Question 1

____ occurs when an organization chooses to market and sell the same product and service to all consumers.

Accepted Answer

A)   Niche marketing
B)   Market aggregation
C)   Market consolidation
D)   Mass market customization
E)   Target marketing B

Question 2

Intermarket segmentation is the identification of groups of customers who transcend traditional market or geographic boundaries.

Accepted Answer

A) True 
 B)False  True

Question 3

The difference in value created by a brand less the cost of creating the brand is known as brand equity.

Accepted Answer

A) True 
 B)False  True

Question 4

Having a customer-centric organization means that a firm has which of the following characteristics?

Accepted Answer

A)   System-wide simultaneous training
B)   Customer-based metrics
C)   Cross-function integration
D)   Shared vision and values
E)   All of the above are characteristics of a customer-centric organization.

Question 5

The functional elements of a brand does not include:

Accepted Answer

A)   Quality
B)   Performance
C)   Logistics
D)   Service
E)   All of the above are functional elements of a brand.

Question 6

The degree to which a market can be reached is called:

Accepted Answer

A)   Measurability
B)   Marketability
C)   Accessibility
D)   Substantiality
E)   Congruency

Question 7

Customer-centricity is a strategic commitment to focus the firm's resources on serving and delighting all customers.

Accepted Answer

A) True 
 B)False

Question 8

Marketing attempts to get consumers to buy new products are almost always successful.

Accepted Answer

A) True 
 B)False

Question 9

The opposite of market aggregation is mass marketing.

Accepted Answer

A) True 
 B)False

Question 10

Marketing strategy involves the allocation of resources to develop and sell products or services that consumers will perceive to provide more value than competitive products or services.

Accepted Answer

A) True 
 B)False

Question 11

The final stage of marketing strategy in customer-centric organizations is:

Accepted Answer

A)   brand strategy.
B)   implementation.
C)   market analysis.
D)   market segmentation.
E)   manufacturing and production efficiencies.

Question 12

Price is the total bundle of disutilities given up by consumers in exchange for a product.

Accepted Answer

A) True 
 B)False

Question 13

What is meant by intermarket segmentation?

Accepted Answer

The answer of What is meant by intermarket segmentation?...

Question 14

Some advertising messages and specific product characteristics tend to be better suited than others for a globalized advertising approach. These include:

Accepted Answer

A)   The product satisfies universal needs and desires
B)   The communication message is based on similar lifestyles
C)   The appeal of the ad is to basic human needs and emotions
D)   A and C
E)   All of the above.

Question 15

A market segment is a group of consumers with similar needs and behavior that differ from those of the entire mass market.

Accepted Answer

A) True 
 B)False

Question 16

Cultural empathy refers to the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems.

Accepted Answer

A) True 
 B)False

Question 17

Excellent marketing strategy can overcome poor execution.

Accepted Answer

A) True 
 B)False

Question 18

____ is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Accepted Answer

A)   Ethnographics
B)   Cross-cultural analysis
C)   Cultural empathy
D)   Country-of-origin research
E)   Intermarket analysis

Question 19

Market segmentation is the process of identifying a group of people similar in one or more ways.

Accepted Answer

A) True 
 B)False

Question 20

The primary challenge for international marketing programs is to build the core of the marketing strategy on the differences between countries.

Accepted Answer

A) True 
 B)False

Exam 2: Creating Marketing Strategies for Customer-Centric Organizations

____ occurs when an organization chooses to market and sell the same product and service to all consumers.

Intermarket segmentation is the identification of groups of customers who transcend traditional market or geographic boundaries.

The difference in value created by a brand less the cost of creating the brand is known as brand equity.

Having a customer-centric organization means that a firm has which of the following characteristics?

The functional elements of a brand does not include:

The degree to which a market can be reached is called:

Customer-centricity is a strategic commitment to focus the firm's resources on serving and delighting all customers.

Marketing attempts to get consumers to buy new products are almost always successful.

The opposite of market aggregation is mass marketing.

Marketing strategy involves the allocation of resources to develop and sell products or services that consumers will perceive to provide more value than competitive products or services.

The final stage of marketing strategy in customer-centric organizations is:

Price is the total bundle of disutilities given up by consumers in exchange for a product.

What is meant by intermarket segmentation?

Some advertising messages and specific product characteristics tend to be better suited than others for a globalized advertising approach. These include:

A market segment is a group of consumers with similar needs and behavior that differ from those of the entire mass market.

Cultural empathy refers to the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems.

Excellent marketing strategy can overcome poor execution.

____ is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Market segmentation is the process of identifying a group of people similar in one or more ways.

The primary challenge for international marketing programs is to build the core of the marketing strategy on the differences between countries.