Question 1

The difference between human needs and wants is that needs are not influenced by marketers.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

Accepted Answer

A) e-mail 
B) websites 
C) online social networks 
D) traditional advertising 
E) social media 
A) e-mail 
B) websites 
C) online social networks 
D) traditional advertising 
E) social media

Question 3

Today,most firms continue to practice mass marketing.

Accepted Answer

A) True 
 B)False

Question 4

Two important questions underlying marketing strategy are: 'Who is our target market?' and 'What's our value proposition?'

Accepted Answer

A) True 
 B)False

Question 5

Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following are elements of a modern marketing system?

Accepted Answer

A) suppliers 
B) company and competitors 
C) marketing intermediaries 
D) consumers and buyers 
E) All of the above. 
A) suppliers 
B) company and competitors 
C) marketing intermediaries 
D) consumers and buyers 
E) All of the above.

Question 7

The final step in the marketing process is ________.

Accepted Answer

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

Question 8

The ________ concept holds that consumers will favour products that offer the most quality,performance and innovative features.

Accepted Answer

The answer of The ________ concept holds that consumers will...

Question 9

Define customer equity and explain why it is important to a company.

Accepted Answer

Customer equity is the sum of the lifeti

Question 10

You have just taken a new position in an organisation and you're learning about the job functions of your new colleagues.You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships,and frequently speaks about the need to deliver superior customer value and satisfaction.Your manager is concerned with which one of the following?

Accepted Answer

A) database management 
B) website hits 
C) the societal marketing concept 
D) not-for-profit marketing 
E) customer relationship management 
A) database management 
B) website hits 
C) the societal marketing concept 
D) not-for-profit marketing 
E) customer relationship management

Question 11

According to the text,the three most commonly used measures of marketing performance are ________.

Accepted Answer

A) sales,market share and profits 
B) customer lifetime value,share of relationships and customer equity 
C) share of distribution,share of voice and share of wallet 
D) share of volume,share of value and brand equity 
E) None of the above. 
A) sales,market share and profits 
B) customer lifetime value,share of relationships and customer equity 
C) share of distribution,share of voice and share of wallet 
D) share of volume,share of value and brand equity 
E) None of the above.

Question 12

Which of the following is an example of a product?

Accepted Answer

A) a DVD or movie based on the life of a celebrity 
B) a haircut 
C) a day at Dream World theme park 
D) an SUV or family sedan 
E) All of the above. 
A) a DVD or movie based on the life of a celebrity 
B) a haircut 
C) a day at Dream World theme park 
D) an SUV or family sedan 
E) All of the above.

Question 13

During the recent economic downturn,marketers have been emphasising the ________ of their products more than ever.

Accepted Answer

A) image 
B) value 
C) safety 
D) uniqueness 
E) quality 
A) image 
B) value 
C) safety 
D) uniqueness 
E) quality

Question 14

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

Accepted Answer

A) butterflies 
B) true friends 
C) strangers 
D) barnacles 
E) None of the above. 
A) butterflies 
B) true friends 
C) strangers 
D) barnacles 
E) None of the above.

Question 15

When backed by buying power,needs become wants.

Accepted Answer

A) True 
 B)False

Question 16

The ________ concept holds that consumers will favour products that are available and highly affordable.

Accepted Answer

The answer of The ________ concept holds that consumers will...

Question 17

If a product's performance falls short of the customer's expectations,the buyer will be dissatisfied.

Accepted Answer

A) True 
 B)False

Question 18

Texas Instruments,one of the first producers of hand-held calculators,put a great deal of effort into expanding production of calculators to drive down the cost and thus expand the market.This is most indicative of the ________ concept.

Accepted Answer

A) production 
B) product 
C) customer 
D) marketing 
E) societal 
A) production 
B) product 
C) customer 
D) marketing 
E) societal

Question 19

Customer-driven marketing considers only existing needs for existing markets.

Accepted Answer

A) True 
 B)False

Question 20

The marketing task known as demarketing involves ________.

