Question 1

A company that enjoys high levels of loyalty from its most profitable market segments would be said to have high levels of:

Accepted Answer

A)  share of purse. 
B)  brand equity. 
C)  share of wallet. 
D)  customer equity. 
E)  share of mind. 
A)  share of purse. 
B)  brand equity. 
C)  share of wallet. 
D)  customer equity. 
E)  share of mind.

Question 2

When buyers make decisions which do not appear to maximise value, which of the following can be a plausible explanation?

Accepted Answer

A)  The buyer may have standing decision rules in effect, such as buy the lowest priced offer. 
B)  The buyer may be determining value differently than is the seller. 
C)  The sale may be based upon an on- going relationship between buyer and seller. 
D)  all of the above 
E)  none of the above 
A)  The buyer may have standing decision rules in effect, such as buy the lowest priced offer. 
B)  The buyer may be determining value differently than is the seller. 
C)  The sale may be based upon an on- going relationship between buyer and seller. 
D)  all of the above 
E)  none of the above

Question 3

The Niketown running club that organises twice weekly evening runs for Nike customers is an example of a_________ .

Accepted Answer

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

Question 4

Which of the following factors would a marketer NOT normally consider when estimating the real value of a customer lifetime?

Accepted Answer

A)  the cost of maintaining the relationship with this type of customer 
B)  the average profit contribution from a purchase 
C)  the likely future purchase pattern of this type of customer 
D)  the customer's frequency of purchase in each period 
E)  the customer's discretionary spending for the product category 
A)  the cost of maintaining the relationship with this type of customer 
B)  the average profit contribution from a purchase 
C)  the likely future purchase pattern of this type of customer 
D)  the customer's frequency of purchase in each period 
E)  the customer's discretionary spending for the product category

Question 5

One of the problems marketers face regarding customer retention is that classic marketing theory and practice emphasises:

Accepted Answer

A)  reducing distribution costs rather than curtailing advertising. 
B)  creating transactions rather than relationships. 
C)  reselling to customers rather than finding new ones. 
D)  product image over product value. 
E)  all of the above 
A)  reducing distribution costs rather than curtailing advertising. 
B)  creating transactions rather than relationships. 
C)  reselling to customers rather than finding new ones. 
D)  product image over product value. 
E)  all of the above

Question 6

_________with a purchase depends upon the product's performance relative to a buyer's expectations.

Accepted Answer

A)  Customer loyalty 
B)  Customer delivered value 
C)  Customer satisfaction 
D)  Customer purchase intention 
E)  all of the above 
A)  Customer loyalty 
B)  Customer delivered value 
C)  Customer satisfaction 
D)  Customer purchase intention 
E)  all of the above

Question 7

To understand the concept of customer value, it is important to remember that:

Accepted Answer

A)  customers are value- maximisers. 
B)  most customers are unaware of the actual value they receive in consuming products. 
C)  some customers are more important than others. 
D)  all of the above 
E)  none of the above 
A)  customers are value- maximisers. 
B)  most customers are unaware of the actual value they receive in consuming products. 
C)  some customers are more important than others. 
D)  all of the above 
E)  none of the above

Question 8

A key challenge for modern marketers is whether "to meet or beat expectations." Comment on this statement and explain why it is so difficult to beat expectations in the long term.

Accepted Answer

Managing customer expectations is indeed

Question 9

In a customer- centred organisation, one of the most difficult areas for marketing managers to measure is:

Accepted Answer

A)  share of customer. 
B)  ROMI of sales activity. 
C)  ROMI of social media. 
D)  brand equity. 
E)  ROMI of advertising expenditure. 
A)  share of customer. 
B)  ROMI of sales activity. 
C)  ROMI of social media. 
D)  brand equity. 
E)  ROMI of advertising expenditure.

Question 10

When buying a lawnmower, Cherry will form her product expectations based on:

Accepted Answer

A)  how well the same brand of mower cuts the grass in her neighbour's yard. 
B)  how easy it was to operate her previous mower. 
C)  how well she expects the mower to cut the grass in her yard. 
D)  a comparison of the mower she plans on buying with its competition. 
E)  all of the above 
A)  how well the same brand of mower cuts the grass in her neighbour's yard. 
B)  how easy it was to operate her previous mower. 
C)  how well she expects the mower to cut the grass in her yard. 
D)  a comparison of the mower she plans on buying with its competition. 
E)  all of the above

Question 11

Customer satisfaction is based on a comparison of the consumer's pre- purchase expectations and their actual perceptions of the product or service.

