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Exam 1: Customer-Driven Strategic Marketing

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Question 51

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A recent Council of Supply Chain Management Professionals meeting featured an executive from Dell Computer, known for their ability to customize computers to customers' needs as well as their ability to provide quality products at economical prices through their retail channel. The executive discussed the capabilities of their firm regarding the ability to produce products that are "built-to-order" and noted that recent customer insight showed customers were less willing to wait 7 to 10 days to receive their computer even though it was built to their specifications. As a result of this customer trend, Dell began forging relationships with retailers such as WalMart to provide a limited number of computer models in the retailers' store. In order to fulfill the orders to WalMart, Dell was required to make changes in their production and manufacturing such as holding more products in inventory and utilizing different modes of transportation. For example, Dell was able to shift from a focus on air transportation to over-the-road trucking which enabled them to cut costs in some areas. As Dell shifted from a "build-to-order" manufacturer to a "make-to-stock" manufacturer they also had to make investments in customer analytics to identify customer needs as well as collect insight regarding pricing. This customer insight was especially important to the retail partners like WalMart who requires their vendors to justify product stock decisions and provide proof that retail inventory will sell at the projected price points. Dell's ability to modify their business model by forging relationships with retailers such as WalMart as well as customer insights has helped the company achieve its revenue and profitability goals. Based on the information provided in the Scenario regarding Dell, which orientation would best describe their approach to marketing?

A) production orientation
B) sales orientation
C) competitive orientation
D) market orientation

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Question 52

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What is meant by the term relationship marketing? How does relationship marketing affect the customer?

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Relationship marketing refers to "long-t...

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Question 53

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Customers are the focal point of all marketing activities.

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

Marketing costs consume about one-half of a buyer's dollar.

Which of the following is not an example of the implementation of the marketing concept?

The marketing concept stresses that a business organization can best achieve its goal by providing customer satisfaction through coordinated activities.

Scott, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which of the following would not be a customer benefit considered in his determination of this product's value?

The hospitality industry including restaurants, hotels, and airlines rely on business travelers for a large portion of their revenue and profitability. Research indicates that business travelers need to stay connected or tethered to their devices and office even when on the road or between business appointments. In addition, business travelers demand convenience and enhanced services such as remote check-in and check-out via their smartphone, checking flight schedules and delays through travel applications, and access to rental cars without having to stop at the rental car counter. Organizations serving the business travel market segment must provide enhanced services such as free wireless Internet access. The research related to the business travel market segment indicates that companies serving these customers must be able to leverage _______ changes in the marketing environment by providing customers with a variety of new products or services such as wireless Internet, remote check-in, and remote access to rental cars.

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?

Creating long-term relationships with customers is a key component to surviving and thriving in today's competitive business landscape. One tactic many companies are deploying is the use of membership or loyalty programs where customers can accumulate points and receive discounts or free merchandise. For example, Kimpton Hotels encourages customers to join their membership program and provide key contact information such as their e-mail, address, and phone number. Kimpton Hotels offers benefits such as upgrades and free room nights based on the number of stays or points a customer has accumulated. This example demonstrates how Kiimpton Hotels is utilizing:

Basic and extended warranties can reduce risk, a major customer cost.

The actual physical production of goods is a marketing activity.

Approximately what percentage of civilian workers in the United States performs marketing activities?

According to the marketing concept, an organization should try to

Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Nike.

What does it mean for a company to be marketing-oriented? What are the most important factors involved in being marketing-oriented?

Price is seldom used as a competitive tool.

Customers are interested in a product's price because they are concerned about the value obtained in an exchange.

A physical product you can touch is a(n)