CHAPTER 1MARKETING IN A CHANGING WORLD: CREATING CUSTOMER VALUE AND SATISFACTION MULTIPLE CHOICE QUESTIONS 1. Today’s successful companies at all levels have one thing in common. The common theme can best be described as one where the companies are: a. oriented around public service. b. strongly customer focused and heavily committed to marketing. c. moving toward globalization and socialization. d. more interested in governmental regulation and control than ever before. Answer: (b) Difficulty: (1) Page: 4 2. According to Bernie Marcus, cofounder of Home Depot, the Holy Grail of business is: a. the bottom line. b. promotion, promotion, and more promotion. c. an almost blind, passionate commitment to taking care of customers. d. meet every competitive threat with strength, commitment, and the courage to win. Answer: (c) Difficulty: (2) Page: 4 3. Creating __________________ is at the very heart of modern marketing thinking and practice. a. profit maximization b. increased stock value c. award winning products d. customer value and satisfaction Answer: (d) Difficulty: (2) Page: 4 4. The twofold goal of marketing is to attract new customers by promising superior value and: a. win advertising and industry awards for excellence. b. to keep and grow current customers by delivering satisfaction. c. enhance shareholder value. d. pay as few taxes as possible. Answer: (b) Difficulty: (1) Page: 4 1 5. Wal-Mart has become the world’s largest retailer by delivering on its promise, “Always low prices—always.” This would be an example of the marketing philosophy that says: a. “Take care of your customers, and market share and profits will follow.” b. “Buy cheap, sell cheap.” c. “Always take discounts and pass some of them on to consumers.” d. “Distribution is the secret to all conquests in marketing.” Answer: (a) Difficulty: (2) Page: 4 6. Today, marketing must be understood in a new sense that can be characterized as: a. “telling and selling.” b. “management of youth demand.” c. “get there first with the most.” d. “satisfying customer needs.” Answer: (d) Difficulty: (2) Page: 5 7. _________________ is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. a. Management b. Marketing c. Econometrics d. Demand Answer: (b) Difficulty: (1) Page: 5 8. The most basic concept underlying marketing is that of: a. products and services. b. human needs. c. barter. d. transactions. Answer: (b) Difficulty: (3) Page: 5 9. ____________ are states of felt deprivation. a. Demands b. Wants c. Needs d. Core transactions Answer: (c) Difficulty: (1) Page: 5 2 In outstanding companies.10. demands. d. refer to: a. Answer: (c) Difficulty: (2) Page: 7 3 . b. Wants c. b. b. When backed by buying power. service. or consumption that might satisfy a want or need is called a: a. c. d. are addicted to time management. including top management. Demands d. d. c. basic staple. c. object relationships. Answer: (d) Difficulty: (2) Page: 5 13. d. wants become: a. physical wants. acquisition. b. work more than eight hours a day. stay close to customers. individual needs.: a. clothing. c. product. people at all levels. social needs. such as those for food. Transactions Answer: (b) Difficulty: (1) Page: 5 12. a. Basic needs. Answer: (d) Difficulty: (2) Page: 6 14. are constantly inventing new products. physical needs. needs. Answer: (a) Difficulty: (2) Page: 5 11. and safety. __________ are shaped by one’s society and are described in terms of objects. Needs b. relationships. Anything that can be offered to a market for attention. use. demand. customer satisfaction c. Customer needs Answer: (a) Difficulty: (3) Page: 10 4 . customer quality c. customer satisfaction b. Answer: (b) Difficulty: (3) Page: 8 17. so taken with its products that it focuses only on existing wants and loses sight of underlying consumer needs. falling into the trap of “copying” rather than “inventing” products. a.15. customer quality b. perceived value Answer: (d) Difficulty: (2) Page: 10 19. b. perceptual relationships Answer: (c) Difficulty: (3) Page: 8 18. they act on ___________________. The difference between the values the customer gains from owning and using a product and the costs of obtaining the product is called ______________. Instead. Customer value d. in danger of having dangerous cost overruns because it is trying to please too many diverse customer groups. a. demand b. a. needs d. service Answer: (d) Difficulty: (1) Page: 7 16. customer value d. product d. _________________ depend(s) on a product’s perceived performance in delivering value relative to a buyer’s expectations. Customer quality c. A _______________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything. Customers often do not judge product values and costs accurately or objectively. If a company is guilty of “marketing myopia. guilty of prejudice toward certain customer groups. a. d. basic staple c.” then it is: a. c. Customer satisfaction b. barter transaction c. Trading your old calculator for tickets to a Garth Brooks concert would be what kind of transaction? a. c. Answer: (c) Difficulty: (2) Page: 10 21. smart companies aim to: a. An approach in which all the company’s people are involved in constantly improving the quality of products. transaction d. then delivering more than they promise. Cigna 1000. make customers addicted to their products and services. transaction d. Marketing occurs when people decide to satisfy needs and wants through ________. and business processes is called: a. sale b. selling b. Answer: (b) Difficulty: (2) Page: 11 22. b. c. d. relationships Answer: (b) Difficulty: (2) Page: 12 23. and other resources. b. give the customer anything and everything they want. total quality management. exchange c. a. exchange c. With respect to customer satisfaction. total relationship opportunity. always save the customers money.20. exchange management. market transaction d. market Answer: (c) Difficulty: (3) Page: 12 24. monetary transaction b. d. services. a. delight customers by promising only what they can deliver. time. customer transaction Answer: (b) Difficulty: (1) Page: 12 5 . A(n) ______________ consists of a trade of values between parties. relationship marketing d. c. the square in the middle of the city where trade occurs. c. a. they have found that. Answer: (d) Difficulty: (2) Page: 15. In a contemporary sense. suppliers. the end user. marketing network c. the people who may buy the product. b.25. marketing b. and growing profitable customers. promotional stimulation marketing Answer: (c) Difficulty: (3) Page: 12 26.) a. advertising agencies. product flow process Answer: (b) Difficulty: (3) Page: 12 27. Transaction marketing is part of the larger idea of _________________. electronic commerce d. a. wherever a marketer sells products. communication triad d. The main actors in a modern marketing system would include all of the following EXCEPT: (Select the LEAST LIKELY. ___________ is the art of attracting. trade discounts c. the set of actual and potential buyers of a product. customer returns and allowances b. a market is thought to be: a. A _______________ consists of the company and all its supporting stakeholders. finance c. Figure 1-2 6 . marketing intermediaries. demand management Answer: (a) Difficulty: (2) Page: 14 28. ultimately. As CEOs and other managers have reviewed business functions. demand channel b. d. Answer: (c) Difficulty: (2) Page: 14 29. a. keeping. d. b. destroy demand. “leaky bucket” Answer: (d) Difficulty: (2) Page: 16 7 . Answer: (d) Difficulty: (1) Page: 16 33. first out” b. marketers followed a _______________ approach to gaining customers. c. sales Answer: (c) Difficulty: (2) Page: 16 32. relationship marketing b. b. marketing management Answer: (d) Difficulty: (2) Page: 15 31. and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives is called ___________________. increase demand. regulation program c. demarketing d. reduce or shift demand. “treadmill” c. “funnel” d. d. “first in. the California Transit Authority in San Francisco might have to undertake a _______________ campaign to reduce traffic levels during high demand periods of the day or week. The aim of demarketing is to: a. a. implementation. initiate demand. This meant that growing markets supplied endless new consumer candidates and the company did not have to worry about older customers who might become dissatisfied and leave the company’s marketing offerings. and control of programs designed to create. public relations b. build. a. The analysis. In the past. marketing d. demand management c.30. If the Golden Gate Bridge becomes consistently overcrowded with an unsafe level of traffic. planning. a. 000. marketing concept Answer: (a) Difficulty: (2) Page: 19 8 . This would be an illustration of which of the following marketing practice stages? a. entrepreneurial marketing c. In fact. Botros makes it a practice to give at least one public speech per week. demand-based marketing Answer: (b) Difficulty: (2) Page: 17 36. product concept d. b. Jim Koch.34. d. Over time. marketing management has offered five distinct concepts under which organizations conduct their marketing activities. Taco Bell has found that the lifetime value of a Taco Bell customer is about $12. John Botros feels the heat of competition on his new Internet-based home delivery pizza business. econometric concept b. formulated marketing d. c. John is encouraging his managers to get out of their offices and meet the public on their own ground. Rather than just advertising. offer a variety of products. Study has shown that the key to customer retention is: a. formulated marketing d. was often seen talking to bartenders and bar customers to encourage consumption of his brewery’s products. Which of the following DOES NOT belong on the correct list of these concepts? a. constantly advertise. intrepreneurial marketing b. founder of Samuel Adams beer. offer superior customer value and satisfaction. demand-based marketing Answer: (a) Difficulty: (3) Page: 17 37. entrepreneurial marketing c. Answer: (c) Difficulty: (2) Page: 17 35. production concept c. offer the lowest prices. intrepreneurial marketing b. This would be an illustration of which of the following marketing practice stages? a. “Watch your costs at all cost. the production concept d. and innovative features. an organization should devote energy to making continuous product improvements. “The consumer is king. the product concept c. most firms practice _________________. Thus. marketing concept b. location. the marketing concept b. a. production concept c. the marketing concept b. production cost expansion concept d. Which philosophy of business is typically practiced when marketing unsought goods? a.” Answer: (a) Difficulty: (3) Page: 20 41. the product concept. marketing concept Answer: (b) Difficulty: (2) Page: 19 39. their operating philosophy would rely on which of the following phrases? a. a.” d. management should work on improving production and distribution efficiency). location. The _______________ holds that consumers will favor products that are available and highly affordable (therefore. selling concept d. “Location. “Build a better mousetrap. the selling concept Answer: (d) Difficulty: (2) Page: 20 9 . product concept b.” c. product concept Answer: (d) Difficulty: (3) Page: 20 40.38. If a manufacturer was following the product concept. performance. the production concept d. production concept c. the selling concept Answer: (d) Difficulty: (3) Page: 20 42. The _________________ holds that consumers will favor products that offer the most quality. c. a.” b. When faced with overcapacity. and the world will beat a path to your door. ” c. rapid population growth. the societal marketing concept Answer: (d) Difficulty: (2) Page: 23 47. Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tylenol had been laced with cyanide is consistent with which business philosophy? a.” Answer: (c) Difficulty: (1) Page: 20 45. “We make it happen for you. 10 . the product concept c. to serve.43.” b. innovation. service concept b. b. not-for-profit concept Answer: (b) Difficulty: (2) Page: 22 46. worldwide economic problems. _______________________ holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do. The selling concept d. a. “If it ain’t broke. don’t fix it. The ________________ questions whether the pure marketing concept is adequate in an age of environmental problems. the selling concept d. a. All of the following organizational philosophy phrases are associated with the marketing concept EXCEPT: (Pick the phrase that DOES NOT fit. The major marketing developments as we enter the new millennium can be summed up in a single theme: a. d. “Let us exceed your expectations. societal marketing concept c. “To fly. the marketing concept b.) a. c. The product concept c. connectedness.” d. the Internet. The societal marketing concept Answer: (a) Difficulty: (2) Page: 20 44. In an example discussed in your text. The marketing concept b. resource shortages. virtuality. product concept d. and neglected social services. The Defense Department security d. Connections with Marketing Partners d. privatization. c. Answer: (a) Difficulty: (1) Page: 25 49. Which of the following WOULD NOT be among those areas? (Select the one that DOES NOT fit. Under which of the following marketing connections would “connecting through strategic alliances” most likely fall? a.) a. Figure 1-5 51. and transportation connect three primary areas. b. information.Answer: (d) Difficulty: (2) Page: 25 48. a. d. Connections with Marketing Partners d. technology. The telecommunication system Answer: (b) Difficulty: (1) Page: 26 50. social consciousness. Connections with Customers b. The major force behind the new connectedness in marketing is: a. globalization. Connections with Government c. Connections with Government c. communication. The connecting technologies of the computer. Figure 1-5 11 . Connections with the World Around Us Answer: (c) Difficulty: (2) Page: 27. The Internet c. _______________ is the vast and burgeoning global web of computer networks which links computer users of all types around the world. Micronet b. Connections with the World Around Us Answer: (b) Difficulty: (1) Page: 27. Connections with Customers b. the computer manufacturer. A focus on “share of market. profitable customers are rapidly becoming a thing of the past. and locational groups. mix network b. they are forming themselves into consumer communities. supply chain c. c. Wal-Mart has a policy of EDLP (everyday low pricing) as a strategic weapon. A focus on removing customers.” Answer: (c) Difficulty: (3) Page: 30 54. b. retailers. d. social. because consumers are maintaining their diversity. shoppers at Land’s End can build a “virtual model” with their own hair color and use the model to aid in reviewing products for potential purchase. one-to-one marketing no longer works. consumer groups have blended to the extent that a marketer can not tell one consumer from another. The best illustration of direct marketing listed below would be: a. and others who sell the computers to businesses and final customers. which of the following is most likely the current trend? a. strategic alliance Answer: (b) Difficulty: (2) Page: 31 12 . Answer: (a) Difficulty: (3) Page: 30 55. most banks now sell automobile insurance. d. If the United States—and the world—has become a “salad bowl” of diverse ethnic. Ford Motor Company now designs all models of their popular pickups in at least 12 colors. A ___________ for personal computers consists of suppliers of computer chips and other components. b. b. A focus on current customer retention. cultural. c. Answer: (d) Difficulty: (3) Page: 27 53. c. d. a. With respect to connecting with customers. then one could say that: a.52. and the distributors. A focus on finding new customers. relationship channel d. ” c. “Outsource Everything. With respect to connections with customers.” Answer: (c) Difficulty: (2) Page: 33 58. a social marketing campaign b. relationship marketing thinking Answer: (b) Difficulty: (2) Page: 36. the old marketing thinking c.56. and enlists the aid of campus groups to aid with these social problems. “Think Locally. Which of the following phrases would best describe the current attitude about connections with the world around us? a. mix network b. “America First. and make standardized products would be examples of which form of thinking? a. this would be an example of which of the following? a. If a university or college posts antismoking and antidrinking materials at strategic locations. supply management c. serve any customer. a sales promotional marketing campaign Answer: (a) Difficulty: (1) Page: 35 59. a relationship marketing campaign d.” d. Dell Computer recently ran advertisements telling how it partners with Microsoft and Intel to provide customized e-business solutions. strategic alliance Answer: (d) Difficulty: (3) Page: 32 57. takes out ads in the university or college newspaper. global marketing d. Table 1-1 13 .” b. relationship channel d. “Let the buyer beware. be sales and product centered. This would be an example of which of the following? a. Act Globally. the new marketing thinking b. an ethical marketing campaign c. global marketing d. Marketing is really only selling and advertising.60. and 60 assuming social and environmental responsibility would be examples of which form of thinking? a. Selling is the delivery of customer satisfaction at a profit. 6. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Answer: (True) Difficulty: (1) Page: 5 14 . Answer: (False) Difficulty: (2) Page: 5 67. the old marketing thinking c. Answer: (True) Difficulty: (2) Page: 4 63. The first of the core marketing concepts that should be explored by the marketer wishing to do business is needs. Answer: (False) Difficulty: (2) Page: 4 62. Selling is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. A want is a state of felt deprivation. Answer: (False) Difficulty: (2) Page: 5 64. Table 1-1 TRUE/FALSE QUESTIONS 61. Human wants that are backed by buying power are called demands. wants. Answer: (True) Difficulty: (2) Page: 5. and demands. conducting e-commerce in marketspaces. Answer: (False) Difficulty: (2) Page: 5 65. Marketing locally and globally. Figure 1-1 66. the new marketing thinking b. relationship marketing thinking Answer: (a) Difficulty: (2) Page: 36. One party gives X to another party and gets Y in return. Answer: (True) Difficulty: (1) Page: 6 69. people at all levels—including top management—stay close to customers. Answer: (False) Difficulty: (3) Page: 17 77. The primary concept used in selling unsought goods such as encyclopedias or insurance is the product concept. Answer: (False) Difficulty: (3) Page: 14. The concept of a product is limited to physical objects.68. Answer: (False) Difficulty: (2) Page: 20 15 . A demand is anything that can be offered to a market to satisfy a need or want. Marketing myopia occurs when sellers are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs. This would be an example of a transaction. Answer: (True) Difficulty: (2) Page: 16 76. If a company used $10 million on television advertising. Marketing to reduce demand temporarily or permanently is called demarketing. 16 75. Answer: (False) Difficulty: (2) Page: 7 70. The concepts of exchange and relationships lead to the concept of demarketing. the company would be employing the marketing practice of interpreneurial marketing. Answer: (False) Difficulty: (3) Page: 8 73. The difference between the values the customer gains from owning and using a product and the costs of obtaining the product is called customer satisfaction. a sales force of 200 people. In outstanding companies. Answer: (False) Difficulty: (1) Page: 7 71. Answer: (True) Difficulty: (3) Page: 8 72. Answer: (True) Difficulty: (1) Page: 12 74. and had a marketing department to coordinate and further marketing efforts. 5. worldwide economic problems. Table 1-1 82. Marketing locally and globally would be part of the new marketing thinking as applied to connections with the world around us. and neglected social services. The selling concept takes an “inside-out” perspective toward the exchange process. Answer: (True) Difficulty: (1) Page: 36. meeting social needs of consumers. increasing consumer choice. List and briefly discuss the core marketing concepts. connecting for life. rapid population growth. Answer: Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. Answer: (False) Difficulty: (2) Page: 36. Connecting more selectively. 