Question 1

The ultimate benefit that most businesses seek from marketing is long­ term _____.

Accepted Answer

A)  segmentation 
B)  mass customization 
C)  profitability 
D)  ownership utility 
A)  segmentation 
B)  mass customization 
C)  profitability 
D)  ownership utility C

Question 2

When customers perceive that a good or service delivers value above and beyond their expectations, it is known as _____.

Accepted Answer

A)  customer satisfaction 
B)  customer loyalty 
C)  cognitive dissonance 
D)  consumer behavior 
A)  customer satisfaction 
B)  customer loyalty 
C)  cognitive dissonance 
D)  consumer behavior A

Question 3

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop one­on­one relationships and to identify high­potential new customers.

Accepted Answer

A) True 
 B)False  True

Question 4

Define customer relationship management. Identify and explain how it impacts the consumer.

Accepted Answer

Customer Relationship Management (CRM) i

Question 5

Geographic segmentation involves dividing the market based on where consumers live.

Accepted Answer

A) True 
 B)False

Question 6

_____ demands that marketers actively contribute to the needs of the broader community.

Accepted Answer

A)  Social responsibility 
B)  Ethical consumerism 
C)  Corporate sustainability 
D)  Shareholder primacy 
A)  Social responsibility 
B)  Ethical consumerism 
C)  Corporate sustainability 
D)  Shareholder primacy

Question 7

Survey research involves an interaction between the researcher and the research subjects.

Accepted Answer

A) True 
 B)False

Question 8

Attitudes are a person's lasting evaluations of objects or ideas.

Accepted Answer

A) True 
 B)False

Question 9

Sigma Inc., a manufacturer of electric nutcrackers, enjoys a monopoly in a large region of a European country. Market share for this machine is near 90 percent, and the firm is rarely worried about competition. The firm has considered branching out internationally to sell its premium product "Powercracker" in other countries. Which of the following should the firm specifically consider as it formulates its marketing plan?

Accepted Answer

A)  It should solely focus on the promotion strategy of its marketing mix. 
B)  It should look at product­use­based segmentations for its business­to­business sales. 
C)  It should strive to know about the global marketing mix, including social/cultural elements. 
D)  It should try to resolve cognitive dissonance of its consumers. 
A)  It should solely focus on the promotion strategy of its marketing mix. 
B)  It should look at product­use­based segmentations for its business­to­business sales. 
C)  It should strive to know about the global marketing mix, including social/cultural elements. 
D)  It should try to resolve cognitive dissonance of its consumers.

Question 10

Value is based on a customer's perception that a product has a better relationship between the cost and the benefits than its competitors.

Accepted Answer

A) True 
 B)False

Question 11

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

Accepted Answer

A) True 
 B)False

Question 12

Online questionnaires are an example of observation research.

Accepted Answer

A) True 
 B)False

Question 13

A key to successful customer relationship management (CRM) is to:

Accepted Answer

A)  develop marketing strategies that are universal. 
B)  collect, manage, and apply the right data at the right time for the right person. 
C)  help customers identify new needs­even if they are met by other firms. 
D)  focus most marketing resources on the pricing and distribution functions of the marketing mix. 
A)  develop marketing strategies that are universal. 
B)  collect, manage, and apply the right data at the right time for the right person. 
C)  help customers identify new needs­even if they are met by other firms. 
D)  focus most marketing resources on the pricing and distribution functions of the marketing mix.

Question 14

When Suzanne was shopping for school supplies in a mall, she was approached by a woman with a clipboard asking questions about her preference for jeans. Therefore, Suzanne is part of _____ research.

Accepted Answer

A)  secondary 
B)  uncontrolled 
C)  survey 
D)  observation 
A)  secondary 
B)  uncontrolled 
C)  survey 
D)  observation

Question 15

Businesses use customer relationship management (CRM) techniques to deliver value to customers while promoting customer loyalty.

Accepted Answer

A) True 
 B)False

Question 16

Consumers are often likely to go through all steps of the purchase decision process when they are buying goods for which the financial or social implications are significant.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements is true of a business buyer?

Accepted Answer

A)  A business buyer lacks purchasing training. 
B)  A business buyer seeks generic goods at generic prices. 
C)  A business buyer uses personal judgment to decision­making process. 
D)  A business buyer bases purchases on specifications. 
A)  A business buyer lacks purchasing training. 
B)  A business buyer seeks generic goods at generic prices. 
C)  A business buyer uses personal judgment to decision­making process. 
D)  A business buyer bases purchases on specifications.