Accepted Answer

A) True 
 B)False

Question 12

Customer satisfaction is a global concept that refers to the customer's overall evaluation of a product performance or a service encounter and is formed after consumption. It is not normally used to evaluate product component parts or steps of the service delivery process.

Accepted Answer

A) True 
 B)False

Question 13

More companies today are patnering with external organisations such as suppliers and distributors to improve the performance of the value delivery network.

Accepted Answer

A) True 
 B)False

Question 14

Doug Dobbins liked his subcompact minicar, the Micro. The Micro didn't have much pickup and wasn't very attractive but it was easy to park and got great mileage. That's all I want in a car, thought Doug. From Doug's response, we can infer that the makers of the Micro have:

Accepted Answer

A)  achieved an acceptable level of customer satisfaction. 
B)  offered the lowest total customer cost. 
C)  maximised customer satisfaction. 
D)  all of the above 
E)  none of the above 
A)  achieved an acceptable level of customer satisfaction. 
B)  offered the lowest total customer cost. 
C)  maximised customer satisfaction. 
D)  all of the above 
E)  none of the above

Question 15

When a manager telephones his or her own company to see how the company handles the call, it is a variation of which method of measuring customer satisfaction?

Accepted Answer

A)  complaint and suggestion system 
B)  lost customer analysis 
C)  customer satisfaction surveys 
D)  mystery shopping 
E)  none of the above 
A)  complaint and suggestion system 
B)  lost customer analysis 
C)  customer satisfaction surveys 
D)  mystery shopping 
E)  none of the above

Question 16

The marketing concept holds that:

Accepted Answer

A)  a better product will by itself lead people to buy it without much effort from the sellers. 
B)  consumers and businesses, if left alone, won't buy enough of the organisation's products. 
C)  a new product will not be successful unless it is priced, distributed, and sold properly. 
D)  a firm should find the right products for its customers, and not the right customers for its products. 
E)  customers who are coaxed into buying a product will most likely buy it again. 
A)  a better product will by itself lead people to buy it without much effort from the sellers. 
B)  consumers and businesses, if left alone, won't buy enough of the organisation's products. 
C)  a new product will not be successful unless it is priced, distributed, and sold properly. 
D)  a firm should find the right products for its customers, and not the right customers for its products. 
E)  customers who are coaxed into buying a product will most likely buy it again.

Question 17

When Campbell Soup sets high standards for suppliers and then selects only those few who are willing to meet those standards, their joint effort to constantly improve performance is an example of a(n):

Accepted Answer

A)  horizontally integrated manufacturing. 
B)  customer value delivery network. 
C)  joint venture. 
D)  value added production synergy. 
E)  integrated production operations management. 
A)  horizontally integrated manufacturing. 
B)  customer value delivery network. 
C)  joint venture. 
D)  value added production synergy. 
E)  integrated production operations management.

Question 18

Which of the following statements BEST encapsulates the underlying logic of customer lifetime value?

Accepted Answer

A)  Companies should continually strive to increase the value of its products and services for the lifetime of a defined market segment. 
B)  Companies should focus their efforts on locating and serving the interests of the most profitable market segments. 
C)  Companies should seek to profit from both individual transactions and the overall relationship with a customer. 
D)  Companies should use de- marketing to reduce the size of less profitable market segments. 
E)  Companies should be prepared to make little profit from individual transactions and instead focus on the value generated by the term of its relationship with a customer. 
A)  Companies should continually strive to increase the value of its products and services for the lifetime of a defined market segment. 
B)  Companies should focus their efforts on locating and serving the interests of the most profitable market segments. 
C)  Companies should seek to profit from both individual transactions and the overall relationship with a customer. 
D)  Companies should use de- marketing to reduce the size of less profitable market segments. 
E)  Companies should be prepared to make little profit from individual transactions and instead focus on the value generated by the term of its relationship with a customer.

Question 19

Customer satisfaction is a measure used to evaluate services but is not normally used to evaluate products.

