Question 1

Collectively,global brands account for the overwhelming majority of consumers' purchases.

Accepted Answer

A) True 
 B)False

Question 2

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

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 3

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

Accepted Answer

A) True 
 B)False

Question 4

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year.Dekko is using ________.

Accepted Answer

A) customer profitability analysis 
B) customer-managed relationships 
C) a club marketing program 
D) partner relationship management 
E) supply chain management 
A) customer profitability analysis 
B) customer-managed relationships 
C) a club marketing program 
D) partner relationship management 
E) supply chain management

Question 5

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.

Accepted Answer

A) full demand 
B) unwholesome demand 
C) latent demand 
D) overfull demand 
E) irregular demand 
A) full demand 
B) unwholesome demand 
C) latent demand 
D) overfull demand 
E) irregular demand

Question 6

If exchange is the core concept of marketing,then a(n)________ is marketing's core unit of measurement.

Accepted Answer

The answer of If exchange is the core concept of...

Question 7

The first four steps of the marketing process focus on ________.

Accepted Answer

A) understanding the market 
B) delivering customer service 
C) creating value for customers 
D) understanding customer demands and needs 
E) capturing value from customers 
A) understanding the market 
B) delivering customer service 
C) creating value for customers 
D) understanding customer demands and needs 
E) capturing value from customers

Question 8

Demands are human wants that are backed up by buying power.

Accepted Answer

A) True 
 B)False

Question 9

All of the following are accurate descriptions of modern marketing today,EXCEPT which one?

Accepted Answer

A) Marketing is the creation of value for customers. 
B) Marketing is managing profitable customer relationships. 
C) Selling and advertising are synonymous with marketing. 
D) Marketing involves satisfying customers' needs. 
E) Marketing is used by for-profit and not-for-profit organisations. 
A) Marketing is the creation of value for customers. 
B) Marketing is managing profitable customer relationships. 
C) Selling and advertising are synonymous with marketing. 
D) Marketing involves satisfying customers' needs. 
E) Marketing is used by for-profit and not-for-profit organisations.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

When sellers focus on existing needs and lose sight of underlying customer wants,they suffer from marketing myopia.

Accepted Answer

A) True 
 B)False

Question 12

A(n)________ is the set of all actual and potential buyers of a product.

Accepted Answer

The answer of A(n)________ is the set of all actual...

Question 13

It is most accurate to say that a customer will buy from the company that offers the highest ________.

Accepted Answer

A) value for the dollar 
B) customer-perceived value 
C) level of customer satisfaction 
D) company image 
E) concern for society's interests 
A) value for the dollar 
B) customer-perceived value 
C) level of customer satisfaction 
D) company image 
E) concern for society's interests

Question 14

________ are human needs as shaped by individual personality and culture.

Accepted Answer

A) Deprivations 
B) Wants 
C) Demands 
D) Values 
E) Exchanges 
A) Deprivations 
B) Wants 
C) Demands 
D) Values 
E) Exchanges

Question 15

Of the following,which is the most important concept of modern marketing?

Accepted Answer

A) customer relationship management 
B) e-mail advertising 
C) mass marketing 
D) properly trained sales people 
E) low prices 
A) customer relationship management 
B) e-mail advertising 
C) mass marketing 
D) properly trained sales people 
E) low prices

Question 16

Contemporary marketing practice is the responsibility of which group or groups of organisational employees?

Accepted Answer

A) marketing and finance 
B) sales and customer support 
C) information technology 
D) general management 
E) All of the above. 
A) marketing and finance 
B) sales and customer support 
C) information technology 
D) general management 
E) All of the above.

Question 17

Building and maintaining profitable value-laden relationships with customers of a company is called ________.

Accepted Answer

A) customer lifetime value 
B) customer perceived value 
C) customer relationship management 
D) database marketing 
E) societal marketing 
A) customer lifetime value 
B) customer perceived value 
C) customer relationship management 
D) database marketing 
E) societal marketing

Question 18

It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

Accepted Answer

A) True 
 B)False

Question 19

Online bookseller,Amazon.com,leverages relationships with its 35 million customers by offering them music,videos,gifts,toys,consumer electronics and office products,among other product items.Based on the customer's prior purchase history,the company recommends related CDs,books or videos that might be of interest.This helps Amazon.com capture a greater ________.

Accepted Answer

A) value proposition 
B) customer ownership 
C) share of customer 
D) social network 
E) market share 
A) value proposition 
B) customer ownership 
C) share of customer 
D) social network 
E) market share

Question 20

There are occasions when a firm should legitimately practice demarketing in order to manage its demand levels.

Accepted Answer

A) True 
 B)False

Collectively,global brands account for the overwhelming majority of consumers' purchases.

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year.Dekko is using ________.

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.

If exchange is the core concept of marketing,then a(n)________ is marketing's core unit of measurement.

The first four steps of the marketing process focus on ________.

Demands are human wants that are backed up by buying power.

All of the following are accurate descriptions of modern marketing today,EXCEPT which one?

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

When sellers focus on existing needs and lose sight of underlying customer wants,they suffer from marketing myopia.

A(n)________ is the set of all actual and potential buyers of a product.

It is most accurate to say that a customer will buy from the company that offers the highest ________.

________ are human needs as shaped by individual personality and culture.

Of the following,which is the most important concept of modern marketing?

Contemporary marketing practice is the responsibility of which group or groups of organisational employees?

Building and maintaining profitable value-laden relationships with customers of a company is called ________.

It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

There are occasions when a firm should legitimately practice demarketing in order to manage its demand levels.

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

Collectively,global brands account for the overwhelming majority of consumers' purchases.

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year.Dekko is using ________.

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.

If exchange is the core concept of marketing,then a(n)________ is marketing's core unit of measurement.

The first four steps of the marketing process focus on ________.

Demands are human wants that are backed up by buying power.

All of the following are accurate descriptions of modern marketing today,EXCEPT which one?

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

When sellers focus on existing needs and lose sight of underlying customer wants,they suffer from marketing myopia.

A(n)________ is the set of all actual and potential buyers of a product.

It is most accurate to say that a customer will buy from the company that offers the highest ________.

________ are human needs as shaped by individual personality and culture.

Of the following,which is the most important concept of modern marketing?

Contemporary marketing practice is the responsibility of which group or groups of organisational employees?

Building and maintaining profitable value-laden relationships with customers of a company is called ________.

It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

There are occasions when a firm should legitimately practice demarketing in order to manage its demand levels.

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