Question 1

The Internet of Things (IoT) is a global environment where everything and everyone is digitally connected to everything and everyone else.

Accepted Answer

A) True 
 B)False  True

Question 2

Dollarama profitably appeals to families with more modest means. The retailer's approach is most likely referred to as _.

Accepted Answer

A)  undifferentiated marketing 
B)  consumer-generated marketing 
C)  mass distribution 
D)  target marketing 
E)  cost leadership 
A)  undifferentiated marketing 
B)  consumer-generated marketing 
C)  mass distribution 
D)  target marketing 
E)  cost leadership D

Question 3

Compare the selling and marketing concepts, and list the key components of each concept.

Accepted Answer

The selling concept reflects an inside-out perspective, while the marketing concept takes an outside-in perspective. The selling concept is typically practiced when an organization markets products or services that buyers do not normally think of purchasing, such as insurance or blood donation. Aggressive selling focuses on creating sales transaction rather than on building long-term relationships with customers, with the aim of selling what a company makes rather than making what the customer wants. The marketing concept, on the other hand, is based on identifying the needs and wants of target markets and then satisfying those needs and wants better than competitors do. Under the marketing concept, customer focus and value are the paths to sales and profits. Instead of a product-centered make-and-sell philosophy, the marketing concept is a customer-centered sense-and-respond philosophy. The job is not to find the right customers for a product but to find the right products for customers.

Question 4

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

Question 5

What is marketing? Briefly describe the marketing process.

Accepted Answer

Marketing can be defined as the process

Question 6

Describe how the Loblaws clothing brand, Joe Fresh, differentiates itself from other clothing labels.

Accepted Answer

By selling Joe Fresh in Loblaw brand sto

Question 7

British Columbia-based Flair Airlines gives you "Canada's ticket to ultra-low airfares" is their .

Accepted Answer

A)  segmentation strategy 
B)  value proposition 
C)  production concept 
D)  market offering 
E)  selling concept 
A)  segmentation strategy 
B)  value proposition 
C)  production concept 
D)  market offering 
E)  selling concept

Question 8

Explain, with examples, the different types of relationships that a company can build with its customers.

Accepted Answer

At one extreme, a company with many low-

Question 9

Which of the following terms refers to a 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)  customer equity 
B)  customer profitability 
C)  customer lifetime value 
D)  customer-perceived value 
E)  share of customer 
A)  customer equity 
B)  customer profitability 
C)  customer lifetime value 
D)  customer-perceived value 
E)  share of customer

Question 10

Customer evangelists are those who _.

Accepted Answer

A)  work with quality-assurance teams to improve product safety 
B)  evaluate newly launched products in the marketplace 
C)  use personal selling methods to market products and services 
D)  use their expertise to influence people about specific products 
E)  spread the word about their good experiences with a brand or product 
A)  work with quality-assurance teams to improve product safety 
B)  evaluate newly launched products in the marketplace 
C)  use personal selling methods to market products and services 
D)  use their expertise to influence people about specific products 
E)  spread the word about their good experiences with a brand or product

Question 11

The ABC, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by the ABC company?

Accepted Answer

A)  the product concept 
B)  customer-driving marketing 
C)  sustainable marketing 
D)  the selling concept 
E)  the production concept 
A)  the product concept 
B)  customer-driving marketing 
C)  sustainable marketing 
D)  the selling concept 
E)  the production concept

Question 12

Efforts to convert into loyal customers are rarely successful.

Accepted Answer

A)  true believers 
B)  butterflies 
C)  strangers 
D)  laggards 
E)  barnacles 
A)  true believers 
B)  butterflies 
C)  strangers 
D)  laggards 
E)  barnacles

Question 13

The societal marketing concept holds that .

Accepted Answer

A)  consumers will favour products that offer the most in quality, performance, and innovative features 
B)  the society will only favour products that are available and highly affordable 
C)  achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do 
D)  consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort 
E)  a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment 
A)  consumers will favour products that offer the most in quality, performance, and innovative features 
B)  the society will only favour products that are available and highly affordable 
C)  achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do 
D)  consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort 
E)  a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

Question 14

refers to working closely with people inside and outside the company to jointly bring more value to customers.

