Question 1

Marketers must often understand customer needs even better than the customers themselves do.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following marketing management orientations is most likely to lead to marketing myopia?

Accepted Answer

A) 	Customer-driven marketing 
B) 	Production concept 
C) 	Social marketing 
D) 	Selling concept 
E) 	Customer-driven marketing.

Question 3

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business.He is a smart operator who knows that the key to this goal is to match ________ with ________.

Accepted Answer

The answer of Tommy Gray attempts to deliver customer satisfaction...

Question 4

Amazon.com leverages relationships with its 88 million customers by offering them music,videos,gifts,toys,consumer electronics,and office products,among other items.Based on previous purchase history,the company recommends related CDs,books,videos,or other products that might interest a customer.This most directly helps Amazon.com capture a greater ________.

Accepted Answer

The answer of Amazon.com leverages relationships with its 88 million...

Question 5

Marketing consists of actions taken to build and maintain desirable exchange relationships with ________ involving a product,service,idea,or other object.

Accepted Answer

The answer of Marketing consists of actions taken to build...

Question 6

Which of the following reflects the marketing concept philosophy?

Accepted Answer

A) "We don't have a marketing department; we have a customer department." 
B) "We're in the business of making and selling superior products." 
C) "We build them so you can buy them."
"When it's profits versus customers' needs, profits will always win out." 
D) "You won't find a better deal anywhere."

Question 7

A firm that uses the selling concept takes a(n)________ approach.

Accepted Answer

The answer of A firm that uses the selling concept...

Question 8

Competitors are one of the main elements in the modern marketing system.

Accepted Answer

A) True 
 B)False

Question 9

Core ________ activities include consumer research,product development,communication,distribution,pricing,and service.

Accepted Answer

The answer of Core ________ activities include consumer research,product development,communication,distribution,pricing,and...

Question 10

In markets with few customers and high margins,sellers want to create full partnerships with key customers.

Accepted Answer

A) True 
 B)False

Question 11

Compare the selling and marketing concepts,listing the key components of each philosophy.

Accepted Answer

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

Question 12

With selective relationship management,companies use customer profitability analysis to eliminate losing customers and target winning ones.

Accepted Answer

A) True 
 B)False

Question 13

How can a marketer increase "share of customer"?

Accepted Answer

The answer of How can a marketer increase "share of...

Question 14

Customer satisfaction is the extent to which a product's perceived performance matches the seller's expectations.

Accepted Answer

A) True 
 B)False

Question 15

Marketing is only selling and advertising.

Accepted Answer

A) True 
 B)False

Question 16

According to the production concept,consumers will favour products that are ________ and ________.

Accepted Answer

The answer of According to the production concept,consumers will favour...

Question 17

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

Accepted Answer

The answer of The art and science of choosing target...

Question 18

Fast Food Inc.views marketing as the science and art of finding,retaining,and growing profitable customers by providing them with the food they want.Fast Food Inc.practises societal marketing.

Accepted Answer

A) True 
 B)False

Question 19

Define customer equity and explain how a company can increase it.

Accepted Answer

The answer of Define customer equity and explain how a...

Question 20

Which of the following reflects the marketing concept?

Accepted Answer

A) 	"The supplier is king." 
B) 	"Marketing should be viewed as hunting and not gardening." 
C) 	"This is what I make; won't you please buy it?" 
D) 	"We don't have a marketing department; we have a customer department." 
E) 	"Customers need to be told where they want to go."

Exam 1: Marketing: Creating and Capturing Customer Value

Marketers must often understand customer needs even better than the customers themselves do.

Which of the following marketing management orientations is most likely to lead to marketing myopia?

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business.He is a smart operator who knows that the key to this goal is to match with .

Marketing consists of actions taken to build and maintain desirable exchange relationships with ________ involving a product,service,idea,or other object.

Which of the following reflects the marketing concept philosophy?

A firm that uses the selling concept takes a(n)________ approach.

Competitors are one of the main elements in the modern marketing system.

Core ________ activities include consumer research,product development,communication,distribution,pricing,and service.

In markets with few customers and high margins,sellers want to create full partnerships with key customers.

Compare the selling and marketing concepts,listing the key components of each philosophy.

With selective relationship management,companies use customer profitability analysis to eliminate losing customers and target winning ones.

How can a marketer increase "share of customer"?

Customer satisfaction is the extent to which a product's perceived performance matches the seller's expectations.

Marketing is only selling and advertising.

According to the production concept,consumers will favour products that are and .

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

Fast Food Inc.views marketing as the science and art of finding,retaining,and growing profitable customers by providing them with the food they want.Fast Food Inc.practises societal marketing.

Define customer equity and explain how a company can increase it.

Which of the following reflects the marketing concept?