Question 1

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

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

An experience such as a vacation can be defined as a market offering.

Accepted Answer

A) True 
 B)False

Question 4

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practicing the selling concept.

Accepted Answer

A) True 
 B)False

Question 5

Web 1.0 connected people with information,and Web 2.0 is connecting people to multifunction mobile devices.

Accepted Answer

A) True 
 B)False

Question 6

When demand for Beanie Babies was at its highest,manufacturers purposefully maintained strong demand by limiting supply,which drove the price of Beanie Babies up.Compare the actions of these manufacturers to the production concept.

Accepted Answer

The production concept holds that consum

Question 7

How can a marketer increase "share of customer"?

Accepted Answer

The marketer can offer greater

Question 8

The societal marketing concept seeks to establish a balance between consumer short- run wants and consumer .

Accepted Answer

A) short- run costs and profits 
B) immediate health 
C) short- run ethics 
D) value propositions 
E) long- run welfare 
A) short- run costs and profits 
B) immediate health 
C) short- run ethics 
D) value propositions 
E) long- run welfare

Question 9

Which of the following statements about the Internet is most accurate?

Accepted Answer

A) Web 2.0 involves a less balanced approach to online marketing than the original dot- com boom did. 
B) Companies are cautiously using the Internet to build closer relationships with customers and marketing partners alike. 
C) After the dot- com meltdown of 2000,fewer consumers are buying products and services online. 
D) Consumer e- commerce looks promising,but business- to- business e- commerce is declining. 
E) The Internet makes it easy for consumers to view,interact with,and create marketing content. 
A) Web 2.0 involves a less balanced approach to online marketing than the original dot- com boom did. 
B) Companies are cautiously using the Internet to build closer relationships with customers and marketing partners alike. 
C) After the dot- com meltdown of 2000,fewer consumers are buying products and services online. 
D) Consumer e- commerce looks promising,but business- to- business e- commerce is declining. 
E) The Internet makes it easy for consumers to view,interact with,and create marketing content.

Question 10

Amy's law office has developed a new format and wording for wills.The staff believes they offer the most in quality,performance,and innovative features.Her law office is practicing the production concept.

Accepted Answer

A) True 
 B)False

Question 11

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.Which type of customers have the highest profit potential and strong loyalty?

Accepted Answer

A) butterflies 
B) big fish 
C) strangers 
D) true friends 
E) barnacles 
A) butterflies 
B) big fish 
C) strangers 
D) true friends 
E) barnacles

Question 12

How is marketing being applied in the not- for- profit sector?

Accepted Answer

Firms in the not- for- profit sector use

Question 13

The difference between human needs and wants is that needs are not influenced by marketers.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

Accepted Answer

A) Customer- perceived value will increase. 
B) All customers will be delighted. 
C) The company will need to follow up with a service campaign. 
D) Not all customers will be satisfied. 
E) Customer evangelists will become unpaid salespersons for the service or product. 
A) Customer- perceived value will increase. 
B) All customers will be delighted. 
C) The company will need to follow up with a service campaign. 
D) Not all customers will be satisfied. 
E) Customer evangelists will become unpaid salespersons for the service or product.

Question 15

According to the production concept,consumers will favor products that are and .

Accepted Answer

A) available;affordable 
B) satisfying;quality focused 
C) in high demand;hard to find 
D) segmented;convenient 
E) advertised;affordable 
A) available;affordable 
B) satisfying;quality focused 
C) in high demand;hard to find 
D) segmented;convenient 
E) advertised;affordable

Question 16

At Gina's Nails,the posted policy is "Without our customers,we don't exist." Gina and her staff aim to delight each customer,and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied.Gina and her staff strive to make every customer a repeat customer.It is most accurate to say that instead of focusing on each individual transaction,Gina and her staff put a priority on .

Accepted Answer

A) attracting "butterflies" 
B) partner relationship management 
C) capturing customer lifetime value 
D) enlisting customer evangelists 
E) converting "strangers" 
A) attracting "butterflies" 
B) partner relationship management 
C) capturing customer lifetime value 
D) enlisting customer evangelists 
E) converting "strangers"

Question 17

Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well- being?

Accepted Answer

A) marketing concept 
B) equity concept 
C) selling concept 
D) product concept 
E) societal marketing concept 
A) marketing concept 
B) equity concept 
C) selling concept 
D) product concept 
E) societal marketing concept

Question 18

Customer- driven marketing usually works well when and when customers .

Accepted Answer

A) customers know what they want;are loyal to the brand 
B) a need exists;don't know what they want 
C) a firm can deliver the goods desired;are thoroughly researched 
D) a clear need exists;are difficult to identify 
E) a clear need exists;know what they want 
A) customers know what they want;are loyal to the brand 
B) a need exists;don't know what they want 
C) a firm can deliver the goods desired;are thoroughly researched 
D) a clear need exists;are difficult to identify 
E) a clear need exists;know what they want

Question 19

Henry Ford's philosophy was to perfect the Model- T so that its cost could be reduced further for increased consumer affordability.This reflects the concept.

Accepted Answer

A) societal marketing 
B) production 
C) product 
D) selling 
E) marketing 
A) societal marketing 
B) production 
C) product 
D) selling 
E) marketing

Question 20

Through _ _,many companies today are strengthening their connections to all partners,from providers of raw materials to components to final products that are delivered to final buyers.

Accepted Answer

A) partnership relationship marketing 
B) supply chain management 
C) equity marketing 
D) direct marketing 
E) customized marketing 
A) partnership relationship marketing 
B) supply chain management 
C) equity marketing 
D) direct marketing 
E) customized marketing

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

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

An experience such as a vacation can be defined as a market offering.

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practicing the selling concept.

Web 1.0 connected people with information,and Web 2.0 is connecting people to multifunction mobile devices.

When demand for Beanie Babies was at its highest,manufacturers purposefully maintained strong demand by limiting supply,which drove the price of Beanie Babies up.Compare the actions of these manufacturers to the production concept.

How can a marketer increase "share of customer"?

The societal marketing concept seeks to establish a balance between consumer short- run wants and consumer .

Which of the following statements about the Internet is most accurate?

Amy's law office has developed a new format and wording for wills.The staff believes they offer the most in quality,performance,and innovative features.Her law office is practicing the production concept.

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.Which type of customers have the highest profit potential and strong loyalty?

How is marketing being applied in the not- for- profit sector?

The difference between human needs and wants is that needs are not influenced by marketers.

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

According to the production concept,consumers will favor products that are and .

Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well- being?

Customer- driven marketing usually works well when and when customers .

Henry Ford's philosophy was to perfect the Model- T so that its cost could be reduced further for increased consumer affordability.This reflects the concept.

Through _ _,many companies today are strengthening their connections to all partners,from providers of raw materials to components to final products that are delivered to final buyers.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 1: Marketing: Creating and Capturing Customer Value

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

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

An experience such as a vacation can be defined as a market offering.

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practicing the selling concept.

Web 1.0 connected people with information,and Web 2.0 is connecting people to multifunction mobile devices.

When demand for Beanie Babies was at its highest,manufacturers purposefully maintained strong demand by limiting supply,which drove the price of Beanie Babies up.Compare the actions of these manufacturers to the production concept.

How can a marketer increase "share of customer"?

The societal marketing concept seeks to establish a balance between consumer short- run wants and consumer .

Which of the following statements about the Internet is most accurate?

Amy's law office has developed a new format and wording for wills.The staff believes they offer the most in quality,performance,and innovative features.Her law office is practicing the production concept.

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.Which type of customers have the highest profit potential and strong loyalty?

How is marketing being applied in the not- for- profit sector?

The difference between human needs and wants is that needs are not influenced by marketers.

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

According to the production concept,consumers will favor products that are and .

Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well- being?

Customer- driven marketing usually works well when and when customers .

Henry Ford's philosophy was to perfect the Model- T so that its cost could be reduced further for increased consumer affordability.This reflects the concept.

Through _ _,many companies today are strengthening their connections to all partners,from providers of raw materials to components to final products that are delivered to final buyers.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters