This preview shows page 1. Sign up to view the full content.
Unformatted text preview: All of the following are good reasons to study marketing EXCEPT: a.
e. Marketing creates consumer needs.
Marketing plays an important role in society,
coordinating the huge numbers of transactions
needed to provide goods and services.
Marketing is a key function in business.
Marketing offers outstanding career
Marketing affects your day-to-day life as a
consumer. ANS: A
Marketing may create consumer wants, but it does not create consumer needs.
KEY: CB&E Model Strategy OBJ: 01-4 TOP: AACSB Reflective MSC: BLOOMS Evaluation 90. What is the fundamental objective of most businesses?
employee empowerment, teamwork, and
low costs and high quality
customer loyalty and retention
survival, profits, and growth
The use of marketing allows businesses to achieve this objective.
KEY: CB&E Model Strategy OBJ: 01-4
TOP: AACSB Analytic
MSC: BLOOMS Comprehension Ritz-Carlton Hotels
Cesar Ritz, the founder of the original Ritz-Carlton, Boston, was known as the “king of hoteliers
and the hotelier to kings.” Today, there are more than 70 Ritz-Carlton hotels spanning 24
countries with 38,000 employees. These are not typical employees, though. They are described as
“Ladies and Gentlemen serving Ladies and Gentlemen.” Employees participate in an intensive
orientation program and recertification programs throughout their careers with the company, and
many are allowed $2,000 to fix a guest’s problem on the spot without managerial approval. So
renowned is the Ritz way of doing business that the company offers a Leadership Center for
executives and managers of other companies to learn and implement the Ritz way of customer
service. But it doesn’t stop with employees. Ritz-Carlton hotels recently launched “Give Back
Getaways” in 2008 that allow guests to volunteer in locales where they are vacationing. The hotel
also offers “Vow to Help Others,” which is a program that donates a portion of a wedding
couple’s reception costs to those in need. The chief operating officer’s words sum up RitzCarlton’s philosophy best: “If we really do our job, we really don’t need sales anymore. Satisfied
guests are your advertising.”
91. Refer to Ritz-Carlton Hotels. The chief operating officer’s statement regarding sales and
advertising illustrates which marketing management philosophy embraced by this company?
Promotional ANS: B
A market orientation is a philosophy that assumes that a sale does not depend on an aggressive
sales force but rather on a customer’s decision to purchase a product.
KEY: CB&E Model Strategy OBJ: 01-2 TOP: AACSB Reflective MSC: BLOOMS Application 92. Refer to Ritz-Carlton Hotels. The “Give Back Getaways” and “Vow to Help Others” programs
offered by Ritz-Carlton hotels are applications of which marketing managemen...
View Full Document
- Fall '13