Question 1

Customers who are classified as true believers ________.

Accepted Answer

A)  are attracted to a company's competitor's deals and offers 
B)  have needs and wants that do not fit a company's offerings 
C)  are not very profitable for a company 
D)  tell others about their good experiences with a company 
E)  are projected to be less loyal to any brand 
A)  are attracted to a company's competitor's deals and offers 
B)  have needs and wants that do not fit a company's offerings 
C)  are not very profitable for a company 
D)  tell others about their good experiences with a company 
E)  are projected to be less loyal to any brand D

Question 2

When backed by buying power,wants become needs.

Accepted Answer

A) True 
 B)False  False

Question 3

The ultimate aim of customer relationship management is to ________.

Accepted Answer

A)  produce high customer equity 
B)  divide markets into distinct segments 
C)  evaluate customer lifetime value 
D)  turn "strangers" into "butterflies" 
E)  evaluate current sales share 
A)  produce high customer equity 
B)  divide markets into distinct segments 
C)  evaluate customer lifetime value 
D)  turn "strangers" into "butterflies" 
E)  evaluate current sales share A

Question 4

When backed by buying power,wants become ________.

Accepted Answer

A)  needs 
B)  demands 
C)  offerings 
D)  values 
E)  ideas 
A)  needs 
B)  demands 
C)  offerings 
D)  values 
E)  ideas

Question 5

The overall process of dealing with all aspects of acquiring,keeping,and growing customers is referred to as ________.

Accepted Answer

A)  perceived-value management 
B)  societal marketing 
C)  customer relationship management 
D)  partner relationship management 
E)  enterprise resource planning 
A)  perceived-value management 
B)  societal marketing 
C)  customer relationship management 
D)  partner relationship management 
E)  enterprise resource planning

Question 6

________ are customers who show low potential profitability and little projected loyalty.

Accepted Answer

A)  True friends 
B)  Barnacles 
C)  Strangers 
D)  True believers 
E)  Butterflies 
A)  True friends 
B)  Barnacles 
C)  Strangers 
D)  True believers 
E)  Butterflies

Question 7

Some fast food restaurants offer tasty and convenient food at affordable prices,but in doing so they contribute to the soaring obesity rates and environmental problems.In this case,these fast-food restaurants have overlooked the ________ concept.

Accepted Answer

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

Question 8

A customer who is both loyal and profitable is referred to as a ________.

Accepted Answer

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

Question 9

Compare and contrast the product and production concepts.

Accepted Answer

The production concept holds that consum

Question 10

Customer-driven marketing is most effective when ________.

Accepted Answer

A)  a clear need exists among customers, but the need is difficult to identify 
B)  customers do not know what they want but are easily persuaded 
C)  customers seek new products and technological innovations 
D)  clear needs exist and customers know what their needs are 
E)  customers have wants but cannot afford them 
A)  a clear need exists among customers, but the need is difficult to identify 
B)  customers do not know what they want but are easily persuaded 
C)  customers seek new products and technological innovations 
D)  clear needs exist and customers know what their needs are 
E)  customers have wants but cannot afford them

Question 11

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

Accepted Answer

A)  customer-driving marketing concept 
B)  marketing concept 
C)  societal marketing concept 
D)  production concept 
E)  selling concept 
A)  customer-driving marketing concept 
B)  marketing concept 
C)  societal marketing concept 
D)  production concept 
E)  selling concept

Question 12

Greater consumer control means that companies must rely more on marketing by ________.

Accepted Answer

A)  intrusion 
B)  attraction 
C)  competition 
D)  forceful persuasion 
E)  impersonal selling 
A)  intrusion 
B)  attraction 
C)  competition 
D)  forceful persuasion 
E)  impersonal selling

Question 13

Futuristic Designs Inc.,a furniture retail chain,understands and anticipates customer needs even better than customers themselves do and creates products and services to meet their existing and future needs.Which of the following has Futuristic Designs followed in this case?

