Question 1

Which of the following statements best summarises the marketing philosophy?

Accepted Answer

A)  Achieving organisational goals depends on offering products that offer the most in terms of quality, performance and innovative features. 
B)  Encouraging customers to purchase an organisation's products requires large scale selling and promotional efforts. 
C)  Management should focus on improving production and distribution efficiencies in order to offer consumers products that are readily available and highly affordable. 
D)  Achieving organisational goals depends on understanding the target market's needs and wants and delivering satisfaction better than competitors. 
E)  A company's marketing decisions should consider consumers' wants, the company's requirements, and consumers' and society's long- run interests. 
A)  Achieving organisational goals depends on offering products that offer the most in terms of quality, performance and innovative features. 
B)  Encouraging customers to purchase an organisation's products requires large scale selling and promotional efforts. 
C)  Management should focus on improving production and distribution efficiencies in order to offer consumers products that are readily available and highly affordable. 
D)  Achieving organisational goals depends on understanding the target market's needs and wants and delivering satisfaction better than competitors. 
E)  A company's marketing decisions should consider consumers' wants, the company's requirements, and consumers' and society's long- run interests.

Question 2

Beyond standard performance measures such as ROI and sales, marketers are increasingly using customer- centred measures of marketing impact. Which of the following is NOT a customer- centred measure of marketing impact?

Accepted Answer

A)  customer equity 
B)  customer retention 
C)  customer lifetime value 
D)  share of market 
E)  customer acquisition 
A)  customer equity 
B)  customer retention 
C)  customer lifetime value 
D)  share of market 
E)  customer acquisition

Question 3

An evaluation comparison between a product's performance and the buyer's expectations is the basis for determining:

Accepted Answer

A)  customer loyalty. 
B)  customer delivered value. 
C)  total customer value. 
D)  customer satisfaction. 
E)  none of the above 
A)  customer loyalty. 
B)  customer delivered value. 
C)  total customer value. 
D)  customer satisfaction. 
E)  none of the above

Question 4

Basically, there is no cost difference between retaining current customers and acquiring new ones.

Accepted Answer

A) True 
 B)False

Question 5

Totally satisfied customers are more likely to be:

Accepted Answer

A)  reliable. 
B)  delighted. 
C)  complete. 
D)  accountable. 
E)  loyal. 
A)  reliable. 
B)  delighted. 
C)  complete. 
D)  accountable. 
E)  loyal.

Question 6

To increase share of customer, companies can offer greater variety to current customers or they can create programmes to cross- sell and up- sell to market more products and services to existing customers.

Accepted Answer

A) True 
 B)False

Question 7

Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as:

Accepted Answer

A)  frequency programmes. 
B)  benefit programmes. 
C)  quality programmes. 
D)  profitability programmes. 
E)  satisfaction programmes. 
A)  frequency programmes. 
B)  benefit programmes. 
C)  quality programmes. 
D)  profitability programmes. 
E)  satisfaction programmes.

Question 8

According to an example provided in the text, the ANZ Bank offered to pay customers $5 if they were required to wait more than five minutes for service. This tactic was not successful because:

Accepted Answer

A)  the demands of speedy service provision created high levels of stress for employees, leading to employee dissatisfaction. 
B)  customers began to focus on the time resulting in perceptions of even longer waiting times. 
C)  the Bank had to pay too many customers with serious consequences for profitability. 
D)  five minutes was not within the typical ANZ customer's zone of tolerance. 
E)  a rival bank enjoyed average wait times that were below the five minute threshold. 
A)  the demands of speedy service provision created high levels of stress for employees, leading to employee dissatisfaction. 
B)  customers began to focus on the time resulting in perceptions of even longer waiting times. 
C)  the Bank had to pay too many customers with serious consequences for profitability. 
D)  five minutes was not within the typical ANZ customer's zone of tolerance. 
E)  a rival bank enjoyed average wait times that were below the five minute threshold.

Question 9

The customer's conscious evaluation of a product or service feature, or of the product or service itself is known as customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 10

Select the term that best completes the following sentence. According to a recent study reported in the text found that _________of consumers say that they would rather get the best brand than the best price.

Accepted Answer

A)  65 per cent 
B)  35 per cent 
C)  90 per cent 
D)  55 per cent 
E)  75 per cent 
A)  65 per cent 
B)  35 per cent 
C)  90 per cent 
D)  55 per cent 
E)  75 per cent

Question 11

According to the text, employee satisfaction with a company is important because:

Accepted Answer

A)  employee satisfaction is an important societal responsibility. 
B)  satisfied employees are less likely to engage in industrial action. 
C)  satisfied employees are less likely to demand salary increases. 
D)  employee satisfaction is associated with customer satisfaction. 
E)  none of the above 
A)  employee satisfaction is an important societal responsibility. 
B)  satisfied employees are less likely to engage in industrial action. 
C)  satisfied employees are less likely to demand salary increases. 
D)  employee satisfaction is associated with customer satisfaction. 
E)  none of the above

Question 12

Club marketing programmes offer customer members special benefits and create member communities.

Accepted Answer

A) True 
 B)False

Question 13

Return on marketing investment (ROMI) is very difficult to measure because:

Accepted Answer

A)  marketers cannot agree on a consistent unit of measurement for ROMI. 
B)  marketers cannot agree on a universal definition of ROMI. 
C)  the benefit of marketing expenditure may not be felt for many years. 
D)  ROMI is often overlooked in favour of simpler, more readily available measures. 
E)  marketing and management are engaged in a protracted dispute over the superiority of ROI versus ROMI as a performance measure. 
A)  marketers cannot agree on a consistent unit of measurement for ROMI. 
B)  marketers cannot agree on a universal definition of ROMI. 
C)  the benefit of marketing expenditure may not be felt for many years. 
D)  ROMI is often overlooked in favour of simpler, more readily available measures. 
E)  marketing and management are engaged in a protracted dispute over the superiority of ROI versus ROMI as a performance measure.

