Question 1

In what ways might even a local retailer find itself touched by global competition?

Accepted Answer

A local retailer might have global suppl

Question 2

Which of the following reflects the marketing concept?

Accepted Answer

A) "This is what I make;won't you please buy it?" 
B) "Marketing should be viewed as foraging and not gardening." 
C) "Customers need to be told where they want to go." 
D) "The supplier is king." 
E) "This is what I want;won't you please make it?" 
A) "This is what I make;won't you please buy it?" 
B) "Marketing should be viewed as foraging and not gardening." 
C) "Customers need to be told where they want to go." 
D) "The supplier is king." 
E) "This is what I want;won't you please make it?"

Question 3

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

Accepted Answer

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

Question 4

In a short essay,discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

Accepted Answer

Through the Internet and related technol

Question 5

For most marketers,customer relationship management (CRM)is exclusively a matter of customer data management.

Accepted Answer

A) True 
 B)False

Question 6

You have just taken a new position in an organization and you're learning about the job functions of your new colleagues.You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships.Your marketing manager frequently speaks about the need to acquire,keep,and grow customers.Your manager is concerned with which one of the following?

Accepted Answer

A) partner relationship management 
B) customer relationship management 
C) customer divestment 
D) the societal marketing concept 
E) customer- managed relationships 
A) partner relationship management 
B) customer relationship management 
C) customer divestment 
D) the societal marketing concept 
E) customer- managed relationships

Question 7

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)_ perspective.

Accepted Answer

A) continuous improvement 
B) outside- in 
C) traditional 
D) external 
E) inside- out 
A) continuous improvement 
B) outside- in 
C) traditional 
D) external 
E) inside- out

Question 8

The marketing team at Bead Beautiful,a line of jewelry targeted at preteen girls,is meeting to formulate the products' value proposition.What should team members consider as they define a value proposition for Bead Beautiful?

Accepted Answer

In considering Bead Beautiful's value pr

Question 9

Consumer research,product development,communication,distribution,pricing,and service are all core activities.

Accepted Answer

A) production 
B) exchange 
C) marketing 
D) customer relationship management 
E) management 
A) production 
B) exchange 
C) marketing 
D) customer relationship management 
E) management

Question 10

Which of the following is an example of consumer- generated marketing?

Accepted Answer

A) Nike's Nike Plus running Web site 
B) The Lexus Covenant aimed at creating customer delight 
C) MasterCard's use of "Priceless" commercials shot by customers 
D) Neiman Marcus's InCircle Rewards program for its best customers 
E) Toyota's presence in online communities 
A) Nike's Nike Plus running Web site 
B) The Lexus Covenant aimed at creating customer delight 
C) MasterCard's use of "Priceless" commercials shot by customers 
D) Neiman Marcus's InCircle Rewards program for its best customers 
E) Toyota's presence in online communities

Question 11

Afia,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) barnacles 
B) true friends 
C) strangers 
D) short- term customers 
E) butterflies 
A) barnacles 
B) true friends 
C) strangers 
D) short- term customers 
E) butterflies

Question 12

Refer to the scenario below to answer the following questions.
Carol Veldt,owner of Seagull Terrace,watched her investment grow from a small,seaside motel to a thriving year- round resort in just a few years.Atop a bluff overlooking the Maine coast,Seagull Terrace had attracted thousands of visits during the summer months,but then faced a tremendous downturn in business during the winter months."But,given the industry in the nearby towns,very little year- round competition,and our close proximity to Portland," Carol added,"I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan.She put together a promotional package designed to attract business travelers year- round.Carol's plan,then,involved a seasonal promotional gimmick-to be implemented from early winter to late spring-that would attract the same numbers as the large summer crowd.Her idea worked! During her second winter,Carol greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals.
"We still have a long way to go," Carol admitted."Our delicatessen offers delicious entrees,but we'd like to expand that.
We provide health club privileges off- site,but we'd like to eventually provide our own.These are goals I hope to achieve in a few years.Our first project,however,included a renovation of our guest rooms and I'm quite proud of the results." Carol then added,"Actually there are so many possibilities.With an indoor pool area,I will eventually offer weekend get- aways throughout winter."
-Which of the following groups is specifically part of Seagull Terrace's target market?

