Exam 1: Marketing: Managing Profitable Customer Relationships

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?

Customer-perceived value is determined by a customer's ________ of the benefits and costs of a market offering relative to those of competing offers.

Elsie,a marketing manager at a regional chain restaurant,has decided to sponsor a contest calling for customers to create commercials for the restaurant.Winning entries will be posted on the organization's home page.Elisandra's plan is an example of ________.

________ are human needs as shaped by individual personality and culture.

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

Only sellers of products,services,and ideas practice marketing; buyers do not.

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

What determines whether sellers pursue basic relationships or full partnerships with customers?

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practicing the selling concept.

Market offerings are limited to physical products.

Customer-perceived value is defined as the customer's evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

Explain why the aim of customer relationship management is to create not just customer satisfaction,but also customer delight.

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

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.

Alex works in the marketing department of an international company.In what ways might Alex use modern technologies to conduct market research in order to learn more about and better serve his company's customers?

Your government has budgeted a significant amount of money for a radio,print,television,and online advertising campaign emphasizing the long-term benefits,both educationally and professionally,of reading every day.This is an example of a(n)________ campaign.

Amy's law office has developed a new format and wording for wills.The staff believes they offer the most in quality,performance,and innovative features.Her law office is practicing the production concept.

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

A(n)________ is some combination of products,services,information,or experiences offered to consumers to satisfy a need or want.

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