Question 1

A customer-centred organisation seeks to maximise customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is one of the reasons customer-engagement marketing has become more meaningful to organisations and consumers?

Accepted Answer

A) Consumers are utilising partner relationship tools more often 
B) Customer life-time value is increased 
C) Rapid globalisation 
D) Consumers have more information 
E) It is easier to practice sustainability

Question 3

Frequent flyer programs offered by airlines are an example of a ________.

Accepted Answer

A) frequency marketing program 
B) basic customer relationship 
C) club marketing program 
D) consumer-generated marketing program 
E) structural benefit provided for top customers

Question 4

Human needs take the form of ________ as they are shaped by culture and individual personality.

Accepted Answer

The answer of Human needs take the form of ________...

Question 5

When backed by purchasing power,wants become ________.

Accepted Answer

A) social needs 
B) demands 
C) physical needs 
D) self-esteem needs 
E) exchanges

Question 6

Contemporary marketing practice is the responsibility of which group or groups of organisational employees?

Accepted Answer

A) marketing and finance 
B) sales and customer support 
C) information technology 
D) general management 
E) All of the above.

Question 7

Product,price,place and promotion make up the elements of a firm's marketing mix.

Accepted Answer

A) True 
 B)False

Question 8

Marketing is an activity,set of institutions and processes for creating,communicating,delivering and exchanging offerings to customers,clients,partners and society at large while ensuring long-term __________ for the firm.

Accepted Answer

The answer of Marketing is an activity,set of institutions and...

Question 9

Which of the following statements is NOT correct?

Accepted Answer

A) It is always appropriate to create a sense of excitement from buying,using and experiencing products. 
B) Marketing managers retain customers by ensuring that branded goods,services and experiences offer intrinsic value. 
C) There are instances where creating excitement might be inappropriate. 
D) All of the above. 
E) None of the above.

Question 10

Market offerings are limited to physical products.

Accepted Answer

A) True 
 B)False

Question 11

In its broadest sense,customer relationship management (CRM)is a customer data management activity.

Accepted Answer

A) True 
 B)False

Question 12

Marketing is an activity,set of institutions and processes for creating,communicating,delivering and exchanging offerings that have ________ for customers,clients,partners and society at large.

Accepted Answer

The answer of Marketing is an activity,set of institutions and...

Question 13

One of the challenges facing marketers as we move into the future is market ________ in many industries.

Accepted Answer

The answer of One of the challenges facing marketers as...

Question 14

The text classifies customers into four relationship groups,according to the customers' profitability and projected loyalty.________ are the customers with the highest profit potential and strong loyalty.

Accepted Answer

A) Barnacles 
B) Strangers 
C) Butterflies 
D) True friends 
E) Big fish

Question 15

A(n)________ is the set of all actual and potential buyers of a product.

Accepted Answer

The answer of A(n)________ is the set of all actual...

Question 16

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year.Dekko is using ________.

Accepted Answer

A) customer profitability analysis 
B) customer-managed relationships 
C) a club marketing program 
D) partner relationship management 
E) supply chain management

Question 17

The ultimate aim of customer relationship management is to produce ________.

Accepted Answer

A) high customer equity 
B) high current market share 
C) steady sales volume 
D) a reliable database 
E) higher sales volume

Question 18

A company with many low-margin customers may seek to develop ________ relationships with customers while companies operating in markets with few customers and high margins want to create ________ partnerships with key customers.

Accepted Answer

The answer of A company with many low-margin customers may...

Question 19

A team leader in charge of customer relationship management is planning strategies for improving the profitability of her firm's least profitable but loyal customers.She is also examining methods for 'firing' customers in this group who cannot be made profitable.To which of the following customer relationship groups do these customers belong?

Accepted Answer

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

Question 20

The ________ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program.

Accepted Answer

The answer of The ________ concept holds that consumers won't...

Exam 1: Marketing: Creating and Capturing Customer Value

A customer-centred organisation seeks to maximise customer satisfaction.

Which of the following is one of the reasons customer-engagement marketing has become more meaningful to organisations and consumers?

Frequent flyer programs offered by airlines are an example of a ________.

Human needs take the form of ________ as they are shaped by culture and individual personality.

When backed by purchasing power,wants become ________.

Contemporary marketing practice is the responsibility of which group or groups of organisational employees?

Product,price,place and promotion make up the elements of a firm's marketing mix.

Marketing is an activity,set of institutions and processes for creating,communicating,delivering and exchanging offerings to customers,clients,partners and society at large while ensuring long-term __________ for the firm.

Which of the following statements is NOT correct?

Market offerings are limited to physical products.

In its broadest sense,customer relationship management (CRM)is a customer data management activity.

Marketing is an activity,set of institutions and processes for creating,communicating,delivering and exchanging offerings that have ________ for customers,clients,partners and society at large.

One of the challenges facing marketers as we move into the future is market ________ in many industries.

The text classifies customers into four relationship groups,according to the customers' profitability and projected loyalty.________ are the customers with the highest profit potential and strong loyalty.

A(n)________ is the set of all actual and potential buyers of a product.

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year.Dekko is using ________.

The ultimate aim of customer relationship management is to produce ________.

A company with many low-margin customers may seek to develop relationships with customers while companies operating in markets with few customers and high margins want to create partnerships with key customers.

The ________ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program.