Question 1

Two types of value are primary value and secondary value.

Accepted Answer

A) True 
 B)False  False

Question 2

All of the following are examples of "What you give," or sacrifices, in the value equation EXCEPT _____.

Accepted Answer

A)  time 
B)  opportunity 
C)  emotions 
D)  image 
E)  experience 
A)  time 
B)  opportunity 
C)  emotions 
D)  image 
E)  experience E

Question 3

A basic CRM premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

Accepted Answer

A) True 
 B)False  True

Question 4

Community Trust Bank is analyzing its customer data to determine if groups other than simply consumer and business customers can be identified. It is looking at the frequency of branch visits, use of ATMs, online banking activity, loan activity, and account balances for each customer. The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group. What marketing concept do these different groups of customers represent?

Accepted Answer

A)  target marketing 
B)  market segmentation 
C)  positioning 
D)  marketing audit 
E)  environmental scanning 
A)  target marketing 
B)  market segmentation 
C)  positioning 
D)  marketing audit 
E)  environmental scanning

Question 5

Consumers do not view all soft drinks as identical to one another. Some prefer Coca-Cola, while others will only drink Pepsi-Cola. Still others will not drink either cola and drink only non-caffeinated soft drinks. This marketplace condition in which consumers do not view all competing products as identical to one another is called _____.

Accepted Answer

A)  product differentiation 
B)  product variation 
C)  market segmentation 
D)  perceptual differentiation 
E)  selective perception 
A)  product differentiation 
B)  product variation 
C)  market segmentation 
D)  perceptual differentiation 
E)  selective perception

Question 6

Which strategy deals with how the firm will be defined and sets general goals?

Accepted Answer

A)  corporate strategy 
B)  marketing strategy 
C)  tactical strategy 
D)  top-level strategy 
E)  meta-strategy 
A)  corporate strategy 
B)  marketing strategy 
C)  tactical strategy 
D)  top-level strategy 
E)  meta-strategy

Question 7

Haley is a member of a sorority. She uses certain brands because they are popular with the others in her sorority. Her sorority sisters are part of the _____ that influences Haley's everyday experiences.

Accepted Answer

A)  internal environment 
B)  value network 
C)  relationship network 
D)  emotional environment 
E)  social environment 
A)  internal environment 
B)  value network 
C)  relationship network 
D)  emotional environment 
E)  social environment

Question 8

Describe the Consumer Value Framework (CVF), including its basic components.

Accepted Answer

The Consumer Value Framework (CVF)</

Question 9

Product differentiation is a marketplace condition in which consumers do not view all competing products as identical to one anther.

Accepted Answer

A) True 
 B)False

Question 10

Samantha tracks detailed information about customers so more customer-oriented decisions can be made, hopefully leading to longer-lasting relationships with customers. Samantha is involved in _____.

Accepted Answer

A)  customer relationship management 
B)  marketing management 
C)  consumer value management 
D)  quality management 
E)  internal marketing management 
A)  customer relationship management 
B)  marketing management 
C)  consumer value management 
D)  quality management 
E)  internal marketing management

Question 11

Which orientation means each customer represents a potential stream of resources rather than just a single sale?

Accepted Answer

A)  product orientation 
B)  CVF orientation 
C)  hedonic orientation 
D)  CRM orientation 
E)  utilitarian orientation 
A)  product orientation 
B)  CVF orientation 
C)  hedonic orientation 
D)  CRM orientation 
E)  utilitarian orientation

Question 12

Marketing strategy deals with how the firm will be defined and sets general goals.

Accepted Answer

A) True 
 B)False

Question 13

_____ value is derived from a product that helps a consumer solve problems and accomplish tasks.

Accepted Answer

A)  Utilitarian 
B)  Functional 
C)  Terminal 
D)  Purchase 
E)  End-state 
A)  Utilitarian 
B)  Functional 
C)  Terminal 
D)  Purchase 
E)  End-state

Question 14

Internal influences on the consumption process include factors such as service quality.

Accepted Answer

A) True 
 B)False

Question 15

Ideal points on a perceptual map represent each marketer's product offering.

Accepted Answer

A) True 
 B)False

Question 16

_____ is a personal assessment of the net worth obtained from an activity.

Accepted Answer

A)  Value 
B)  Customer lifetime value 
C)  Prestige 
D)  Quality 
E)  Effort 
A)  Value 
B)  Customer lifetime value 
C)  Prestige 
D)  Quality 
E)  Effort

Question 17

Purchasing a satellite radio for your car and the satellite radio service necessary to use the radio is an example of an augmented product.

Accepted Answer

A) True 
 B)False

Question 18

The actual physical product purchased plus any services such as installation and warranties necessary to use the product and obtain its benefits is called the _____.