Accepted Answer

A) True 
 B)False

Question 20

Customer satisfaction refers to an objective measure of a product's fitness for purpose.

Accepted Answer

A) True 
 B)False

A company that enjoys high levels of loyalty from its most profitable market segments would be said to have high levels of:

When buyers make decisions which do not appear to maximise value, which of the following can be a plausible explanation?

The Niketown running club that organises twice weekly evening runs for Nike customers is an example of a_________ .

Which of the following factors would a marketer NOT normally consider when estimating the real value of a customer lifetime?

One of the problems marketers face regarding customer retention is that classic marketing theory and practice emphasises:

_________with a purchase depends upon the product's performance relative to a buyer's expectations.

To understand the concept of customer value, it is important to remember that:

A key challenge for modern marketers is whether "to meet or beat expectations." Comment on this statement and explain why it is so difficult to beat expectations in the long term.

In a customer- centred organisation, one of the most difficult areas for marketing managers to measure is:

When buying a lawnmower, Cherry will form her product expectations based on:

Customer satisfaction is based on a comparison of the consumer's pre- purchase expectations and their actual perceptions of the product or service.

Customer satisfaction is a global concept that refers to the customer's overall evaluation of a product performance or a service encounter and is formed after consumption. It is not normally used to evaluate product component parts or steps of the service delivery process.

More companies today are patnering with external organisations such as suppliers and distributors to improve the performance of the value delivery network.

Doug Dobbins liked his subcompact minicar, the Micro. The Micro didn't have much pickup and wasn't very attractive but it was easy to park and got great mileage. That's all I want in a car, thought Doug. From Doug's response, we can infer that the makers of the Micro have:

When a manager telephones his or her own company to see how the company handles the call, it is a variation of which method of measuring customer satisfaction?

The marketing concept holds that:

When Campbell Soup sets high standards for suppliers and then selects only those few who are willing to meet those standards, their joint effort to constantly improve performance is an example of a(n):

Which of the following statements BEST encapsulates the underlying logic of customer lifetime value?

Customer satisfaction is a measure used to evaluate services but is not normally used to evaluate products.

Customer satisfaction refers to an objective measure of a product's fitness for purpose.

Marketing: Creating Superior Customer Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters

Exam 2: Marketing: Delivering and Capturing Value

A company that enjoys high levels of loyalty from its most profitable market segments would be said to have high levels of:

When buyers make decisions which do not appear to maximise value, which of the following can be a plausible explanation?

The Niketown running club that organises twice weekly evening runs for Nike customers is an example of a_________ .

Which of the following factors would a marketer NOT normally consider when estimating the real value of a customer lifetime?

One of the problems marketers face regarding customer retention is that classic marketing theory and practice emphasises:

_________with a purchase depends upon the product's performance relative to a buyer's expectations.

To understand the concept of customer value, it is important to remember that:

A key challenge for modern marketers is whether "to meet or beat expectations." Comment on this statement and explain why it is so difficult to beat expectations in the long term.

In a customer- centred organisation, one of the most difficult areas for marketing managers to measure is:

When buying a lawnmower, Cherry will form her product expectations based on:

Customer satisfaction is based on a comparison of the consumer's pre- purchase expectations and their actual perceptions of the product or service.

Customer satisfaction is a global concept that refers to the customer's overall evaluation of a product performance or a service encounter and is formed after consumption. It is not normally used to evaluate product component parts or steps of the service delivery process.

More companies today are patnering with external organisations such as suppliers and distributors to improve the performance of the value delivery network.

Doug Dobbins liked his subcompact minicar, the Micro. The Micro didn't have much pickup and wasn't very attractive but it was easy to park and got great mileage. That's all I want in a car, thought Doug. From Doug's response, we can infer that the makers of the Micro have:

When a manager telephones his or her own company to see how the company handles the call, it is a variation of which method of measuring customer satisfaction?

The marketing concept holds that:

When Campbell Soup sets high standards for suppliers and then selects only those few who are willing to meet those standards, their joint effort to constantly improve performance is an example of a(n):

Which of the following statements BEST encapsulates the underlying logic of customer lifetime value?

Customer satisfaction is a measure used to evaluate services but is not normally used to evaluate products.

Customer satisfaction refers to an objective measure of a product's fitness for purpose.

Marketing: Creating Superior Customer Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters