Question 1

A firm that uses the selling concept takes a(n) ________ approach.

Accepted Answer

A)  outside-in 
B)  niche marketing 
C)  inside-out 
D)  societal marketing 
E)  customer-driven 
A)  outside-in 
B)  niche marketing 
C)  inside-out 
D)  societal marketing 
E)  customer-driven

Question 2

Explain how and why marketers go beyond selling a product or service to create brand experiences.

Accepted Answer

Sellers are most effective when they foc

Question 3

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 4

What should sellers consider if they wish to avoid marketing myopia?

Accepted Answer

Sellers should consider the pa

Question 5

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

Accepted Answer

In such industries, consumers do not kno

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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."
-Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the ________ concept.

Accepted Answer

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

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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 10

Which of the following strategies would a company most likely use to increase customer satisfaction?

Accepted Answer

A)  decreasing the variety of offered services 
B)  divesting 
C)  lowering prices 
D)  "firing" unprofitable customers 
E)  limiting customer experiences with a brand 
A)  decreasing the variety of offered services 
B)  divesting 
C)  lowering prices 
D)  "firing" unprofitable customers 
E)  limiting customer experiences with a brand

Question 11

The marketing world is most likely embracing ________ because consumers wield greater power now with many platforms for airing and sharing their brand views with other consumers.

Accepted Answer

A)  partner relationship management 
B)  supply chain management 
C)  customer-managed relationships 
D)  market segmentation 
E)  consumer ethnocentrism 
A)  partner relationship management 
B)  supply chain management 
C)  customer-managed relationships 
D)  market segmentation 
E)  consumer ethnocentrism

Question 12

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

Accepted Answer

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

Question 13

Define customer relationship management and explain its associated tools and levels of relationships.

Accepted Answer

Customer relationship management is the

Question 14

In which of the following situations has a company most actively embraced customer-managed relationships?

Accepted Answer

A)  American Airlines awards frequent flyer points to returning customers. 
B)  Paige Premium Denim jeans provide superior quality and perfect fit. 
C)  iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner. 
D)  Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group. 
E)  Toyota develops a marketing presence on social networks and other online communities. 
A)  American Airlines awards frequent flyer points to returning customers. 
B)  Paige Premium Denim jeans provide superior quality and perfect fit. 
C)  iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner. 
D)  Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group. 
E)  Toyota develops a marketing presence on social networks and other online communities.

Question 15

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Accepted Answer

A)  solving consumer problems 
B)  building customer relationships 
C)  helping customers shop 
D)  providing product information 
E)  working with suppliers 
A)  solving consumer problems 
B)  building customer relationships 
C)  helping customers shop 
D)  providing product information 
E)  working with suppliers

Question 16

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

Accepted Answer

A)  research and development 
B)  innovation and creativity 
C)  manufacturing efficiencies 
D)  value creation and exchange 
E)  sales and revenue creation 
A)  research and development 
B)  innovation and creativity 
C)  manufacturing efficiencies 
D)  value creation and exchange 
E)  sales and revenue creation

Question 17

A church targeting different demographic groups to increase attendance is an example of ________.

Accepted Answer

A)  affinity marketing 
B)  not-for-profit marketing 
C)  societal marketing 
D)  evangelism marketing 
E)  affiliate marketing 
A)  affinity marketing 
B)  not-for-profit marketing 
C)  societal marketing 
D)  evangelism marketing 
E)  affiliate marketing

Question 18

The final step in the marketing process is ________.

Accepted Answer

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

Question 19

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

Accepted Answer

A)  It requires minimum promotion efforts. 
B)  It creates long-term, profitable customer relationships. 
C)  It takes an outside-in perspective. 
D)  It is typically practiced with unsought goods. 
E)  It follows the customer-centered sense-and-respond philosophy. 
A)  It requires minimum promotion efforts. 
B)  It creates long-term, profitable customer relationships. 
C)  It takes an outside-in perspective. 
D)  It is typically practiced with unsought goods. 
E)  It follows the customer-centered sense-and-respond philosophy.

Question 20

Explain how the growth of digital technology has transformed the way in which companies conduct business today.

Accepted Answer

At the most basic level, marketers set u

A firm that uses the selling concept takes a(n) ________ approach.

Explain how and why marketers go beyond selling a product or service to create brand experiences.

Marketing is managing profitable customer relationships.

What should sellers consider if they wish to avoid marketing myopia?

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

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

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

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.

Which of the following strategies would a company most likely use to increase customer satisfaction?

The marketing world is most likely embracing ________ because consumers wield greater power now with many platforms for airing and sharing their brand views with other consumers.

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

Define customer relationship management and explain its associated tools and levels of relationships.

In which of the following situations has a company most actively embraced customer-managed relationships?

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

A church targeting different demographic groups to increase attendance is an example of ________.

The final step in the marketing process is ________.

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

Explain how the growth of digital technology has transformed the way in which companies conduct business today.

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

A firm that uses the selling concept takes a(n) ________ approach.

Explain how and why marketers go beyond selling a product or service to create brand experiences.

Marketing is managing profitable customer relationships.

What should sellers consider if they wish to avoid marketing myopia?

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

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

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

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.

Which of the following strategies would a company most likely use to increase customer satisfaction?

The marketing world is most likely embracing ________ because consumers wield greater power now with many platforms for airing and sharing their brand views with other consumers.

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

Define customer relationship management and explain its associated tools and levels of relationships.

In which of the following situations has a company most actively embraced customer-managed relationships?

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

A church targeting different demographic groups to increase attendance is an example of ________.

The final step in the marketing process is ________.

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

Explain how the growth of digital technology has transformed the way in which companies conduct business today.

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