Accepted Answer

A)  augmented product 
B)  secondary product 
C)  complete product 
D)  enhanced product 
E)  value proposition 
A)  augmented product 
B)  secondary product 
C)  complete product 
D)  enhanced product 
E)  value proposition

Question 19

_____ refers to the way a product is perceived by a consumer.

Accepted Answer

A)  Product differentiation 
B)  Product augmentation 
C)  Product positioning 
D)  Product segmentation 
E)  Product perception 
A)  Product differentiation 
B)  Product augmentation 
C)  Product positioning 
D)  Product segmentation 
E)  Product perception

Question 20

Vann's is a company that manufactures and markets shoes for serious skateboarders. These consumers are predominantly males, 10-25 years old. This market segment that Vann's serves with a specific marketing mix is called its _____.

Accepted Answer

A)  preferred market 
B)  optimum market 
C)  target market 
D)  selected market 
E)  segmented market 
A)  preferred market 
B)  optimum market 
C)  target market 
D)  selected market 
E)  segmented market

Two types of value are primary value and secondary value.

All of the following are examples of "What you give," or sacrifices, in the value equation EXCEPT _____.

A basic CRM premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

Which strategy deals with how the firm will be defined and sets general goals?

Haley is a member of a sorority. She uses certain brands because they are popular with the others in her sorority. Her sorority sisters are part of the _____ that influences Haley's everyday experiences.

Describe the Consumer Value Framework (CVF), including its basic components.

Product differentiation is a marketplace condition in which consumers do not view all competing products as identical to one anther.

Samantha tracks detailed information about customers so more customer-oriented decisions can be made, hopefully leading to longer-lasting relationships with customers. Samantha is involved in _____.

Which orientation means each customer represents a potential stream of resources rather than just a single sale?

Marketing strategy deals with how the firm will be defined and sets general goals.

_____ value is derived from a product that helps a consumer solve problems and accomplish tasks.

Internal influences on the consumption process include factors such as service quality.

Ideal points on a perceptual map represent each marketer's product offering.

_____ is a personal assessment of the net worth obtained from an activity.

Purchasing a satellite radio for your car and the satellite radio service necessary to use the radio is an example of an augmented product.

The actual physical product purchased plus any services such as installation and warranties necessary to use the product and obtain its benefits is called the _____.

_____ refers to the way a product is perceived by a consumer.

Vann's is a company that manufactures and markets shoes for serious skateboarders. These consumers are predominantly males, 10-25 years old. This market segment that Vann's serves with a specific marketing mix is called its _____.

What Is CB and Why Should I Care

Consumer Learning Starts Here: Perception

Comprehension, Memory, and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality, Lifestyles, and the Self-Concept

Attitudes and Attitude Change

Consumer Culture

Microcultures

Group and Interpersonal Influence

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making Ii: Alternative Evaluation and Choice

Consumption to Satisfaction

Consumer Relationships

Consumer and Marketing Misbehavior

Filters

Exam 2: Value and the Consumer Behavior Value Framework

Two types of value are primary value and secondary value.

All of the following are examples of "What you give," or sacrifices, in the value equation EXCEPT _____.

A basic CRM premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

Which strategy deals with how the firm will be defined and sets general goals?

Haley is a member of a sorority. She uses certain brands because they are popular with the others in her sorority. Her sorority sisters are part of the _____ that influences Haley's everyday experiences.

Describe the Consumer Value Framework (CVF), including its basic components.

Product differentiation is a marketplace condition in which consumers do not view all competing products as identical to one anther.

Samantha tracks detailed information about customers so more customer-oriented decisions can be made, hopefully leading to longer-lasting relationships with customers. Samantha is involved in _____.

Which orientation means each customer represents a potential stream of resources rather than just a single sale?

Marketing strategy deals with how the firm will be defined and sets general goals.

_____ value is derived from a product that helps a consumer solve problems and accomplish tasks.

Internal influences on the consumption process include factors such as service quality.

Ideal points on a perceptual map represent each marketer's product offering.

_____ is a personal assessment of the net worth obtained from an activity.

Purchasing a satellite radio for your car and the satellite radio service necessary to use the radio is an example of an augmented product.

The actual physical product purchased plus any services such as installation and warranties necessary to use the product and obtain its benefits is called the _____.

_____ refers to the way a product is perceived by a consumer.

Vann's is a company that manufactures and markets shoes for serious skateboarders. These consumers are predominantly males, 10-25 years old. This market segment that Vann's serves with a specific marketing mix is called its _____.

What Is CB and Why Should I Care

Consumer Learning Starts Here: Perception

Comprehension, Memory, and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality, Lifestyles, and the Self-Concept

Attitudes and Attitude Change

Consumer Culture

Microcultures

Group and Interpersonal Influence

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making Ii: Alternative Evaluation and Choice

Consumption to Satisfaction

Consumer Relationships

Consumer and Marketing Misbehavior

Filters