Question 1

Which of the following is a characteristic of customer-driven marketing?

Accepted Answer

A)  Companies understand customer needs even better than customers themselves do. 
B)  Customers are unaware of their needs. 
C)  Products are created that meet both existing and latent needs, now and in the future. 
D)  Customers know what they want. 
E)  Customers don't know what is possible. 
A)  Companies understand customer needs even better than customers themselves do. 
B)  Customers are unaware of their needs. 
C)  Products are created that meet both existing and latent needs, now and in the future. 
D)  Customers know what they want. 
E)  Customers don't know what is possible.

Question 2

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

Accepted Answer

"Butterflies" are profitable but not loy

Question 3

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

Accepted Answer

A) True 
 B)False

Question 4

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 5

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Accepted Answer

A)  promotion mix 
B)  product mix 
C)  marketing mix 
D)  market offering 
E)  marketing effort 
A)  promotion mix 
B)  product mix 
C)  marketing mix 
D)  market offering 
E)  marketing effort

Question 6

Human needs are shaped by culture and individual personality.

Accepted Answer

A) True 
 B)False

Question 7

Market offerings are limited to physical products.

Accepted Answer

A) True 
 B)False

Question 8

As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________.

Accepted Answer

A)  taking a local view of their industry 
B)  purchasing more supplies abroad 
C)  reducing competition within their industry 
D)  downplaying concerns for social responsibility 
E)  competing solely in traditional marketplaces 
A)  taking a local view of their industry 
B)  purchasing more supplies abroad 
C)  reducing competition within their industry 
D)  downplaying concerns for social responsibility 
E)  competing solely in traditional marketplaces

Question 9

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Accepted Answer

A)  outside-in perspective 
B)  product-centered make-and-sell philosophy 
C)  inside-out perspective 
D)  consumer-generated marketing approach 
E)  telling-and-selling approach 
A)  outside-in perspective 
B)  product-centered make-and-sell philosophy 
C)  inside-out perspective 
D)  consumer-generated marketing approach 
E)  telling-and-selling approach

Question 10

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

Accepted Answer

A)  societal marketing 
B)  the production concept 
C)  the selling concept 
D)  partner relationship management 
E)  consumer-generated marketing 
A)  societal marketing 
B)  the production concept 
C)  the selling concept 
D)  partner relationship management 
E)  consumer-generated marketing

Question 11

________ is one of the best ways to increase share of customer.

Accepted Answer

A)  Targeting new customers 
B)  Using bait and switch 
C)  Cross-selling 
D)  Divesting 
E)  Partnership marketing 
A)  Targeting new customers 
B)  Using bait and switch 
C)  Cross-selling 
D)  Divesting 
E)  Partnership marketing

Question 12

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Accepted Answer

A)  customer lock-in 
B)  a cartel 
C)  marketing mix 
D)  value proposition 
E)  market segmentation 
A)  customer lock-in 
B)  a cartel 
C)  marketing mix 
D)  value proposition 
E)  market segmentation

Question 13

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

Accepted Answer

A) True 
 B)False

Question 14

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

Accepted Answer

A)  environmentalism 
B)  social responsibility 
C)  the selling concept 
D)  partner relationship management 
E)  marketing myopia 
A)  environmentalism 
B)  social responsibility 
C)  the selling concept 
D)  partner relationship management 
E)  marketing myopia

Question 15

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

Accepted Answer

A) True 
 B)False

Question 16

In which of the following situations has a company most actively embraced customer-managed relationships?

Accepted Answer

A)  American Airlines awards frequent flyer points to returning customers. 
B)  Paige Premium Denim jeans provide superior quality and perfect fit. 
C)  iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner. 
D)  Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group. 
E)  Toyota develops a marketing presence on social networks and other online communities. 
A)  American Airlines awards frequent flyer points to returning customers. 
B)  Paige Premium Denim jeans provide superior quality and perfect fit. 
C)  iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner. 
D)  Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group. 
E)  Toyota develops a marketing presence on social networks and other online communities.

Question 17

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

Accepted Answer

A) True 
 B)False

Question 18

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Accepted Answer

Customer satisfaction cannot be taken fo

Question 19

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Accepted Answer

A)  Customer-driven 
B)  Customer-driving 
C)  Affinity 
D)  Societal 
E)  Ambush 
A)  Customer-driven 
B)  Customer-driving 
C)  Affinity 
D)  Societal 
E)  Ambush

Question 20

The art and science of choosing target markets and building profitable relationships with them is called ________.

Accepted Answer

A)  marketing management 
B)  positioning 
C)  marketing mix 
D)  market offering 
E)  differentiation 
A)  marketing management 
B)  positioning 
C)  marketing mix 
D)  market offering 
E)  differentiation

Which of the following is a characteristic of customer-driven marketing?

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

Marketing is managing profitable customer relationships.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Human needs are shaped by culture and individual personality.

Market offerings are limited to physical products.

As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________.

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

________ is one of the best ways to increase share of customer.

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

In which of the following situations has a company most actively embraced customer-managed relationships?

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

The art and science of choosing target markets and building profitable relationships with them is called ________.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 1: Marketing: Creating Customer Value and Engagement

Which of the following is a characteristic of customer-driven marketing?

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

Marketing is managing profitable customer relationships.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Human needs are shaped by culture and individual personality.

Market offerings are limited to physical products.

As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________.

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

________ is one of the best ways to increase share of customer.

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

In which of the following situations has a company most actively embraced customer-managed relationships?

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

The art and science of choosing target markets and building profitable relationships with them is called ________.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters