Introduction to Business International Edition 10th Edition by William M. Pride – Test Bank

Introduction to Business International Edition 10th Edition by William M. Pride – Test Bank

CHAPTER 9
Building Customer Relationships Through Effective Marketing

LEARNING OBJECTIVES
1. Understand the meaning of marketing and the importance of management of customer relationships.
2. Explain how marketing adds value by creating several forms of utility.
3. Trace the development of the marketing concept and understand how it is implemented.
4. Understand what markets are and how they are classified.
5. Identify the four elements of the marketing mix and be aware of their importance in developing a marketing strategy.
6. Explain how the marketing environment affects strategic market planning.
7. Understand the major components of a marketing plan.
8. Describe how market measurement and sales forecasting are used.
9. Distinguish between a marketing information system and marketing research.
10. Identify the major steps in the consumer buying decision process and the sets of factors that may influence this process.
ESSAY QUESTIONS
Utility: The Value Added by Marketing
LO: 2
Page: 341
AACSB: Communication 1. Identify and describe the four major types of utility. Which one is influenced
indirectly by marketing efforts?
The Marketing Concept
LO: 3
Page: 342–343
AACSB: Communication 2. What does it mean for a firm to have a strong production orientation? How does
this differ from the marketing concept?
LO: 3
Page: 343
AACSB: Communication 3. Your firm would like to implement the marketing concept. What information will
you need? Since the acquisition of information costs money, justify your need for
this information.

LO: 3
Page: 340, 342
AACSB: Communication 4. How is relationship marketing related to the marketing concept?
Markets and Their Classification
LO: 4
Page: 344
AACSB: Communication 5. What is a market?
LO: 4
Page: 346
AACSB: Communication 6. Describe the three major targeting strategies and give an example of each.
Creating a Marketing Mix
LO: 5
Page: 348–349
AACSB: Communication 7. What four main elements does the marketing mix contain?
Marketing Strategy and the Marketing Environment
LO: 6
Page: 350
AACSB: Communication 8. What are the major forces in the marketing environment?
Developing a Marketing Plan
LO: 7
Page: 351
AACSB: Communication 9. What are the major components of a marketing plan?