Question 1

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is the aim of the product concept?

Accepted Answer

A)  improve the marketing of a firm's best products 
B)  market only those products with high customer appeal 
C)  focus on the target market and make products that meet those customers' demands 
D)  focus on making continuous product improvements 
E)  ensure that product promotion has the highest priority 
A)  improve the marketing of a firm's best products 
B)  market only those products with high customer appeal 
C)  focus on the target market and make products that meet those customers' demands 
D)  focus on making continuous product improvements 
E)  ensure that product promotion has the highest priority

Question 3

What should sellers consider if they wish to avoid marketing myopia?

Accepted Answer

Sellers should consider the pa

Question 4

Define customer equity and explain how a company can increase it.

Accepted Answer

Customer equity is the sum of the lifeti

Question 5

Marketing in the non-profit sector is applied in all but which of these ways?

Accepted Answer

A)  to enhance their images 
B)  to attract memberships 
C)  to publicize the organization's supporters 
D)  to design social marketing campaigns for specific causes 
E)  to encourage donor support 
A)  to enhance their images 
B)  to attract memberships 
C)  to publicize the organization's supporters 
D)  to design social marketing campaigns for specific causes 
E)  to encourage donor support

Question 6

Which of the following strategies would a company most likely use to increase customer satisfaction?

Accepted Answer

A)  decreasing the variety of offered services 
B)  divesting 
C)  lowering prices 
D)  "firing" unprofitable customers 
E)  limiting customer experiences with a brand 
A)  decreasing the variety of offered services 
B)  divesting 
C)  lowering prices 
D)  "firing" unprofitable customers 
E)  limiting customer experiences with a brand

Question 7

The primary key to delivering customer satisfaction is to match product performance with ________.

Accepted Answer

A)  the performance of competitive products 
B)  competitive prices 
C)  aggressive advertising 
D)  limited customer services 
E)  customer expectations 
A)  the performance of competitive products 
B)  competitive prices 
C)  aggressive advertising 
D)  limited customer services 
E)  customer expectations

Question 8

________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

Accepted Answer

A)  Customer-perceived value 
B)  Customer lifetime value 
C)  Share of customer 
D)  Customer-managed relationship 
E)  Brand value proposition 
A)  Customer-perceived value 
B)  Customer lifetime value 
C)  Share of customer 
D)  Customer-managed relationship 
E)  Brand value proposition

Question 9

A company should not always target all possible customers. Which kind of customer is not the most valuable to a company, but, can over time, contribute to the firm's success?

Accepted Answer

A)  butterflies 
B)  shooting stars 
C)  barnacles 
D)  true friends 
E)  strangers 
A)  butterflies 
B)  shooting stars 
C)  barnacles 
D)  true friends 
E)  strangers

Question 10

Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?

Accepted Answer

A)  Marketers want to increase their market share. 
B)  Marketers want to increase the share they get of the customer's purchasing in their product categories. 
C)  Marketers want to diversify their operations and customize their products to cater to the entire market. 
D)  Marketers want to continuously increase their customers' levels of satisfaction. 
E)  Marketers want to turn satisfied customers into delighted customers. 
A)  Marketers want to increase their market share. 
B)  Marketers want to increase the share they get of the customer's purchasing in their product categories. 
C)  Marketers want to diversify their operations and customize their products to cater to the entire market. 
D)  Marketers want to continuously increase their customers' levels of satisfaction. 
E)  Marketers want to turn satisfied customers into delighted customers.

Question 11

Customer-perceived value is defined as the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

Accepted Answer

A) True 
 B)False

Question 12

A seller pursues a basic relationship with what kind of customers?

Accepted Answer

A)  many customers regardless of profitability 
B)  many high-margin customers 
C)  many low-margin customers 
D)  a few high-margin customers 
E)  a few low-margin customers 
A)  many customers regardless of profitability 
B)  many high-margin customers 
C)  many low-margin customers 
D)  a few high-margin customers 
E)  a few low-margin customers

Question 13

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Accepted Answer

A)  share of customer 
B)  customer satisfaction 
C)  customer equity 
D)  customer-perceived value 
E)  customer lifetime value 
A)  share of customer 
B)  customer satisfaction 
C)  customer equity 
D)  customer-perceived value 
E)  customer lifetime value

Question 14

Selecting which segments of a population to serve is called ________.

Accepted Answer

A)  market segmentation 
B)  positioning 
C)  customization 
D)  target marketing 
E)  differentiation 
A)  market segmentation 
B)  positioning 
C)  customization 
D)  target marketing 
E)  differentiation

Question 15

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

Accepted Answer

A) True 
 B)False

Question 16

The final step in the marketing process is ________.

Accepted Answer

A)  capturing value from customers 
B)  creating customer delight 
C)  creating customer lifetime value 
D)  understanding the marketplace 
E)  designing a customer-driven marketing strategy 
A)  capturing value from customers 
B)  creating customer delight 
C)  creating customer lifetime value 
D)  understanding the marketplace 
E)  designing a customer-driven marketing strategy

Question 17

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by ________.

Accepted Answer

A)  regularly putting products on sale 
B)  promising only what they can deliver and then delivering more than they promise 
C)  offering promotional deals such as "buy one and get one free" 
D)  creating contests with exciting prizes 
E)  using celebrities to advertise the products 
A)  regularly putting products on sale 
B)  promising only what they can deliver and then delivering more than they promise 
C)  offering promotional deals such as "buy one and get one free" 
D)  creating contests with exciting prizes 
E)  using celebrities to advertise the products

Question 18

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

Accepted Answer

A)  outside-in 
B)  niche marketing 
C)  inside-out 
D)  societal marketing 
E)  customer-driven 
A)  outside-in 
B)  niche marketing 
C)  inside-out 
D)  societal marketing 
E)  customer-driven

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Accepted Answer

A)  solving consumer problems 
B)  building customer relationships 
C)  helping customers shop 
D)  providing product information 
E)  working with suppliers 
A)  solving consumer problems 
B)  building customer relationships 
C)  helping customers shop 
D)  providing product information 
E)  working with suppliers

Marketing is managing profitable customer relationships.

Which of the following is the aim of the product concept?

What should sellers consider if they wish to avoid marketing myopia?

Define customer equity and explain how a company can increase it.

Marketing in the non-profit sector is applied in all but which of these ways?

Which of the following strategies would a company most likely use to increase customer satisfaction?

The primary key to delivering customer satisfaction is to match product performance with ________.

________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

A company should not always target all possible customers. Which kind of customer is not the most valuable to a company, but, can over time, contribute to the firm's success?

Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?

Customer-perceived value is defined as the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

A seller pursues a basic relationship with what kind of customers?

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Selecting which segments of a population to serve is called ________.

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

The final step in the marketing process is ________.

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by ________.

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

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

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 1: Marketing: Creating Customer Value and Engagement

Marketing is managing profitable customer relationships.

Which of the following is the aim of the product concept?

What should sellers consider if they wish to avoid marketing myopia?

Define customer equity and explain how a company can increase it.

Marketing in the non-profit sector is applied in all but which of these ways?

Which of the following strategies would a company most likely use to increase customer satisfaction?

The primary key to delivering customer satisfaction is to match product performance with ________.

________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

A company should not always target all possible customers. Which kind of customer is not the most valuable to a company, but, can over time, contribute to the firm's success?

Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?

Customer-perceived value is defined as the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

A seller pursues a basic relationship with what kind of customers?

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Selecting which segments of a population to serve is called ________.

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

The final step in the marketing process is ________.

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by ________.

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

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

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters