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2 months ago

Question 1.

New terms are now being used to describe where marketing is done. Using the automobile market, describe automotive buying behavior for a: (1) marketplace, (2) marketspace, and (3) metamarket.

Question 2.

Identify the five key functions of the CMO in leading marketing within the organization.
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Marketing Management
Edition: 13th
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Answer 1

Responses to this question should include a reference to the following: (1) marketplace—shopping for an automobile at a dealer's lot, (2) marketspace—shopping for an automobile via the Internet, eBay, or even designing your own car via a manufacturer's Web site, and (3) metamarket—(a cluster of complementary products and services that are closely related in the customer's mind but are spread across a diverse set of industries) that might include insurance companies, the racing industry, the travel industry, the customization industry, et cetera. Individual answers might vary.

Answer 2

The five key functions of the CMO in leading marketing within the organization are: (1) strengthening brands, (2) measuring marketing effectiveness, (3) driving new-product development based on customer needs, (4) getting meaningful customer insights, (5) utilizing new marketing technology.
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