Accepted Answer

A)  the product concept 
B)  customer-driving marketing 
C)  the societal marketing concept 
D)  customer-driven marketing 
E)  the production concept 
A)  the product concept 
B)  customer-driving marketing 
C)  the societal marketing concept 
D)  customer-driven marketing 
E)  the production concept

Question 14

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

Accepted Answer

A) True 
 B)False

Question 15

Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

Accepted Answer

A) True 
 B)False

Question 16

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

Accepted Answer

A)  A supply chain 
B)  A marketing channel 
C)  A market segment 
D)  A demand chain 
E)  A marketing-mix channel 
A)  A supply chain 
B)  A marketing channel 
C)  A market segment 
D)  A demand chain 
E)  A marketing-mix channel

Question 17

________ refers to the portion of the customer's purchase that a company gets in its product categories.

Accepted Answer

A)  Value proposition 
B)  Share of customer 
C)  Brand equity 
D)  Customer lifetime value 
E)  Customer equity 
A)  Value proposition 
B)  Share of customer 
C)  Brand equity 
D)  Customer lifetime value 
E)  Customer equity

Question 18

A consumer who is potentially profitable but shifts loyalty toward better deals is referred to as 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 19

According to the five-step model of the marketing process,the first step in marketing is ________.

Accepted Answer

A)  capturing value from customers to create profits and customer equity 
B)  constructing an integrated marketing program that delivers superior value 
C)  building profitable relationships and creating customer delight 
D)  understanding the marketplace and customer needs and wants 
E)  designing a customer-driven marketing strategy 
A)  capturing value from customers to create profits and customer equity 
B)  constructing an integrated marketing program that delivers superior value 
C)  building profitable relationships and creating customer delight 
D)  understanding the marketplace and customer needs and wants 
E)  designing a customer-driven marketing strategy

Question 20

Explain how the Internet has transformed the way in which we do business today.

Accepted Answer

The Internet links individuals and busin

Customers who are classified as true believers ________.

When backed by buying power,wants become needs.

The ultimate aim of customer relationship management is to ________.

When backed by buying power,wants become ________.

The overall process of dealing with all aspects of acquiring,keeping,and growing customers is referred to as ________.

________ are customers who show low potential profitability and little projected loyalty.

Some fast food restaurants offer tasty and convenient food at affordable prices,but in doing so they contribute to the soaring obesity rates and environmental problems.In this case,these fast-food restaurants have overlooked the ________ concept.

A customer who is both loyal and profitable is referred to as a ________.

Compare and contrast the product and production concepts.

Customer-driven marketing is most effective when ________.

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

Greater consumer control means that companies must rely more on marketing by ________.

Futuristic Designs Inc.,a furniture retail chain,understands and anticipates customer needs even better than customers themselves do and creates products and services to meet their existing and future needs.Which of the following has Futuristic Designs followed in this case?

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

________ refers to the portion of the customer's purchase that a company gets in its product categories.

A consumer who is potentially profitable but shifts loyalty toward better deals is referred to as a ________.

According to the five-step model of the marketing process,the first step in marketing is ________.

Explain how the Internet has transformed the way in which we do business today.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

Exam 1: Marketing: Creating and Capturing Customer Value

Customers who are classified as true believers ________.

When backed by buying power,wants become needs.

The ultimate aim of customer relationship management is to ________.

When backed by buying power,wants become ________.

The overall process of dealing with all aspects of acquiring,keeping,and growing customers is referred to as ________.

________ are customers who show low potential profitability and little projected loyalty.

Some fast food restaurants offer tasty and convenient food at affordable prices,but in doing so they contribute to the soaring obesity rates and environmental problems.In this case,these fast-food restaurants have overlooked the ________ concept.

A customer who is both loyal and profitable is referred to as a ________.

Compare and contrast the product and production concepts.

Customer-driven marketing is most effective when ________.

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

Greater consumer control means that companies must rely more on marketing by ________.

Futuristic Designs Inc.,a furniture retail chain,understands and anticipates customer needs even better than customers themselves do and creates products and services to meet their existing and future needs.Which of the following has Futuristic Designs followed in this case?

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

________ refers to the portion of the customer's purchase that a company gets in its product categories.

A consumer who is potentially profitable but shifts loyalty toward better deals is referred to as a ________.

According to the five-step model of the marketing process,the first step in marketing is ________.

Explain how the Internet has transformed the way in which we do business today.

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products,Services,and Brands: Building Customer Value

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters