overview 2

1. A company experiencing excess demand for its services during peak hours decides to raise prices and reduce advertising to manage client volume. According to customer-driven marketing strategy concepts, this practice is known as: (1 pt)

2. Identify the final step of the five-step marketing process model and contrast its primary purpose with that of the first four steps. (3 pts)

3. Compare and contrast the 'product concept' and the 'marketing concept' as marketing management orientations. (3 pts)

4. Define 'marketing myopia' and explain why it poses a risk to a firm's long-term success. (3 pts)

5. According to the societal marketing concept, what three key factors must a company balance when making marketing decisions? (3 pts)

6. Define Customer Relationship Management (CRM) as presented in the material and identify the two fundamental components needed to achieve it. (3 pts)