Premium Essay

Chapter 11

In: Business and Management

Submitted By volcomajm
Words 480
Pages 2
Chapter Eleven

Marketing: Building Profitable Customer Connections


1. How does the American Marketing Association define marketing? How can marketers deliver value to their customers over the long term? How do they define America Marketing Association, as the activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. How can marketers deliver value to their customers over the long term, they have to deliver value to customers with by successful marketers deliver by customer needs in ways that exceed their expectations.

2. What are the 4 different kinds of utility that marketers can provide? Give an example (not from the book) of a product that delivers each type of utility.

|Type of Utility |Example |
|Form |iPhone |
|Time |Drive through open 24/7 |
|Place |Cafeteria on campus |
|Ownership |Laptop |

3. How has marketing evolved over time? How have current events, economics, and culture influenced thinking about marketing? Marketing develop through different phases: production era, selling era, marketing era, and relationship era. During marketing era concept of marketing was new and not its start to growing and get bigger. Now, for customers will feel satisfactions became…...

Similar Documents

Premium Essay

Review Chapters 11-21 chapters 11-21 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. A new-product strategy: a. | links the new-product development process with the objectives of the marketing department, the business unit, and the corporation | b. | is part of an organization's overall marketing strategy | c. | specifies the roles new products play in the organization's overall plans | d. | describes the characteristics of products the organization wants to offer and the markets it wants to serve | e. | is accurately described by all of these | ____ 2. The first stage of the new-product development process is: a. | screening and concept testing | b. | establishing the new-product strategy | c. | exploring opportunities | d. | developing a business analysis | e. | the building of a prototype | ____ 3. A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new-product ideas that would allow it to compete more effectively? a. | current retailers who carry the manufacturer's equipment | b. | its foreign competitors | c. | the company's employees | d. | customers who have requested its catalogs | e. | all of these | ____ 4. Which of the following stages of the new-product development process is the first filter in the new-product development process and serves to eliminate new-product......

Words: 7439 - Pages: 30

Premium Essay

Fa Chapter 11 Exercises

...CHAPTER 11 CURRENT LIABILITIES AND PAYROLL 1 EYE OPENERS 1. A discounted note payable has no stated interest rate, but provides interest by discounting the note proceeds. The discount, which is the difference between the proceeds and the face of the note, is the interest and is accounted for as such. 2. a. Income or withholding taxes, social security, and Medicare b. Employees Federal Income Tax Payable, Social Security Tax Payable, and Medicare Tax Payable 3. There is a ceiling on (c) the social security portion of the FICA tax and (d) the federal unemployment compensation tax. 4. The deductions from employees’ earnings are for amounts owed (liabilities) to others for such items as federal taxes, state and local income taxes, and contributions to pension plans. 5. Yes. Unemployment compensation taxes are paid by the employer on the first $7,000 of annual earnings for each employee. Therefore, hiring two employees, each earning $12,500 per year, would require the payment of twice the unemployment tax than if only one employee, earning $25,000, was hired. 6. 1. a 2. c 3. c 4. b 5. b 7. The use of special payroll checks relieves the treasurer or other executives of the task of signing a large number of regular checks each payday. Another advantage of this system is that reconciling the regular bank statement is simplified. The paid payroll checks are returned by the bank separately from regular checks and are accompanied by...

Words: 6693 - Pages: 27

Premium Essay

Chapter 11

...GEB2112 Module 6 Chapter 11 1. Why is developing a financial plan so important to an entrepreneur about to launch a business? A financial plan is like a road map to success. Using one will help keep you on track, help you from over spending, and maximize revenue 2. How should a small business manager use the 12 ratios discussed in this chapter? They should use the right mix of ratio’s that will give the best picture of the business’s health. Looking at each ratio will help to determine which set or grouping of the 12 ratios are the best for the business 3. Outline the key points of the twelve ratios discussed in this chapter. What signals does each give a business owner? a) Current ratio b) Quick ratio c) Leverage ratio d) Debt to net worth ratio e) Times interest earned f) Average Inventory turnover g) Average collection period Ratio h) Average payable period ratio i) Net sales to Total assets j) Net profit on sales k) Net profit to assets l) Net profit to Equity 4. Describe the method for building a projected income statement and a projected balance sheet for a beginning business. The method to build a pro forma for beginning a business can be done in many ways. In order to get the most accurate projections you will need statistics from like types of businesses and from neighboring businesses. You can do this by purchasing published information or you might be able to use public information from a......

Words: 309 - Pages: 2

Premium Essay

Chapters 9-11 Summary

...Chapter 9 Summary Majority of Chapter 9, Transportation Risk Management, speaks of the Risk Management Process. The Risk Management Process breaks down into four different categories or steps. These steps, not in any particular type of order, include Risk Review and Monitoring, Risk Identity, Risk Analysis and Risk Management. In step 1, risk identification, the goal is to capture as many transportation disruption risks as possible. Some of the techniques that are used for risk identification include brainstorming, interviews, surveys, historical data and documented knowledge. Brainstorming usually can be identified as meetings that are held with knowledgeable members that participate in conversations that create new thoughts and ideas. During brainstorming, they take the original ideas and help make them into a stronger, complete list of risks. Interviews and surveys differ from brainstorming because they are used to capture transportation risk information from individuals while brainstorming is used upon a group of individuals. Historical data and documented knowledge provide a collection of information about specific transportation activities, service providers and trade lanes. (Coyle, P. 295) Some of the common transportation disruption risks include product loss, product damage, product contamination, delivery delay, supply chain interruption and security breach. Product loss consists of product pilferage, shipment jettison, piracy and hijacking. Product damage......

Words: 1792 - Pages: 8

Premium Essay

Solution for Chapter 11

...Solutions for Chapter 11 Audit of Acquisition and Payment Cycle and Inventory Review Questions: 11-1. Supply chain management involves the management and control of materials in the logistics process from the acquisition of raw materials to the delivery of finished products to the end user (customer). Supply-chain management involves contracts between buyers and suppliers that specify contract, delivery, and payment terms. In some cases, such as Wal-Mart, suppliers retain title to the goods until they are sold to the buyer’s customers. Wal-Mart’s suppliers have access to Wal-Mart’s inventory records and automatically restock inventory according to that contract. Wal-Mart pays their suppliers when the products are sold to its customers. General Motors has contracts with its suppliers that call for providing tires and other parts based on production schedules and paying suppliers based on the actual production of cars. 11-2. The major controls that a company such as General Motors will consider in such a partnering relationship include: • A contract specifying the requirements of each party to the contract. For example, the contract should specify the following major requirements of the supplier: o Penalties for failure to deliver products on time. o Quality control requirements, including inspection and testing to be done either by the supplier or the purchaser. Most contracts require intensive inspection by the......

Words: 19271 - Pages: 78

Premium Essay

Chapter 11 Case Study

...Chapter 11 Case Finding customers used to be an arduous and tedious manual task. Because of technology, there is a list of names that will allow a business to locate its specific target customers, no matter how “niche.” Today, a company by the name of infoUSA Inc. maintains one of the nation’s largest databases, including 14 million businesses and 220 million consumers. The company started in Nebraska in 1972 when a man by the name of Vinod Gupta created an RV list compiled from 4,500 Yellow Pages phone books. This list was highly coveted at the time simply because nothing similar to it had existed at the time. Such a database makes it extremely easy for customers. Even though it doesn’t do the whole job for them, it allows a target for publicity word-of-mouth recommendations, or “buzz” to be used, making it the core of finding customers. Customer relationship management (CRM) is a system for managing a company's interactions with current and future customers. It often involves using technology to organize, automate and synchronize sales, marketing, customer service, and technical support. There are two different types of CRM system, operational and analytical. Operational CRM is focused on the automation of the customer-facing parts of businesses. Various CRM software applications enable the marketing, selling and service functions to be automated. Analytical CRM is concerned with exploiting customer data to enhance both customer and company value. Analytical......

Words: 586 - Pages: 3

Premium Essay

Management Chapter 11

...Chapter 1 introduction True-False Questions 1-1 Managers need to know the mathematical theory behind the techniques of management science so that they can lead management science teams. F 1-2 Spreadsheets allow many managers to conduct their own analyses in management science studies. T 1-3 Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors. T 1-4 The discovery of the simplex method in 1947 was the beginning of management science as a discipline. F 1-5 Managers make decisions based solely on the quantitative factors involved in the problem. F 1-6 A management science team will try to conduct a systematic investigation of a problem that includes careful data gathering, developing and testing hypotheses, and then applying sound logic in the analysis. T 1-7 The mathematical model of a business problem is the system of equations and related mathematical expressions that describes the essence of the problem. T 1-8 Once management makes its decisions, the management science team typically is finished with its involvement in the problem. F 1-9 A cost that varies with the production volume would be a fixed cost. F 1-10 A cost that varies with the production volume would be a variable cost. T 1-11 At the break-even point, management is indifferent between producing a product and not producing it. T 1-12 A constraint is an algebraic......

Words: 705 - Pages: 3

Free Essay

Chapter 11 Ccna

...Chapter 11 True/False Indicate whether the statement is true or false. ____ 1. Asynchronous serial connections are typically used with analog modems. ____ 2. The benefit of multilink is that you can combine the bandwidth of two separate devices over one logical connection. ____ 3. Compared with PAP, CHAP provides a much more simple authentication process. ____ 4. Using authentication with PPP connections is mandatory. ____ 5. The Frame Relay map can be built automatically or statically depending on the Frame Relay topology. Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 6. PPP is an Internet standard protocol defined in RFCs 2153 and ____. a.|1551|c.|2234| b.|1661|d.|2532| ____ 7. The ____ is used at the Data Link layer to establish, configure, and test the connection. a.|NCP|c.|IPCP| b.|ATCP|d.|LCP| ____ 8. In a production environment, you can use the ____ command from interface configuration mode, which will automatically shut down that interface when looping is detected. a.|off-looped-interface|c.|down-when-looped| b.|looped off|d.|off-when-lopped| ____ 9. ____ checks the reliability of the link by monitoring the number of errors, latency between requests, connection retries, and connection failures on the PPP link. a.|LQM|c.|CHAP| b.|PAP|d.|LCDI| ____ 10. Once you have completed configuring your PPP interface, you can verify the changes using the ____......

Words: 2989 - Pages: 12

Premium Essay

Accounting Chapter 11 and 12

...Week Six Homework – Chapter 11 & 12 Accounting S11-7 1. Earnings = Net income − preferred dividends per share /average number of common shares outstanding 2. Earnings per share of common stock: Income (loss) from continuing operations Income (loss) from discontinued operations Income (loss) before extraordinary item and cumulative effect of change in accounting principle Extraordinary gain or loss Cumulative effect of change in accounting principle Net income (net loss) 3. Earnings per share is useful because it relates a company’s income to one share of the company’s stock. Stock prices are quoted at an amount per share. Earnings per share is used to help determine the value of a share of stock. S11-12 1. Management of Ashburnham Computer, Inc. is responsible for the company’s financial statements. 2. The accounting standard for financial statements is accounting principles generally accepted in the United States of America. 3. Management has established and maintains internal accounting control over financial reporting to fulfill its responsibility for reliable financial information. 4. Independent Registered Public Accounting Firm, auditors located in Portage, Michigan, gave an outside opinion on Ashburnham’s financial statements. Independent Registered Public Accounting Firm released its opinion on December 28, 2010. 5. The audit covered Ashburnham’s balance sheets at September 30, 2010, and......

Words: 543 - Pages: 3

Premium Essay

Study Guide for Chapter 11

...Study Guide for Chapter 11 Introduction to Business * Marketing- an organizational function and a set of processes for creating, communicating, and delivering value for customers and for managing customer relationships in ways that benefit the organization and its stakeholders. * Utility- the ability of goods and services to satisfy consumer “wants.” * Marketing Concept- a business philosophy that makes customer satisfaction now and in the future the central focus of the entire organization. * Customer Relationship Management (CRM) - the ongoing process of acquiring, maintaining, and growing profitable customer relationships by delivering unmatched value. * Value- a customer perception that a product has a better relationship than its competitors between the cost and the benefits. * Customer Satisfaction- when customers perceive that a good or service delivers value above and beyond their expectations. * Customer Loyalty- when customers buy a product from the same supplier again and again sometimes paying even more of it than they would for a competitive product. * Marketing Plan- a formal document that defines marketing objectives and the specific strategies for achieving those objectives. * Market Segmentation- dividing potential customers into groups of similar people, or segments. * Target Market- the group of people who are most likely to buy a particular product. * Consumer Marketers or Marketing- marketers who direct......

Words: 660 - Pages: 3

Premium Essay

Investment Chapter 11 Answer

...CHAPTER 11 – CALCULATING THE COST OF CAPITAL Questions LG1 11-1 How would you handle calculating the cost of capital if a firm were planning two issue two different classes of common stock? Solution: As the two different classes of common stock are likely to have different component costs, calculate the cost and weight for each separately. LG2 11-2 Why don’t we multiply the cost of preferred stock by 1 minus the tax rate, as we do for debt? Solution: Because dividends on preferred stock, unlike interest on debt, are paid out of after-tax income. LG2 11-3 Expressing WACC in terms of iE, iP, and iD, what is the theoretical minimum for the WACC? Solution: The theoretical minimum WACC would be that for an all-debt firm: iD × (1-TC) LG3 11-4 Under what situations would you want to use the CAPM approach for estimating the component cost of equity? The Constant-Growth model? Solution: You would want to use the CAPM when you can estimate the firm’s beta with a good deal of certainty: you would only want to use the constant-growth model if the firm’s stock is expected to experience constant dividend growth. LG3 11-5 Could you calculate the component cost of equity for a stock with nonconstant expected growth rate in dividends if you didn’t have the information necessary to compute the component cost using the CAPM? Why or why not? Solution: You could try and adjust the constant growth model for initial periods of nonconstant growth, but doing so......

Words: 3395 - Pages: 14

Premium Essay

Chapter 11 Intermediate Accounting

...CHAPTER 11 Depreciation, Impairments, and Depletion ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) | | |Brief Exercises | | | Concepts for | |Topics |Questions | |Exercises |Problems |Analysis | |1. |Depreciation methods; meaning of |1, 2, 3, 4, 5, 6, | |1, 2, 3, 4, 5, 8, |1, 2, 3 |1, 2, 3, 4, 5 | | |depreciation; choice of depreciation |10, 14, | |14, 15 | | | | |methods. |20, 21, 22 | | | | | |2. |Computation of |7, 8, 9, 13 |1, 2, 3, 4 |1, 2, 3, 4, |1, 2, 3, |1, 2, 3 | | |depreciation. | | |5, 6, 7, |4, 8, 10, 11, 12 | | | | | | |10, 15 | | | |3. |Depreciation base. |6, 7 |5 |8, 14 |1, 2, 3, |3 | | | ...

Words: 21765 - Pages: 88

Premium Essay

Cover of for Chapter 11

...FOR – Chapter 11 The research contained within the second FOR of chapter 11 covers the topic of “blurting”. “Blurting” is talking about one’s feelings or thoughts without any sort of filter or forethought. This study found that many people who reported being a “chronic blurter,” often report blurting incidents as being, “Negative or regrettable comments”. The study also found that socially, “Blurting is associated with a variety of less-than-positive traits”. A good hypothetical example of this would come from an interaction between two people shopping for clothes together. One of the two is fit and the other, overweight. When the overweight individual tries on a shirt that is a bit tight on them and asks for an opinion form their fit friend, the friend blurts out, “I like the shirt, but it would fit better if you lost some weight”. If the fit friend had thought through the impact that their comment might have on their overweight friend, they probably would not said what they did, or would have found a different way to get their point across. One concept from Adler, Rosenfeld, and Proctor II’s work that can be linked into this FOR is the definition of competent communication. According to chapter 1, competent communication is both effective and appropriate. Blurting has been shown to be, quite often, the complete opposite of both of these things. As it is often, “Associated with a variety of less-than-positive traits,” it is often inappropriate; and in turn, it is......

Words: 507 - Pages: 3

Premium Essay

Ap Governemtn Chapter 11

...Notes: Chapter 11 “Congress” I. Introduction 1. The Congress that the U.S. and most Latin American countries has is different from the Parliament that most European nations have because in Europe, a person who wants to run for office must persuade his party to nominate him, while in America, politicians can run for themselves. i. In Europe, people vote for parties; in America, they vote for individuals. ii. In primaries, people vote especially for a “person” (and his qualities, traits, etc…), and in general elections, this is sometimes true also. iii. In parliament, legislators can support their leaders or not, and if they don’t then new leaders (prime minister and various cabinet members) must be elected. a. This ensures that more action can occur, since the parties of the executive and legislative branches are practically always the same. iv. Congress is free from the turmoil of possible collapsing executive branches and is more powerful to make decisions; Congressmen don’t have to worry about easily losing their positions come another election. a. In Congress, there is less cohesion in bill passing, and less stuff can get done. v. Parliaments members usually engage in debate, are poorly paid, have little independent power, and receive little power as well. vi. Meanwhile, Congressmen are much better paid, have more power, do many......

Words: 6015 - Pages: 25

Premium Essay

Chapter 11 Case Questions

...Chapter 11 1. I believe Zook is thinking that in order for the sales contract to be valid, there has to be both an offer and acceptance. At the time of the initial offer, there was no official acceptance. Once Radar Appliances did accept, the offer was no longer there, as Zook withdrew before there was an acceptance. And under common law contract principles, an offer may be revoked at any time before acceptance. Zook also never technically said that they would allow the offer to stand for more than a week, so I don’t believe it was a valid sales contract. 2. If I have read the book correctly, technically you do not have to read the agreement or even click a box that says “I agree” to be in an enforceable contract, as long as it was laid out clearly to you what was going on. She could have, and should have, read the agreement as it was stated clearly in a hypertext link, but she chose not to. The site said specifically that by entering your email and clicking “subscribe” that you agreed to the terms, and she did just that. So yes, I believe she is in an enforceable contract with E-Commerce Weekly. 3. I believe Roger’s is at fault unfortunately and is not in favor of the court. The vice president who signed and verified that he had read and agreed to the warranty coverage should have been more observing and seen the bold text stating the warranty was on the back of the page, which then he would have known was missing. Hyundai did their part and met their side of......

Words: 286 - Pages: 2