Question 1

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

Accepted Answer

"Butterflies" are profitable but not loy

Question 2

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.

Accepted Answer

A)  customer-perceived value 
B)  marketing offerings 
C)  partner relationship management 
D)  customer lifetime value 
E)  value proposition 
A)  customer-perceived value 
B)  marketing offerings 
C)  partner relationship management 
D)  customer lifetime value 
E)  value proposition

Question 3

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

Accepted Answer

A)  customer lifetime value 
B)  customer-perceived value 
C)  customer relationship management 
D)  partner relationship management 
E)  customer equity 
A)  customer lifetime value 
B)  customer-perceived value 
C)  customer relationship management 
D)  partner relationship management 
E)  customer equity

Question 4

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Accepted Answer

A)  promotion mix 
B)  product mix 
C)  marketing mix 
D)  market offering 
E)  marketing effort 
A)  promotion mix 
B)  product mix 
C)  marketing mix 
D)  market offering 
E)  marketing effort

Question 5

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

Accepted Answer

A)  taking a local view of their industry 
B)  purchasing more supplies abroad 
C)  reducing competition within their industry 
D)  downplaying concerns for social responsibility 
E)  competing solely in traditional marketplaces 
A)  taking a local view of their industry 
B)  purchasing more supplies abroad 
C)  reducing competition within their industry 
D)  downplaying concerns for social responsibility 
E)  competing solely in traditional marketplaces

Question 6

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies.

Accepted Answer

A) True 
 B)False

Question 7

Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.

Accepted Answer

According to this concept, firms will su

Question 8

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Accepted Answer

A)  outside-in perspective 
B)  product-centered make-and-sell philosophy 
C)  inside-out perspective 
D)  consumer-generated marketing approach 
E)  telling-and-selling approach 
A)  outside-in perspective 
B)  product-centered make-and-sell philosophy 
C)  inside-out perspective 
D)  consumer-generated marketing approach 
E)  telling-and-selling approach

Question 9

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Accepted Answer

Customer satisfaction cannot be taken fo

Question 10

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?

Accepted Answer

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

Question 11

Greater consumer control means that companies can no longer rely on ________.

Accepted Answer

A)  promoting brand-consumer interaction 
B)  marketing by intrusion 
C)  creating market offerings and messages that involve consumers 
D)  developing marketing concepts with an outside-in perspective 
E)  marketing by attraction 
A)  promoting brand-consumer interaction 
B)  marketing by intrusion 
C)  creating market offerings and messages that involve consumers 
D)  developing marketing concepts with an outside-in perspective 
E)  marketing by attraction

Question 12

Which of the following statements reflects the marketing concept?

Accepted Answer

A)  Focus on making continuous product improvements. 
B)  Undertake a large-scale selling and promotion effort. 
C)  Emphasize an inside-out perspective. 
D)  Consider customer focus and value as the paths to sales and profits. 
E)  Focus on a product-centered make-and-sell philosophy. 
A)  Focus on making continuous product improvements. 
B)  Undertake a large-scale selling and promotion effort. 
C)  Emphasize an inside-out perspective. 
D)  Consider customer focus and value as the paths to sales and profits. 
E)  Focus on a product-centered make-and-sell philosophy.

Question 13

Explain why electronics and pharmaceuticals manufacturers use customer-driving marketing.

Accepted Answer

In such industries, consumers do not kno

Question 14

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Accepted Answer

A)  market offering 
B)  value proposition 
C)  brand positioning 
D)  market segment 
E)  market mix 
A)  market offering 
B)  value proposition 
C)  brand positioning 
D)  market segment 
E)  market mix

Question 15

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

Accepted Answer

A)  societal marketing 
B)  the production concept 
C)  the selling concept 
D)  partner relationship management 
E)  consumer-generated marketing 
A)  societal marketing 
B)  the production concept 
C)  the selling concept 
D)  partner relationship management 
E)  consumer-generated marketing

Question 16

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of ________.

Accepted Answer

A)  a frequency marketing program 
B)  a basic relationship 
C)  a club marketing program 
D)  partner relationship management 
E)  sustainable marketing 
A)  a frequency marketing program 
B)  a basic relationship 
C)  a club marketing program 
D)  partner relationship management 
E)  sustainable marketing

Question 17

When are sellers most effective?

Accepted Answer

A)  when they focus more on their specific products and services 
B)  when they focus more on the price of their products and services 
C)  when they focus more on the benefits and experiences produced by their products and services 
D)  when they focus more on where their products and services can be purchased 
E)  when they focus more on cost to produce the product or service 
A)  when they focus more on their specific products and services 
B)  when they focus more on the price of their products and services 
C)  when they focus more on the benefits and experiences produced by their products and services 
D)  when they focus more on where their products and services can be purchased 
E)  when they focus more on cost to produce the product or service

Question 18

A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.

Accepted Answer

A)  a frequency marketing program 
B)  a basic customer relationship 
C)  a club marketing program 
D)  the selling concept 
E)  consumer-generated marketing 
A)  a frequency marketing program 
B)  a basic customer relationship 
C)  a club marketing program 
D)  the selling concept 
E)  consumer-generated marketing

Question 19

Refer to the scenario below to answer the following question(s).
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 cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries 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 also 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 entrees that are a part of the local cuisine, 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 getaways throughout winter."
-Seagull Terrace offers its customers good accommodations, local delicacies, and amazing seaside views. The overall experience provided at the motel is a part of its ________.

Accepted Answer

A)  market offering 
B)  target market 
C)  market segment 
D)  product positioning 
E)  marketing mix 
A)  market offering 
B)  target market 
C)  market segment 
D)  product positioning 
E)  marketing mix

Question 20

Which of the following statements is true of the production concept?

Accepted Answer

A)  It considers customer focus and value to be the paths to sales and profits. 
B)  It follows the customer-centered sense-and-respond philosophy. 
C)  It takes an outside-in perspective. 
D)  It calls for sustainable marketing. 
E)  It leads to companies focusing too narrowly on their own operations. 
A)  It considers customer focus and value to be the paths to sales and profits. 
B)  It follows the customer-centered sense-and-respond philosophy. 
C)  It takes an outside-in perspective. 
D)  It calls for sustainable marketing. 
E)  It leads to companies focusing too narrowly on their own operations.

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

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies.

Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?

Greater consumer control means that companies can no longer rely on ________.

Which of the following statements reflects the marketing concept?

Explain why electronics and pharmaceuticals manufacturers use customer-driving marketing.

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of ________.

When are sellers most effective?

A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.

Which of the following statements is true of the production concept?

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

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

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies.

Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?

Greater consumer control means that companies can no longer rely on ________.

Which of the following statements reflects the marketing concept?

Explain why electronics and pharmaceuticals manufacturers use customer-driving marketing.

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of ________.

When are sellers most effective?

A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.

Which of the following statements is true of the production concept?

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