Question 1

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.According to this classification,a highly profitable,short-term customer is known as a ________.

Accepted Answer

A) true friend 
B) butterfly 
C) stranger 
D) barnacle 
E) true believer

Question 2

The Niketown running club that organizes twice weekly evening runs for Nike customers is an example of a ________.

Accepted Answer

A) frequency marketing program 
B) customer-driven marketing event 
C) club marketing program 
D) consumer-generated marketing program 
E) sustainable marketing event

Question 3

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

Accepted Answer

A) consumer-generated 
B) sustainable 
C) customer club 
D) differential 
E) mass

Question 4

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

Accepted Answer

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

Question 5

The first step in the marketing process is ________.

Accepted Answer

A) capturing value from customers to create profits and customer equity 
B) constructing an integrated marketing program that delivers superior value 
C) building profitable relationships and creating customer delight 
D) understanding the marketplace and customer needs and wants 
E) designing a customer-driven marketing strategy

Question 6

Explain how the Internet has transformed the way in which we do business today.

Accepted Answer

The answer of Explain how the Internet has transformed the...

Question 7

________ describes a longer channel,stretching from raw materials to components to final products that are carried to final buyers.

Accepted Answer

A) The supply chain 
B) Direct marketing 
C) Partnership relationship marketing 
D) DSS 
E) CRM

Question 8

Companies can build customer relationships at many levels,depending on the nature of the target market.Explain the different types of relationships with examples.

Accepted Answer

The answer of Companies can build customer relationships at many...

Question 9

The production concept and product concept are orientations that can lead to marketing myopia.

Accepted Answer

A) True 
 B)False

Question 10

Market offerings can include products,services,information,or experiences offered to a market to satisfy a need or want.

Accepted Answer

A) True 
 B)False

Question 11

You are an assistant marketing director for a firm in a market with many low-margin customers.Which of the following types of relationships would be most profitable for you to develop with these customers?

Accepted Answer

A) full partnerships 
B) basic relationships 
C) categorical partnerships 
D) selective relationships 
E) community relationships

Question 12

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

Accepted Answer

A) Share of customer 
B) Customer payoff 
C) Customer equity 
D) Customer cardinality 
E) Customer perceived value

Question 13

Explain market offerings and marketing myopia.

Accepted Answer

The answer of Explain market offerings and marketing myopia....

Question 14

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 15

Sally purchased the newly launched "Jolie" lotion.By attempting to find out if the lotion's perceived performance matches her expectations,Sally was measuring her level of customer ________.

Accepted Answer

A) perceived value 
B) satisfaction 
C) equity 
D) engagement 
E) lifetime value

Question 16

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

Accepted Answer

A) high customer equity 
B) high current market share 
C) steady sales volume 
D) high customer payoff 
E) profit maximization

Question 17

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

Accepted Answer

The answer of Briefly explain the societal marketing concept.Give an...

Question 18

Compare and contrast the product and production concepts.

Accepted Answer

The answer of Compare and contrast the product and production...

Question 19

When backed by buying power,needs become wants.

Accepted Answer

A) True 
 B)False

Question 20

Greater consumer control means that companies must rely more on marketing by ________ rather than marketing by ________.

Accepted Answer

A) interruption; involvement 
B) attraction; intrusion 
C) socialization; information 
D) producing; selling 
E) inspiration; competition

Exam 1: Marketing Creating and Capturing Customer Value

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.According to this classification,a highly profitable,short-term customer is known as a ________.

The Niketown running club that organizes twice weekly evening runs for Nike customers is an example of a ________.

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

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

The first step in the marketing process is ________.

Explain how the Internet has transformed the way in which we do business today.

________ describes a longer channel,stretching from raw materials to components to final products that are carried to final buyers.

Companies can build customer relationships at many levels,depending on the nature of the target market.Explain the different types of relationships with examples.

The production concept and product concept are orientations that can lead to marketing myopia.

Market offerings can include products,services,information,or experiences offered to a market to satisfy a need or want.

You are an assistant marketing director for a firm in a market with many low-margin customers.Which of the following types of relationships would be most profitable for you to develop with these customers?

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

Explain market offerings and marketing myopia.

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

Sally purchased the newly launched "Jolie" lotion.By attempting to find out if the lotion's perceived performance matches her expectations,Sally was measuring her level of customer ________.

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

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

Compare and contrast the product and production concepts.

When backed by buying power,needs become wants.

Greater consumer control means that companies must rely more on marketing by rather than marketing by .