Question 1

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

Accepted Answer

A) True 
 B)False

Question 2

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

Question 3

For most marketers, customer relationship management (CRM) is exclusively a matter of customer data management.

Accepted Answer

A) True 
 B)False

Question 4

________ is one of the best ways to increase share of customer.

Accepted Answer

A)  Targeting new customers 
B)  Using bait and switch 
C)  Cross-selling 
D)  Divesting 
E)  Partnership marketing

Question 5

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

Accepted Answer

The answer of What should sellers consider if they wish...

Question 6

The new digital world makes it easy for consumers to take marketing content, that once lived only in advertising, with them wherever they go and share it with friends.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The marketing concept that starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers takes a(n) ________.

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

Question 9

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.

Question 10

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

Accepted Answer

A)  customer-driven 
B)  customer-driving 
C)  societal 
D)  ambush 
E)  affinity

Question 11

The portion of the customer's purchasing that a company gets in its product categories is known as ________.

Accepted Answer

A)  customer-perceived value 
B)  share of customer 
C)  customer insight 
D)  consumption function 
E)  induced consumption

Question 12

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

Accepted Answer

A)  marketing management 
B)  positioning 
C)  marketing mix 
D)  market offering 
E)  differentiation

Question 13

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.

Accepted Answer

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

Question 14

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Accepted Answer

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

Question 15

Which of the following terms refer to customers who make repeat purchases and tell others about their positive experiences with a product or service?

Accepted Answer

A)  barnacles 
B)  customer evangelists 
C)  butterflies 
D)  surrogate customers 
E)  market mavens

Question 16

Human needs are shaped by culture and individual personality.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Accepted Answer

A)  customer lock-in 
B)  a cartel 
C)  marketing mix 
D)  value proposition 
E)  market segmentation

Question 18

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

Question 19

The primary key to delivering customer satisfaction is to match product performance with ________.

Accepted Answer

A)  the competitor products' performance 
B)  competitive prices 
C)  aggressive advertising 
D)  limited customer services 
E)  customer expectations

Question 20

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________.

Accepted Answer

A)  need 
B)  necessity 
C)  demand 
D)  exchange 
E)  transaction

Exam 1: Marketing: Creating and Capturing Customer Value

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

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

For most marketers, customer relationship management (CRM) is exclusively a matter of customer data management.

________ is one of the best ways to increase share of customer.

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

The new digital world makes it easy for consumers to take marketing content, that once lived only in advertising, with them wherever they go and share it with friends.

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

The marketing concept that starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers takes a(n) ________.

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

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

The portion of the customer's purchasing that a company gets in its product categories is known as ________.

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

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Which of the following terms refer to customers who make repeat purchases and tell others about their positive experiences with a product or service?

Human needs are shaped by culture and individual personality.

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

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

The primary key to delivering customer satisfaction is to match product performance with ________.

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________.