Question 14

Frequency marketing programmes offer customers a reward such as price discounts, free upgrades or the opportunity to trade points for gifts, as a means of building a relationship with the customer.

Accepted Answer

A) True 
 B)False

Question 15

List and describe any two (2) methods for assessing customer satisfaction.

Accepted Answer

Methods used to measure customer satisfa

Question 16

Total customer satisfaction is conceptualised as the relationship between:

Accepted Answer

A)  past experience and present experience. 
B)  advertised outcomes and real outcomes. 
C)  perceived performance and expectation. 
D)  expected value and total customer benefit. 
E)  customer attitude and salesperson's attitude. 
A)  past experience and present experience. 
B)  advertised outcomes and real outcomes. 
C)  perceived performance and expectation. 
D)  expected value and total customer benefit. 
E)  customer attitude and salesperson's attitude.

Question 17

Frequeny marketing programmes offer customers membership of a club which enables them to access special services and are designed to recognise the customer's worth to the business.

Accepted Answer

A) True 
 B)False

Question 18

Customer satisfaction is an excellent predictor of customer loyalty.

Accepted Answer

A) True 
 B)False

Question 19

The value of the entire stream of purchases that a customer generates during the time s/he does business with a company is called:

Accepted Answer

A)  the customer's cost- benefit ratio. 
B)  the customer's value- added portfolio. 
C)  the customer's lifetime value. 
D)  the customer's profit margin analysis. 
E)  all of the above 
A)  the customer's cost- benefit ratio. 
B)  the customer's value- added portfolio. 
C)  the customer's lifetime value. 
D)  the customer's profit margin analysis. 
E)  all of the above

Question 20

Just as brand equity is a measure of the company's accumulated investment in building a brand identity, consumer equity is a measure of the company's accumulated investment in developing new market segments.

Accepted Answer

A) True 
 B)False

Which of the following statements best summarises the marketing philosophy?

Beyond standard performance measures such as ROI and sales, marketers are increasingly using customer- centred measures of marketing impact. Which of the following is NOT a customer- centred measure of marketing impact?

An evaluation comparison between a product's performance and the buyer's expectations is the basis for determining:

Basically, there is no cost difference between retaining current customers and acquiring new ones.

Totally satisfied customers are more likely to be:

To increase share of customer, companies can offer greater variety to current customers or they can create programmes to cross- sell and up- sell to market more products and services to existing customers.

Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as:

According to an example provided in the text, the ANZ Bank offered to pay customers $5 if they were required to wait more than five minutes for service. This tactic was not successful because:

The customer's conscious evaluation of a product or service feature, or of the product or service itself is known as customer satisfaction.

Select the term that best completes the following sentence. According to a recent study reported in the text found that _________of consumers say that they would rather get the best brand than the best price.

According to the text, employee satisfaction with a company is important because:

Club marketing programmes offer customer members special benefits and create member communities.

Return on marketing investment (ROMI) is very difficult to measure because:

Frequency marketing programmes offer customers a reward such as price discounts, free upgrades or the opportunity to trade points for gifts, as a means of building a relationship with the customer.

List and describe any two (2) methods for assessing customer satisfaction.

Total customer satisfaction is conceptualised as the relationship between:

Frequeny marketing programmes offer customers membership of a club which enables them to access special services and are designed to recognise the customer's worth to the business.

Customer satisfaction is an excellent predictor of customer loyalty.

The value of the entire stream of purchases that a customer generates during the time s/he does business with a company is called:

Just as brand equity is a measure of the company's accumulated investment in building a brand identity, consumer equity is a measure of the company's accumulated investment in developing new market segments.

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

Which of the following statements best summarises the marketing philosophy?

Beyond standard performance measures such as ROI and sales, marketers are increasingly using customer- centred measures of marketing impact. Which of the following is NOT a customer- centred measure of marketing impact?

An evaluation comparison between a product's performance and the buyer's expectations is the basis for determining:

Basically, there is no cost difference between retaining current customers and acquiring new ones.

Totally satisfied customers are more likely to be:

To increase share of customer, companies can offer greater variety to current customers or they can create programmes to cross- sell and up- sell to market more products and services to existing customers.

Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as:

According to an example provided in the text, the ANZ Bank offered to pay customers $5 if they were required to wait more than five minutes for service. This tactic was not successful because:

The customer's conscious evaluation of a product or service feature, or of the product or service itself is known as customer satisfaction.

Select the term that best completes the following sentence. According to a recent study reported in the text found that _________of consumers say that they would rather get the best brand than the best price.

According to the text, employee satisfaction with a company is important because:

Club marketing programmes offer customer members special benefits and create member communities.

Return on marketing investment (ROMI) is very difficult to measure because:

Frequency marketing programmes offer customers a reward such as price discounts, free upgrades or the opportunity to trade points for gifts, as a means of building a relationship with the customer.

List and describe any two (2) methods for assessing customer satisfaction.

Total customer satisfaction is conceptualised as the relationship between:

Frequeny marketing programmes offer customers membership of a club which enables them to access special services and are designed to recognise the customer's worth to the business.

Customer satisfaction is an excellent predictor of customer loyalty.

The value of the entire stream of purchases that a customer generates during the time s/he does business with a company is called:

Just as brand equity is a measure of the company's accumulated investment in building a brand identity, consumer equity is a measure of the company's accumulated investment in developing new market segments.

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