Question 1

________ are human wants backed by buying power.

Accepted Answer

The answer of ________ are human wants backed by buying...

Question 2

Which of the following are elements of a modern marketing system?

Accepted Answer

A) suppliers 
B) company and competitors 
C) marketing intermediaries 
D) consumers and buyers 
E) All of the above. 
A) suppliers 
B) company and competitors 
C) marketing intermediaries 
D) consumers and buyers 
E) All of the above.

Question 3

Which of the following is most essential to any definition of marketing?

Accepted Answer

A) demand management 
B) the production concept 
C) customer relationships 
D) making a sale 
E) making a profit 
A) demand management 
B) the production concept 
C) customer relationships 
D) making a sale 
E) making a profit

Question 4

Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs.

Accepted Answer

A) True 
 B)False

Question 5

When backed by purchasing power,wants become ________.

Accepted Answer

A) social needs 
B) demands 
C) physical needs 
D) self-esteem needs 
E) exchanges 
A) social needs 
B) demands 
C) physical needs 
D) self-esteem needs 
E) exchanges

Question 6

The cost of attracting new customers is thought to be ________ than the cost of retaining existing customers.

Accepted Answer

A) two times higher 
B) five times higher 
C) ten times higher 
D) twenty times higher 
E) twenty-five times higher 
A) two times higher 
B) five times higher 
C) ten times higher 
D) twenty times higher 
E) twenty-five times higher

Question 7

A team leader in charge of customer relationship management is planning strategies for improving the profitability of her firm's least profitable but loyal customers.She is also examining methods for 'firing' customers in this group who cannot be made profitable.To which of the following customer relationship groups do these customers belong?

Accepted Answer

A) butterflies 
B) true friends 
C) strangers 
D) barnacles 
E) None of the above. 
A) butterflies 
B) true friends 
C) strangers 
D) barnacles 
E) None of the above.

Question 8

A customer-centred organisation seeks to maximise customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 9

A company with many low-margin customers may seek to develop ________ relationships with customers while companies operating in markets with few customers and high margins want to create ________ partnerships with key customers.

Accepted Answer

The answer of A company with many low-margin customers may...

Question 10

You are an assistant marketing manager for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

Accepted Answer

A) full partnerships 
B) basic relationships 
C) club programs 
D) selective relationships 
E) community relationships 
A) full partnerships 
B) basic relationships 
C) club programs 
D) selective relationships 
E) community relationships

Question 11

The ultimate aim of customer relationship management is to produce ________.

Accepted Answer

A) high customer equity 
B) high current market share 
C) steady sales volume 
D) a reliable database 
E) higher sales volume 
A) high customer equity 
B) high current market share 
C) steady sales volume 
D) a reliable database 
E) higher sales volume

Question 12

The ________ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program.

Accepted Answer

The answer of The ________ concept holds that consumers won't...

Question 13

One of the challenges facing marketers as we move into the future is market ________ in many industries.

Accepted Answer

The answer of One of the challenges facing marketers as...

Question 14

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell.By promoting a company culture that values exceptional value and service,Shania aims to create ________ by going beyond the expected.

Accepted Answer

A) customer delight 
B) customer satisfaction 
C) customer equity 
D) customer value 
E) customer loyalty 
A) customer delight 
B) customer satisfaction 
C) customer equity 
D) customer value 
E) customer loyalty

Question 15

Human ________ are states of felt deprivation.

Accepted Answer

The answer of Human ________ are states of felt deprivation....

Question 16

Wendy purchased Brand X hand lotion.In comparing her perception of how the lotion performed to her expectations for such a lotion,she was measuring her level of ________.

Accepted Answer

A) customer perceived value 
B) customer satisfaction 
C) exchange 
D) demand 
E) customer lifetime value 
A) customer perceived value 
B) customer satisfaction 
C) exchange 
D) demand 
E) customer lifetime value

Question 17

A highly profitable,short-term customer is a ________.

Accepted Answer

A) true friend 
B) butterfly 
C) stranger 
D) barnacle 
E) true believer 
A) true friend 
B) butterfly 
C) stranger 
D) barnacle 
E) true believer

Question 18

________ is the total combined customer lifetime values of all the company's current and potential customers.

Accepted Answer

A) Share of customer 
B) Customer lifetime value 
C) Customer equity 
D) Profitability 
E) Share of market 
A) Share of customer 
B) Customer lifetime value 
C) Customer equity 
D) Profitability 
E) Share of market

Question 19

Customer-perceived value depends on the product's perceived performance relative to a buyer's expectations.

Accepted Answer

A) True 
 B)False

Question 20

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Accepted Answer

A) True 
 B)False

________ are human wants backed by buying power.

Which of the following are elements of a modern marketing system?

Which of the following is most essential to any definition of marketing?

Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs.

When backed by purchasing power,wants become ________.

The cost of attracting new customers is thought to be ________ than the cost of retaining existing customers.

A customer-centred organisation seeks to maximise customer satisfaction.

A company with many low-margin customers may seek to develop relationships with customers while companies operating in markets with few customers and high margins want to create partnerships with key customers.

You are an assistant marketing manager for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

The ultimate aim of customer relationship management is to produce ________.

The ________ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program.

One of the challenges facing marketers as we move into the future is market ________ in many industries.

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell.By promoting a company culture that values exceptional value and service,Shania aims to create ________ by going beyond the expected.

Human ________ are states of felt deprivation.

Wendy purchased Brand X hand lotion.In comparing her perception of how the lotion performed to her expectations for such a lotion,she was measuring her level of ________.

A highly profitable,short-term customer is a ________.

________ is the total combined customer lifetime values of all the company's current and potential customers.

Customer-perceived value depends on the product's perceived performance relative to a buyer's expectations.

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services and Brands: Building Customer Value

Developing New Products and Managing the Product

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters

Exam 1: Marketing: Creating and Capturing Customer Value

________ are human wants backed by buying power.

Which of the following are elements of a modern marketing system?

Which of the following is most essential to any definition of marketing?

Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs.

When backed by purchasing power,wants become ________.

The cost of attracting new customers is thought to be ________ than the cost of retaining existing customers.

A customer-centred organisation seeks to maximise customer satisfaction.

A company with many low-margin customers may seek to develop ________ relationships with customers while companies operating in markets with few customers and high margins want to create ________ partnerships with key customers.

You are an assistant marketing manager for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

The ultimate aim of customer relationship management is to produce ________.

The ________ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program.

One of the challenges facing marketers as we move into the future is market ________ in many industries.

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell.By promoting a company culture that values exceptional value and service,Shania aims to create ________ by going beyond the expected.

Human ________ are states of felt deprivation.

Wendy purchased Brand X hand lotion.In comparing her perception of how the lotion performed to her expectations for such a lotion,she was measuring her level of ________.

A highly profitable,short-term customer is a ________.

________ is the total combined customer lifetime values of all the company's current and potential customers.

Customer-perceived value depends on the product's perceived performance relative to a buyer's expectations.

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services and Brands: Building Customer Value

Developing New Products and Managing the Product

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters

A company with many low-margin customers may seek to develop relationships with customers while companies operating in markets with few customers and high margins want to create partnerships with key customers.