Question 1

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

Accepted Answer

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

Question 2

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

Accepted Answer

The answer of Define customer relationship management and explain its...

Question 3

In a short essay,describe and compare the four types of customers classified by their potential profitability to an organization.Explain how an organization should manage each type of customer.

Accepted Answer

The answer of In a short essay,describe and compare the...

Question 4

UPS seeks more than just sales and profits.Its three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and environmental stewardship.UPS applies the ________ philosophy.

Accepted Answer

The answer of UPS seeks more than just sales and...

Question 5

The final step in the marketing process is ________.

Accepted Answer

The answer of The final step in the marketing process...

Question 6

Market offerings are limited to products and services.Persons,places,organizations,information,and ideas are not included.

Accepted Answer

A) True 
 B)False

Question 7

You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

Accepted Answer

A) 	Full partnerships 
B) 	Basic relationships 
C) 	Basic partnerships 
D) 	Club programs 
E) 	Selective relationships

Question 8

Marketing is the process by which companies create value for all the shareholders in order to build strong relationships with them in return.

Accepted Answer

A) True 
 B)False

Question 9

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves both consumers' and society's well-being?

Accepted Answer

A) 	Marketing 
B) 	Selling 
C) 	Product 
D) 	Societal marketing 
E) 	Equity

Question 10

What is the first step of the five-step marketing process?

Accepted Answer

A) 	Design a customer-driven marketing strategy. 
B) 	Set a profitable price. 
C) 	Build profitable relationships. 
D) 	Understand the marketplace and customer needs and wants. 
E) 	Construct a marketing program that delivers superior value.

Question 11

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

Accepted Answer

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

Question 12

A company needs to construct a marketing program that delivers superior value and then ________ according to the five-step model of the marketing process described in the text.

Accepted Answer

The answer of A company needs to construct a marketing...

Question 13

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Which of the following defines the total combined customer lifetime values of all of a company's current and potential customers?

Accepted Answer

A) 	Share of customer 
B) 	Customer lifetime value 
C) 	Customer equity 
D) 	Profitability 
E) 	Share of market

Question 16

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)________ perspective.

Accepted Answer

The answer of Herb Kelleher of Southwest Airlines used the...

Question 17

To create customer value and build strong customer relationships,today's marketers know they cannot go it alone; therefore,they practise ________.

Accepted Answer

The answer of To create customer value and build strong...

Question 18

In a short essay,discuss the challenges and advantages that new communication technologies have created for marketers.

Accepted Answer

The answer of In a short essay,discuss the challenges and...

Question 19

Harley-Davidson sponsors the Harley Owners Group (H.O.G.)worldwide clubs,which gives Harley owners "an organized way to share their passion and show their pride." This is an example of which of the following?

Accepted Answer

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

Question 20

The following is an accurate description of modern marketing:

Accepted Answer

A) 	Marketing is maximizing profits. 
B) 	Selling and advertising are synonymous with marketing. 
C) 	Marketing is all about sales. 
D) 	Marketing involves satisfying customers' needs in a socially responsible and ethical manner. 
E) 	Marketing is used only by for-profit organizations.

Exam 1: Marketing: Creating and Capturing Customer Value

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

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

In a short essay,describe and compare the four types of customers classified by their potential profitability to an organization.Explain how an organization should manage each type of customer.

UPS seeks more than just sales and profits.Its three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and environmental stewardship.UPS applies the ________ philosophy.

The final step in the marketing process is ________.

Market offerings are limited to products and services.Persons,places,organizations,information,and ideas are not included.

You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

Marketing is the process by which companies create value for all the shareholders in order to build strong relationships with them in return.

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves both consumers' and society's well-being?

What is the first step of the five-step marketing process?

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

A company needs to construct a marketing program that delivers superior value and then ________ according to the five-step model of the marketing process described in the text.

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

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

Which of the following defines the total combined customer lifetime values of all of a company's current and potential customers?

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)________ perspective.

To create customer value and build strong customer relationships,today's marketers know they cannot go it alone; therefore,they practise ________.

In a short essay,discuss the challenges and advantages that new communication technologies have created for marketers.

Harley-Davidson sponsors the Harley Owners Group (H.O.G.) worldwide clubs,which gives Harley owners "an organized way to share their passion and show their pride." This is an example of which of the following?

The following is an accurate description of modern marketing: