Exam 1: Creating Customer Relationships and Value Through Marketing

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best

Which of the following statements about relationship marketing is most accurate?

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Pending federal legislation will require all online retailers to collect state sales taxes from customers.This would affect online sellers such as Virtual Vineyards,which now only collects state sales taxes from customers who reside in California-its home state.This pending legislation would be an example of which environmental force?

Which element of the marketing mix is demonstrated when Mars,Inc.has a sale on M&MS brand candies?

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well-being is known as

The five major environmental forces in a marketing decision are

For marketing to occur,there must be two or more parties with unsatisfied needs.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

The element of the marketing mix that describes what is exchanged for a product is known as

The linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit is referred to as

In the 19^th century,the belief was that production creates its own demand.By the early 20^th century,American companies began to produce more goods than buyers could consume.At the same time,competition became more significant.The usual solution was to hire more salespeople to find new buyers.This describes the __________ era.

The marketing mix refers to

During October,kiosk or "pop-up" stores often appear in many malls for the holiday season.Typically,these kiosks sell gift boxes of cheese,jewelry,and other items people think are appropriate seasonal gifts.In January,these "pop-up" retailers vanish.Is it possible for such a retailer to use relationship marketing? Explain your answer.

Which of the following statements about 3M's market research prior to introducing the Post-it Flag Highlighter is most accurate?

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history).Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

A customer value proposition is

A college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,the student sees a classmate driving a Lexus sports coupe and feels he just has to have one for himself.What factor is MOST LIKELY to prevent a successful marketing exchange between the student and a Lexus dealer?

An organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments; and (3)using it to create customer value is said to have a