Question 1

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

Accepted Answer

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

Question 2

The selling concept holds that ________.

Accepted Answer

A)   consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts
B)   a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests
C)   consumers will only favor products that are available and highly affordable
D)   achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
E)   consumers will favor products that offer the most in quality, performance, and innovative features A

Question 3

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them.

Accepted Answer

A)   intrusion
B)   attraction
C)   competition
D)   forceful persuasion
E)   impersonal selling B

Question 4

Customer equity is a measure of the past value of a company's customer base.

Accepted Answer

A) True 
 B)False

Question 5

Market offerings are limited to physical products.

Accepted Answer

A) True 
 B)False

Question 6

Briefly explain the societal marketing concept.

Accepted Answer

The answer of Briefly explain the societal marketing concept....

Question 7

________ is the total combined customer lifetime values of all the company's current and potential customers.

Accepted Answer

A)   Share of customer
B)   Value proposition
C)   Customer equity
D)   Market share
E)   Customer-perceived value

Question 8

________ is the act of obtaining a desired object from someone by offering something in return.

Accepted Answer

A)   Targeting
B)   Segmentation
C)   Differentiation
D)   Exchange
E)   Positioning

Question 9

________ is the art and science of choosing target markets and building profitable relationships with them.

Accepted Answer

A)   Differentiation
B)   Marketing management
C)   Positioning
D)   Segmentation
E)   Value engineering

Question 10

Discuss the opportunities and challenges that new communication technologies have created for marketers.

Accepted Answer

The answer of Discuss the opportunities and challenges that new...

Question 11

________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Accepted Answer

A)   Customer-driven
B)   Mass
C)   Sustainable
D)   Customer-driving
E)   Ambush

Question 12

________ are customers who show low potential profitability and little projected loyalty.

Accepted Answer

A)   True friends
B)   Barnacles
C)   Strangers
D)   True believers
E)   Butterflies

Question 13

Compare and contrast the product and production concepts.

Accepted Answer

The answer of Compare and contrast the product and production...

Question 14

Using suitable examples, briefly compare and contrast the concepts of needs, wants, and demands. Discuss how these concepts relate to marketing practices.

Accepted Answer

The answer of Using suitable examples, briefly compare and contrast...

Question 15

The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and the National Highway Traffic Safety Administration is an example of a marketing offering for a(n)________.

Accepted Answer

A)   product
B)   person
C)   idea
D)   place
E)   organization

Question 16

The societal marketing concept holds that ________.

Accepted Answer

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

Question 17

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

Accepted Answer

The answer of Compare the selling and marketing concepts, and...

Question 18

Describe and compare the four types of customers classified by their potential profitability to an organization. Identify how an organization should manage each type of customer.

Accepted Answer

The answer of Describe and compare the four types of...

Question 19

Dividing a market into several sections of customers is known as ________.

Accepted Answer

A)   mass customization
B)   market positioning
C)   market segmentation
D)   value engineering
E)   undifferentiated marketing

Question 20

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-perceived value
B)   customer equity
C)   share of customer
D)   customer profitability
E)   customer lifetime value

Exam 1: Marketing: Creating Customer Value and Engagement