Accepted Answer

A) reducing demand,either temporarily or permanently 
B) adopting a low price position for a product or brand 
C) preventing competitors from imitating a product or brand 
D) reducing the value embedded in a product or brand 
E) eliminating the product from the offerings 
A) reducing demand,either temporarily or permanently 
B) adopting a low price position for a product or brand 
C) preventing competitors from imitating a product or brand 
D) reducing the value embedded in a product or brand 
E) eliminating the product from the offerings

The difference between human needs and wants is that needs are not influenced by marketers.

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

Today,most firms continue to practice mass marketing.

Two important questions underlying marketing strategy are: 'Who is our target market?' and 'What's our value proposition?'

Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships.

Which of the following are elements of a modern marketing system?

The final step in the marketing process is ________.

The ________ concept holds that consumers will favour products that offer the most quality,performance and innovative features.

Define customer equity and explain why it is important to a company.

According to the text,the three most commonly used measures of marketing performance are ________.

Which of the following is an example of a product?

During the recent economic downturn,marketers have been emphasising the ________ of their products more than ever.

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

When backed by buying power,needs become wants.

The ________ concept holds that consumers will favour products that are available and highly affordable.

If a product's performance falls short of the customer's expectations,the buyer will be dissatisfied.

Texas Instruments,one of the first producers of hand-held calculators,put a great deal of effort into expanding production of calculators to drive down the cost and thus expand the market.This is most indicative of the ________ concept.

Customer-driven marketing considers only existing needs for existing markets.

The marketing task known as demarketing involves ________.

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

The Marketplace and Customers: Analysing the Environment

Marketing Analytics: Gaining Customer Insights

Buyer Behaviour: Understanding Consumer and Business Buyers

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, services and Brands: Offering Customer Value

New Products: Developing and Managing Innovation

Pricing: Capturing Customer Value

Placement: Customer Value Fulfilment

Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion: Creating Value in Relationships

Direct and Digital Marketing: Interactivity and Fulfilment

Sustainable Marketing: Social Responsibility, ethics and Legal Compliance

Filters

Exam 1: Marketing: Creating and Capturing Customer Value

The difference between human needs and wants is that needs are not influenced by marketers.

Which of the following has NOT contributed to the deeper,more interactive nature of today's customer relationships?

Today,most firms continue to practice mass marketing.

Two important questions underlying marketing strategy are: 'Who is our target market?' and 'What's our value proposition?'

Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships.

Which of the following are elements of a modern marketing system?

The final step in the marketing process is ________.

The ________ concept holds that consumers will favour products that offer the most quality,performance and innovative features.

Define customer equity and explain why it is important to a company.

According to the text,the three most commonly used measures of marketing performance are ________.

Which of the following is an example of a product?

During the recent economic downturn,marketers have been emphasising the ________ of their products more than ever.

A CRM team leader aims to improve the overall firm profitability,and assesses her firm's most profitable and loyal customers.Which of the following customer relationship groups do these customers belong to?

When backed by buying power,needs become wants.

The ________ concept holds that consumers will favour products that are available and highly affordable.

If a product's performance falls short of the customer's expectations,the buyer will be dissatisfied.

Texas Instruments,one of the first producers of hand-held calculators,put a great deal of effort into expanding production of calculators to drive down the cost and thus expand the market.This is most indicative of the ________ concept.

Customer-driven marketing considers only existing needs for existing markets.

The marketing task known as demarketing involves ________.

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

The Marketplace and Customers: Analysing the Environment

Marketing Analytics: Gaining Customer Insights

Buyer Behaviour: Understanding Consumer and Business Buyers

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, services and Brands: Offering Customer Value

New Products: Developing and Managing Innovation

Pricing: Capturing Customer Value

Placement: Customer Value Fulfilment

Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion: Creating Value in Relationships

Direct and Digital Marketing: Interactivity and Fulfilment

Sustainable Marketing: Social Responsibility, ethics and Legal Compliance

Filters