Question 1

Define Customer Relationship Management and explain its associated tools and levels of relationships.

Accepted Answer

Customer Relationship Management (CRM)is

Question 2

Which of the following reflects the marketing concept philosophy?

Accepted Answer

A) "We don't have a marketing department;we have a customer department." 
B) "When it's profits versus customers' needs,profits will always win out." 
C) "We build them so you can buy them." 
D) "We're in the business of making and selling superior products." 
E) "You won't find a better deal anywhere." 
A) "We don't have a marketing department;we have a customer department." 
B) "When it's profits versus customers' needs,profits will always win out." 
C) "We build them so you can buy them." 
D) "We're in the business of making and selling superior products." 
E) "You won't find a better deal anywhere."

Question 3

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."
-Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the _ concept.

Accepted Answer

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

Question 4

When backed by buying power,needs become wants.

Accepted Answer

A) True 
 B)False

Question 5

Which customer question is answered by a company's value proposition?

Accepted Answer

A) "How does your brand benefit society?" 
B) "What kind of experience will I have with products and services associated with this brand?" 
C) "Why should I buy your brand rather than a competitor's?" 
D) "What are the benefits of being a loyal consumer of your brand?" 
E) "What are the costs and benefits of your brand?" 
A) "How does your brand benefit society?" 
B) "What kind of experience will I have with products and services associated with this brand?" 
C) "Why should I buy your brand rather than a competitor's?" 
D) "What are the benefits of being a loyal consumer of your brand?" 
E) "What are the costs and benefits of your brand?"

Question 6

A firm that uses the selling concept takes a(n)_ _ approach.

Accepted Answer

A) inside- out 
B) customer service 
C) passive 
D) societal 
E) outside- in 
A) inside- out 
B) customer service 
C) passive 
D) societal 
E) outside- in

Question 7

When the economy tightens,customer loyalty and customer retention become for marketers.

Accepted Answer

A) less important 
B) short- term but not long- term goals 
C) more important 
D) impossible 
E) long- term but not short- term goals 
A) less important 
B) short- term but not long- term goals 
C) more important 
D) impossible 
E) long- term but not short- term goals

Question 8

Pete Sanchez,a recent graduate of business school,has a different approach than his marketing manager,who believes in keeping customers at arm's length and using mass media advertising.Pete knows that today few successful firms still practice true .

Accepted Answer

A) customer satisfaction 
B) mass marketing 
C) market segmentation 
D) club marketing 
E) frequency marketing 
A) customer satisfaction 
B) mass marketing 
C) market segmentation 
D) club marketing 
E) frequency marketing

Question 9

When backed by buying power,wants become .

Accepted Answer

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

Question 10

Which version of the Web has introduced small,fast,and customizable applications that can be accessed through multifunction mobile devices?

Accepted Answer

A) Web 5.0 
B) Web 1.0 
C) Web 4.0 
D) Web 3.0 
E) Web 2.0 
A) Web 5.0 
B) Web 1.0 
C) Web 4.0 
D) Web 3.0 
E) Web 2.0

Define Customer Relationship Management and explain its associated tools and levels of relationships.

Which of the following reflects the marketing concept philosophy?

When backed by buying power,needs become wants.

Which customer question is answered by a company's value proposition?

A firm that uses the selling concept takes a(n)_ _ approach.

When the economy tightens,customer loyalty and customer retention become for marketers.

Pete Sanchez,a recent graduate of business school,has a different approach than his marketing manager,who believes in keeping customers at arm's length and using mass media advertising.Pete knows that today few successful firms still practice true .

When backed by buying power,wants become .

Which version of the Web has introduced small,fast,and customizable applications that can be accessed through multifunction mobile devices?

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

Define Customer Relationship Management and explain its associated tools and levels of relationships.

Which of the following reflects the marketing concept philosophy?

When backed by buying power,needs become wants.

Which customer question is answered by a company's value proposition?

A firm that uses the selling concept takes a(n)_ _ approach.

When the economy tightens,customer loyalty and customer retention become for marketers.

Pete Sanchez,a recent graduate of business school,has a different approach than his marketing manager,who believes in keeping customers at arm's length and using mass media advertising.Pete knows that today few successful firms still practice true .

When backed by buying power,wants become .

Which version of the Web has introduced small,fast,and customizable applications that can be accessed through multifunction mobile devices?

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