web page, good customer service, or a TV advertisement.
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Marketing
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8. All internal organizational practices should be aligned around ____.
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The customer
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10. _____________ is not part of the marketing mix.
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Manufacturing
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11. Bryan gets reduced fees for his daughter's piano lessons by maintaining her teacher's website. Bryan is practicing the central tenet of marketing called ____________.
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Exchange
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12. According to Peter Drucker the father of modern management, the business enterprise has only two functions: ______ and _____.,
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Marketing and innovation
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13. Making a change in any of the marketing mix elements will _______________.
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Have a domino effect on the other elements
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14. Strategic marketing refers to __________________.
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Understanding the market, competitors, and other external forces, and focusing on internal capabilities to plan for the future
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15. After a recent 141day strike the union members in California went back to work at area grocery stores. The union negotiated raises, better health care benefits, and a one-tier pay scale. The role of the union may best be described as a(n) ________.,
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Stakeholder
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17. The longterm objective of strategic marketing is ____________.
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Achieving profitability through building a customer oriented organization
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18. Sheila and Barbara are billing department managers in a call center. Senior management has given employees who answer phones only a limited amount of time to spend with each customer. Sheila and Barbara want to make strategic marketing changes. They must have the support of ____________ in order to succeed.
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Top management