Question 18

The consumer decision­making process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

Accepted Answer

A) True 
 B)False

Question 19

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

Accepted Answer

A)  selection 
B)  form 
C)  comparative 
D)  time 
A)  selection 
B)  form 
C)  comparative 
D)  time

Question 20

The two main approaches used in primary marketing research are:

Accepted Answer

A)  observation research and survey research. 
B)  longitudinal research and historical research. 
C)  field research and archival research. 
D)  econometric research and empirical research. 
A)  observation research and survey research. 
B)  longitudinal research and historical research. 
C)  field research and archival research. 
D)  econometric research and empirical research.

The ultimate benefit that most businesses seek from marketing is long term _____.

When customers perceive that a good or service delivers value above and beyond their expectations, it is known as _____.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop oneonone relationships and to identify highpotential new customers.

Define customer relationship management. Identify and explain how it impacts the consumer.

Geographic segmentation involves dividing the market based on where consumers live.

_____ demands that marketers actively contribute to the needs of the broader community.

Survey research involves an interaction between the researcher and the research subjects.

Attitudes are a person's lasting evaluations of objects or ideas.

Value is based on a customer's perception that a product has a better relationship between the cost and the benefits than its competitors.

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

Online questionnaires are an example of observation research.

A key to successful customer relationship management (CRM) is to:

When Suzanne was shopping for school supplies in a mall, she was approached by a woman with a clipboard asking questions about her preference for jeans. Therefore, Suzanne is part of _____ research.

Businesses use customer relationship management (CRM) techniques to deliver value to customers while promoting customer loyalty.

Consumers are often likely to go through all steps of the purchase decision process when they are buying goods for which the financial or social implications are significant.

Which of the following statements is true of a business buyer?

The consumer decisionmaking process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

The two main approaches used in primary marketing research are:

Business Now: Change Is the Only Constant

Economics: the Framework of Business

The World Marketplace: Business Without Borders

Business Ethics Social Responsibility: Doing Well by Doing Good

Business Communication: Creating Delivering Messages That Matter

Business Formation: Choosing the Form That Fits

Small Business Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring Using Funds to Maximize Value

Securities Markets: Trading Financial Resources

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

HRM: Building a Top Quality Workforce

Managing Information Technology: Finding New Ways to Learn and Link

Om: Putting It All Together Endnotes

Appendix Studentinstructor Review Cards

Online Appendix

Filters

Exam 11: Marketing: Building Profitable Customer Connections

The ultimate benefit that most businesses seek from marketing is long­ term _____.

When customers perceive that a good or service delivers value above and beyond their expectations, it is known as _____.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop one­on­one relationships and to identify high­potential new customers.

Define customer relationship management. Identify and explain how it impacts the consumer.

Geographic segmentation involves dividing the market based on where consumers live.

_____ demands that marketers actively contribute to the needs of the broader community.

Survey research involves an interaction between the researcher and the research subjects.

Attitudes are a person's lasting evaluations of objects or ideas.

Value is based on a customer's perception that a product has a better relationship between the cost and the benefits than its competitors.

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

Online questionnaires are an example of observation research.

A key to successful customer relationship management (CRM) is to:

When Suzanne was shopping for school supplies in a mall, she was approached by a woman with a clipboard asking questions about her preference for jeans. Therefore, Suzanne is part of _____ research.

Businesses use customer relationship management (CRM) techniques to deliver value to customers while promoting customer loyalty.

Consumers are often likely to go through all steps of the purchase decision process when they are buying goods for which the financial or social implications are significant.

Which of the following statements is true of a business buyer?

The consumer decision­making process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

The two main approaches used in primary marketing research are:

Business Now: Change Is the Only Constant

Economics: the Framework of Business

The World Marketplace: Business Without Borders

Business Ethics Social Responsibility: Doing Well by Doing Good

Business Communication: Creating Delivering Messages That Matter

Business Formation: Choosing the Form That Fits

Small Business Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring Using Funds to Maximize Value

Securities Markets: Trading Financial Resources

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

HRM: Building a Top Quality Workforce

Managing Information Technology: Finding New Ways to Learn and Link

Om: Putting It All Together Endnotes

Appendix Studentinstructor Review Cards

Online Appendix

Filters

The ultimate benefit that most businesses seek from marketing is long term _____.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop oneonone relationships and to identify highpotential new customers.

The consumer decisionmaking process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.