16 . resource shortages. Answer: (True) Difficulty: (2) Page: 21 79. Difficulty: (2) Page: 4. Keeping old customers would be a part of the old marketing thinking as applied to connections with customers. Table 1-1 ESSAY QUESTIONS 83. developing markets. transactions. Answer: (True) Difficulty: (2) Page: 27. creating products. Figure 1-5 81. and connecting directly are all characteristics connections with customers. wants. aiding in the facilitation of exchanges. and demands (of a variety of types). Economic roles include: meeting needs. All of these concepts are important to understanding the definition of marketing. Answer: (False) Difficulty: (2) Page: 22 80. and mutually beneficial relationships. and providing fair profits for business organizations. The production concept questions whether the pure marketing concept is adequate in an age of environmental problems.78. Define marketing and discuss its role in the economy. Figure 1-1 and associated text 84. creating value and satisfaction. Marketing management recognizes that customers have a lifetime value and seek to maintain the customer relationship as an important organizational objective. (d) Nike is developing new product lines (especially those demanded by the consumers). Marketing at Work 1-1 86. and experiences. the company earns a profit for its labors. As shown in the discussion provided in the chapter. services. and quality. planning. Difficulty: (2) Page: 15 17 . Answer: Nike seems to care as much about its customers’ lives as their bodies. Difficulty: (2) Page: 5-14.Answer: The core marketing concepts can be seen in Figure 1-1. and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. (f) Nike is de-emphasizing the swoosh (the emphasis is on quality and consumer fit rather than bigness and advertising muscle). (g) Nike is entering new markets aggressively (especially overseas). Define and describe the marketing management concept. it promotes sports for the benefit of all. These key concepts are linked and form the basis by which marketing is understood and practiced. b) products. Figure 1-1 and associated text 85. By doing this correctly. (c) Nike is focusing on innovations (especially those demanded by the consumers). They are listed as: a) needs. List and briefly discuss three ways Nike has demonstrated that they care about their customers. and e) markets. wants. marketing management seeks to manage demand efficiently and effectively so as to help consumers obtain value in their transactions with the company. Difficulty: (2) Page: 9. and control of programs designed to create. implementation. transactions. 10. c) value. Ways that the company demonstrates that it cares are: (a) It doesn’t just promote sales. Answer: Marketing management is the analysis. All of these moves were prompted by suggestions and recommendations from consumers. d) exchange. (b) Nike invests in a wide range of lesser-known sports. build. even though they provide less lucrative marketing opportunities. satisfaction. and demands. and relationships. (e) The company is creating sub-brands that often focus outside traditional Nike boundaries (such as hiking shoes and gear). e). Difficulty: (2) Page: 17 88. Intrepreneurial marketing—many large and mature companies get stuck in formulated marketing. Production Concept: Consumers favor products that are available and highly affordable. Societal Marketing Concept: The company determines customer needs and wants and society’s best interest. These companies sometimes lose their marketing creativity and passion. performance. the organization should devote its energy to making continuous product improvements. Answer: The stages may be listed as: 1). Be sure to indicate the key components of each philosophy. This concept can lead to marketing myopia if not watched. Carefully list and then compare the five marketing management philosophies. they inevitably move toward more formulated marketing. sales forces. b). They visualize an opportunity and knock on every door to gain attention. Most firms practice this concept when they have overcapacity. Therefore. Answer: a). d). Management should focus on improving production and distribution efficiency. 3). Difficulty: (3) Page: 19-23 18 . Conflicts in this concept are usually between short-run wants versus long-term gains in welfare. the organization must undertake a large-scale selling and promotion effort. Entrepreneurial marketing—most companies are started by individuals who live by their wits. Marketing practice often passes through three stages. and marketing departments to achieve their goals and objectives. pouring over the latest reports and doing research to fine-tune their efforts. Marketing Concept: Delivering the needs and wants more efficiently than the competition. They now need to re-establish within their companies the entrepreneurial spirit and actions that made them successful in the first place. and innovative features. This is an “outside-in” perspective as opposed to the selling concept’s “inside-out” perspective. Selling Concept: Consumers will not normally buy enough products on their own. Formulated marketing—as small companies achieve success. c). The production concept is still useful in two types of situations: (1) when the demand for a product exceeds the supply (management should look for ways to increase production) and (2) when the product’s cost is too high (improved productivity is needed to bring it down). 2). They use television advertising. List and briefly describe each of these stages. Product Concept: Consumers favor products that offer the most value.87. therefore. how it might relate to the concept of relationship marketing. You have just been hired by Blue Flash Water Corporation to administer a relationship marketing program for the company. non-carbonated. and transportation). connections with marketing partners. Connections with the World Around Us—considerations are global connections. good service. The comparisons and contrasts are shown in Table 1-1. Connections with Marketing Partners—considerations are connecting with other company departments. The new connected millennium has brought about changes for the marketing function. and designate the components of a what you perceive to be a marketing network for Blue Flash Water Corporation.89. The company’s desire is to build strong economic and social ties to customers by promising and consistently delivering high-quality products. 2). 19 . Connections with Customers—considerations are connecting more selectively. connecting for life. information. Compare and contrast the old marketing thinking versus the new marketing thinking using the connection forms suggested in the chapter. Using connecting technologies (computer. Table 1-1 APPLICATION QUESTION 91. marketers are seeking to connect in three ways. Marketing connections are in transition. and connecting directly. they should be required to demonstrate the differences between the two forms of thinking and what the ramifications of these two paths might be for marketing in the future. bottled drinking water product to grocery and convenience stores in the southwestern United States. and connecting through strategic alliances. communication. 3). and broadened connections. Blue Flash wants you to build a marketing network for them. Answer: Students should apply connections with customers. List and describe these three connections. connections with values and responsibilities. Difficulty: (3) Page: 26-35. and connections with the world around us to the old marketing thinking and the new marketing thinking. The company manufactures and distributes a purity-guaranteed. In order to do this. Figure 1-5 90. However. Difficulty: (3) Page: 36. Students should not be required to list all of these comparisons and contrasts. and fair prices. Write down your ideas on what a marketing network is. Answer: The three connections are listed as: 1). connecting with suppliers and distributors. structural ties. Tools that the marketer might use to develop stronger bonds with consumers might be to add or increase financial benefits. These would be the customers. employees. and others with whom it has built mutually profitable business relationships. Today. Difficulty: (2) Page: 12 and associated text 20 . companies want to build a unique company asset called a marketing network. consider where the company gets its purified water (suppliers). Structure can be given to this arrangement at the discretion of the instructor. Students should describe customers (for the bottled water market). and make sure that all customers are profitable customers. consider how dedicated employees might aid in the formation of relationships. This question should not be attempted unless the students have been exposed to the concepts of relationship marketing and a marketing network. profits will follow for all. If they have. the question’s answers should be somewhat similar to the information indicated below. retailers. A marketing network consists of the company and all its supporting stakeholders. suppliers. and the ad agencies that have designed themes for the water (how could the Blue Flash name be used). social benefits. ad agencies. distributors. The idea behind relationship marketing through a marketing network is that if a company builds a good network of relationships with key stakeholders. the retailers (outlets) that carry the product. marketers need to build long-term relationships with valued customers. According to the text. beyond creating short-term transactions. dealers. distributors.Answer: Students should be allowed to be creative with this question. how it distributes the water. and suppliers. The objective is to get the student familiar with the components of a relationship marketing effort and the stakeholders of a marketing network.