Accepted Answer

A)  Customer-generated marketing 
B)  Demand management 
C)  Integrated communication 
D)  Channel value proposition 
E)  Partner relationship management 
A)  Customer-generated marketing 
B)  Demand management 
C)  Integrated communication 
D)  Channel value proposition 
E)  Partner relationship management

Question 15

Procter & Gamble's Tide detergent does not attempt to get to know customers personally. Instead, Tide creates engagement and relationships through brand-building advertising, websites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers?

Accepted Answer

A)  business partnering 
B)  basic relationships 
C)  full partnerships 
D)  joint ventures 
E)  strategic alliances 
A)  business partnering 
B)  basic relationships 
C)  full partnerships 
D)  joint ventures 
E)  strategic alliances

Question 16

In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.

Accepted Answer

A) True 
 B)False

Question 17

The Walt Disney World Resort doesn't just offer amusement park rides, it uses its famed Disney magic to create carefully orchestrated _ _.

Accepted Answer

A)  wants 
B)  service offerings 
C)  values 
D)  experiences 
E)  benefits 
A)  wants 
B)  service offerings 
C)  values 
D)  experiences 
E)  benefits

Question 18

Companies that invite consumers play a role in shaping ads and social media (Tesla) or by offering suggestions for product design (Oreo's, Mountain Dew) are leveraging what increasingly popular marketing approach?

Accepted Answer

A)  low cost marketing campaign development 
B)  process marketing 
C)  consumer-generated marketing 
D)  direct marketing 
E)  engagement marketing 
A)  low cost marketing campaign development 
B)  process marketing 
C)  consumer-generated marketing 
D)  direct marketing 
E)  engagement marketing

Question 19

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

Accepted Answer

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

Question 20

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that needs, not just economic needs, define markets.

Accepted Answer

A)  functional 
B)  societal 
C)  physical 
D)  marketing 
E)  individual 
A)  functional 
B)  societal 
C)  physical 
D)  marketing 
E)  individual

The Internet of Things (IoT) is a global environment where everything and everyone is digitally connected to everything and everyone else.

Dollarama profitably appeals to families with more modest means. The retailer's approach is most likely referred to as _.

Compare the selling and marketing concepts, and list the key components of each concept.

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

What is marketing? Briefly describe the marketing process.

Describe how the Loblaws clothing brand, Joe Fresh, differentiates itself from other clothing labels.

British Columbia-based Flair Airlines gives you "Canada's ticket to ultra-low airfares" is their .

Explain, with examples, the different types of relationships that a company can build with its customers.

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

Customer evangelists are those who _.

The ABC, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by the ABC company?

Efforts to convert into loyal customers are rarely successful.

The societal marketing concept holds that .

refers to working closely with people inside and outside the company to jointly bring more value to customers.

In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.

The Walt Disney World Resort doesn't just offer amusement park rides, it uses its famed Disney magic to create carefully orchestrated _ _.

Companies that invite consumers play a role in shaping ads and social media (Tesla) or by offering suggestions for product design (Oreo's, Mountain Dew) are leveraging what increasingly popular marketing approach?

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

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that needs, not just economic needs, define markets.

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

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behaviour

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

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

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 1: Marketing: Creating Customer Value and Engagement

The Internet of Things (IoT) is a global environment where everything and everyone is digitally connected to everything and everyone else.

Dollarama profitably appeals to families with more modest means. The retailer's approach is most likely referred to as _.

Compare the selling and marketing concepts, and list the key components of each concept.

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

What is marketing? Briefly describe the marketing process.

Describe how the Loblaws clothing brand, Joe Fresh, differentiates itself from other clothing labels.

British Columbia-based Flair Airlines gives you "Canada's ticket to ultra-low airfares" is their .

Explain, with examples, the different types of relationships that a company can build with its customers.

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

Customer evangelists are those who _.

The ABC, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by the ABC company?

Efforts to convert into loyal customers are rarely successful.

The societal marketing concept holds that .

refers to working closely with people inside and outside the company to jointly bring more value to customers.

In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.

The Walt Disney World Resort doesn't just offer amusement park rides, it uses its famed Disney magic to create carefully orchestrated _ _.

Companies that invite consumers play a role in shaping ads and social media (Tesla) or by offering suggestions for product design (Oreo's, Mountain Dew) are leveraging what increasingly popular marketing approach?

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

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that needs, not just economic needs, define markets.

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

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behaviour

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

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

Sustainable Marketing: Social Responsibility and Ethics

Filters