What is the fundamental objective of most businesses

Info icon This preview shows pages 28–31. Sign up to view the full content.

View Full Document Right Arrow Icon
90. What is the fundamental objective of most businesses? a. employee empowerment, teamwork, and relationship marketing b. satisfied stakeholders c. low costs and high quality d. customer loyalty and retention e. survival, profits, and growth
Image of page 28

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
ANS: E The use of marketing allows businesses to achieve this objective. PTS: 1 REF: 12 OBJ: 01-4 TYPE: Comp TOP: AACSB Analytic | TB&E Model Strategy NARRBEGIN: Ritz-Carlton Hotels 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 Gen- tlemen serving Ladies and Gentlemen.” Each employee participates in an intensive orientation pro- gram 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. It doesn’t stop with employees, though. Ritz-Carlton hotels recently launched “Give Back Getaways” in 2008 that allow guests to vo- lunteer 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 oper- ating officer’s words sum up Ritz-Carlton’s philosophy best when he stated, “If we really do our job, we really don’t need sales anymore. Satisfied guests are your advertising.” NARREND 91. Refer to Ritz-Carlton Hotels. The chief operating officer’s statement regarding sales and advertising il- lustrates which marketing management philosophy embraced by this company? PTS: 1 REF: 5 OBJ: 01-2 TOP: AACSB Reflective Thinking | TB&E Model Strategy NAR: Ritz-Carlton Hotels 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 management philosophy? PTS: 1 REF: 6 OBJ: 01-2
Image of page 29
TOP: AACSB Reflective Thinking | TB&E Model Strategy NAR: Ritz-Carlton Hotels
Image of page 30

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 31
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern