Question 1

The Niketown running community organizes bimonthly athletic training programs for Nike buyers.This is an example of a ________.

Accepted Answer

A)  business partnership program 
B)  joint venture 
C)  club marketing program 
D)  consumer-generated marketing program 
E)  strategic alliance

Question 2

Voize,a leading mobile phone manufacturer,focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices.Voize most likely follows the ________.

Accepted Answer

A)  customer-driving marketing concept 
B)  marketing concept 
C)  societal marketing concept 
D)  production concept 
E)  selling concept

Question 3

Abel now has the buying power to purchase the computer that he wanted to buy six months ago.Abel's want has most likely become a(n)________.

Accepted Answer

A)  need 
B)  value 
C)  demand 
D)  offering 
E)  desire

Question 4

Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

Accepted Answer

A) True 
 B)False

Question 5

Customer-driving companies create products and services that serve only the existing needs of consumers.

Accepted Answer

A) True 
 B)False

Question 6

Define customer equity,and explain why it is important to a company.

Accepted Answer

The answer of Define customer equity,and explain why it is...

Question 7

Which of the following is true of mobile marketing?

Accepted Answer

A)  Few American adults today own a smartphone. 
B)  A smartphone is a highly impersonal medium with a low scope for engagement. 
C)  Marketers use mobile channels to stimulate immediate buying. 
D)  Mobile marketing is a traditional marketing method. 
E)  Mobile marketing is the slowest-growing digital marketing platform.

Question 8

Using suitable examples,briefly compare and contrast the concepts of needs,wants,and demands.Discuss how these concepts relate to marketing practices.

Accepted Answer

The answer of Using suitable examples,briefly compare and contrast the...

Question 9

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

Accepted Answer

A)  marketing 
B)  product 
C)  production 
D)  selling 
E)  societal marketing

Question 10

Why do companies generally divide a market into segments of customers?

Accepted Answer

The answer of Why do companies generally divide a market...

Question 11

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 12

The aim of customer relationship management is to create not just customer satisfaction,but customer delight as well.Explain.

Accepted Answer

The answer of The aim of customer relationship management is...

Question 13

Define customer-perceived value.

Accepted Answer

The answer of Define customer-perceived value....

Question 14

Raymond purchased a Honda Civic six months ago because he perceived Honda's superiority over the competition.Raymond has been more than satisfied with his purchase and now has an emotional relationship with the Honda brand.Raymond's relationship with Honda is best referred to as ________.

Accepted Answer

A)  customer delight 
B)  customer lifetime value 
C)  customer equity 
D)  customer share 
E)  customer-perceived value

Question 15

________ is the total combined customer lifetime values of all the company's current and potential customers.

Accepted Answer

A)  Share of customer 
B)  Value proposition 
C)  Customer equity 
D)  Market share 
E)  Customer-perceived value

Question 16

The final step in the marketing process is ________.

Accepted Answer

A)  capturing value from customers 
B)  constructing an integrated marketing program 
C)  building profitable relationships with the customers 
D)  understanding the marketplace 
E)  designing a customer-driven marketing strategy

Question 17

Dividing a market into several sections of customers is known as ________.

Accepted Answer

A)  mass customization 
B)  market positioning 
C)  market segmentation 
D)  value engineering 
E)  undifferentiated marketing

Question 18

The more loyal a firm's profitable customers,the lower its customer equity.

Accepted Answer

A) True 
 B)False

Question 19

Explain,with examples,the different types of relationships that a company can build with its customers.

Accepted Answer

The answer of Explain,with examples,the different types of relationships that...

Question 20

The societal marketing concept holds that ________.

Accepted Answer

A)  consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort 
B)  a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment 
C)  the society will only favor products that are available and highly affordable 
D)  achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do 
E)  consumers will favor products that offer the most in quality, performance, and innovative features

Exam 1: Marketing: Creating and Capturing Customer Value

The Niketown running community organizes bimonthly athletic training programs for Nike buyers.This is an example of a ________.

Voize,a leading mobile phone manufacturer,focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices.Voize most likely follows the ________.

Abel now has the buying power to purchase the computer that he wanted to buy six months ago.Abel's want has most likely become a(n) ________.

Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

Customer-driving companies create products and services that serve only the existing needs of consumers.

Define customer equity,and explain why it is important to a company.

Which of the following is true of mobile marketing?

Using suitable examples,briefly compare and contrast the concepts of needs,wants,and demands.Discuss how these concepts relate to marketing practices.

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

Why do companies generally divide a market into segments of customers?

Marketing is managing profitable customer relationships.

The aim of customer relationship management is to create not just customer satisfaction,but customer delight as well.Explain.

Define customer-perceived value.

Raymond purchased a Honda Civic six months ago because he perceived Honda's superiority over the competition.Raymond has been more than satisfied with his purchase and now has an emotional relationship with the Honda brand.Raymond's relationship with Honda is best referred to as ________.

________ is the total combined customer lifetime values of all the company's current and potential customers.

The final step in the marketing process is ________.

Dividing a market into several sections of customers is known as ________.

The more loyal a firm's profitable customers,the lower its customer equity.

Explain,with examples,the different types of relationships that a company can build with its customers.

The societal marketing concept holds that ________.