Accepted Answer

A) young families 
B) summer campers 
C) seasonal business travelers 
D) retirees 
E) athletes 
A) young families 
B) summer campers 
C) seasonal business travelers 
D) retirees 
E) athletes

Question 13

Explain how storing customer information in a database might better prepare car- maker Saturn in customer relationship management (CRM).

Accepted Answer

Managing detailed information about cust

Question 14

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

Accepted Answer

A) e- mail 
B) video sharing 
C) traditional advertising 
D) online social networks 
E) Web sites 
A) e- mail 
B) video sharing 
C) traditional advertising 
D) online social networks 
E) Web sites

Question 15

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

Accepted Answer

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

Question 16

Company X carries organizational and office supplies and follows the selling concept.Explain how Company X may lose sight of customer relationships with their marketing orientation.

Accepted Answer

The company's aim is to sell its supplie

Question 17

Which of the following has been the most common consumer response to the economic downturn that began in 2008?

Accepted Answer

A) spending less but choosing products less carefully 
B) saving more but spending more on credit cards 
C) spending more on luxury items 
D) discontinuing any spending on luxury items 
E) spending less and choosing products more carefully 
A) spending less but choosing products less carefully 
B) saving more but spending more on credit cards 
C) spending more on luxury items 
D) discontinuing any spending on luxury items 
E) spending less and choosing products more carefully

Question 18

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 19

Which of the following best explains why consumers have greater power and control in today's marketplace?

Accepted Answer

A) Through new communication technologies,customers have more access to information and more methods of sharing their opinions with other customers. 
B) More companies are implementing societal marketing and weighing long- term costs and benefits. 
C) Customer- driven marketing creates products and services that meet customers' future needs. 
D) The production concept and competition have lowered prices. 
E) Implementation of the product concept has resulted in continually improving products. 
A) Through new communication technologies,customers have more access to information and more methods of sharing their opinions with other customers. 
B) More companies are implementing societal marketing and weighing long- term costs and benefits. 
C) Customer- driven marketing creates products and services that meet customers' future needs. 
D) The production concept and competition have lowered prices. 
E) Implementation of the product concept has resulted in continually improving products.

Question 20

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

Accepted Answer

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

In what ways might even a local retailer find itself touched by global competition?

Which of the following reflects the marketing concept?

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

In a short essay,discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

For most marketers,customer relationship management (CRM)is exclusively a matter of customer data management.

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)_ perspective.

The marketing team at Bead Beautiful,a line of jewelry targeted at preteen girls,is meeting to formulate the products' value proposition.What should team members consider as they define a value proposition for Bead Beautiful?

Consumer research,product development,communication,distribution,pricing,and service are all core activities.

Which of the following is an example of consumer- generated marketing?

Explain how storing customer information in a database might better prepare car- maker Saturn in customer relationship management (CRM).

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

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

Company X carries organizational and office supplies and follows the selling concept.Explain how Company X may lose sight of customer relationships with their marketing orientation.

Which of the following has been the most common consumer response to the economic downturn that began in 2008?

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.

Which of the following best explains why consumers have greater power and control in today's marketplace?

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

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 what ways might even a local retailer find itself touched by global competition?

Which of the following reflects the marketing concept?

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

In a short essay,discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

For most marketers,customer relationship management (CRM)is exclusively a matter of customer data management.

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)_ perspective.

The marketing team at Bead Beautiful,a line of jewelry targeted at preteen girls,is meeting to formulate the products' value proposition.What should team members consider as they define a value proposition for Bead Beautiful?

Consumer research,product development,communication,distribution,pricing,and service are all core activities.

Which of the following is an example of consumer- generated marketing?

Explain how storing customer information in a database might better prepare car- maker Saturn in customer relationship management (CRM).

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

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

Company X carries organizational and office supplies and follows the selling concept.Explain how Company X may lose sight of customer relationships with their marketing orientation.

Which of the following has been the most common consumer response to the economic downturn that began in 2008?

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.

Which of the following best explains why consumers have greater power and control in today's marketplace?

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

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