Question 1

The ________ concept holds that achieving organisational goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors.

Accepted Answer

The answer of The ________ concept holds that achieving organisational...

Question 2

Amy's law office has developed a new format and wording for wills.Staff believe that they offer superior quality,performance and innovative features.Her law office is practicing the production concept.

Accepted Answer

A) True 
 B)False

Question 3

Explain why a supermarket owner might consider customer lifetime value when a disgruntled customer leaves the store dissatisfied.

Accepted Answer

The answer of Explain why a supermarket owner might consider...

Question 4

Which customer question is answered by a company's value proposition?

Accepted Answer

A) 'Why should I buy your brand rather than a competitor's?' 
B) 'How does your brand benefit me and society?' 
C) 'What are the costs and benefits of your brand?' 
D) 'What kind of experience will I have with products and services associated with this brand?' 
E) 'What are the benefits of being a loyal consumer of your brand?'

Question 5

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.

Accepted Answer

A) full demand 
B) unwholesome demand 
C) latent demand 
D) overfull demand 
E) irregular demand

Question 6

Human ________ are states of felt deprivation.

Accepted Answer

The answer of Human ________ are states of felt deprivation....

Question 7

There are occasions when a firm should legitimately practice demarketing in order to manage its demand levels.

Accepted Answer

A) True 
 B)False

Question 8

Modern thinking is that marketing is done only by marketing,sales and customer-support personnel.

Accepted Answer

A) True 
 B)False

Question 9

The social responsibility and environmental movements are expected to ________ in the future.

Accepted Answer

A) demand more from companies 
B) demand less from companies 
C) move away from sustainable marketing 
D) move toward partner relationship management 
E) None of the above.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

The elements of the extended marketing mix are product,price,placement logistics and promotion plus people,process and physical evidence.

Accepted Answer

A) True 
 B)False

Question 12

It is most accurate to say that a customer will buy from the company that offers the highest ________.

Accepted Answer

A) value for the dollar 
B) customer-perceived value 
C) level of customer satisfaction 
D) company image 
E) concern for society's interests

Question 13

Briefly outline the advantages of customer satisfaction.

Accepted Answer

The answer of Briefly outline the advantages of customer satisfaction....

Question 14

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell.By promoting a company culture that values exceptional value and service,Shania aims to create ________ by going beyond the expected.

Accepted Answer

A) customer delight 
B) customer satisfaction 
C) customer equity 
D) customer value 
E) customer loyalty

Question 15

It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

Accepted Answer

A) True 
 B)False

Question 16

What are the major factors that a company should consider when deciding which international markets to enter?

Accepted Answer

The answer of What are the major factors that a...

Question 17

A firm has high customer equity when it has a high proportion of loyal,profitable customers.

Accepted Answer

A) True 
 B)False

Question 18

The art and science of choosing target markets and building profitable relationships with them is called ________.

Accepted Answer

A) marketing management 
B) market positioning 
C) market segmentation 
D) selling 
E) societal marketing

Question 19

Scouts Australia is a not for profit organisation that offers young Australians,aged 6 to 25 years,fun and challenging opportunities to grow and develop through adventure and activities.While Scouts is the largest youth movement in the nation with some 68,000 members,Scouts has little difficulty attracting new members.However,for some time Scouts has been aware that it experiences difficulties retaining members for more than a few years.Member churn is especially noticeable in the older age groups to the point where it is difficult to encourage members to take up leadership positions within the organisation.Using principles of customer relationship management outlined in Chapter 1 combined with your creativity and general knowledge,suggest specific strategies that Scouts could use to improve its current member retention rates.

Accepted Answer

The answer of Scouts Australia is a not for profit...

Question 20

The Internet is forcing companies toward more standardized international pricing.

Accepted Answer

A) True 
 B)False

Exam 1: Marketing: Creating and Capturing Customer Value

The ________ concept holds that achieving organisational goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors.

Amy's law office has developed a new format and wording for wills.Staff believe that they offer superior quality,performance and innovative features.Her law office is practicing the production concept.

Explain why a supermarket owner might consider customer lifetime value when a disgruntled customer leaves the store dissatisfied.

Which customer question is answered by a company's value proposition?

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.

Human ________ are states of felt deprivation.

There are occasions when a firm should legitimately practice demarketing in order to manage its demand levels.

Modern thinking is that marketing is done only by marketing,sales and customer-support personnel.

The social responsibility and environmental movements are expected to ________ in the future.

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

The elements of the extended marketing mix are product,price,placement logistics and promotion plus people,process and physical evidence.

It is most accurate to say that a customer will buy from the company that offers the highest ________.

Briefly outline the advantages of customer satisfaction.

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell.By promoting a company culture that values exceptional value and service,Shania aims to create ________ by going beyond the expected.

It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

What are the major factors that a company should consider when deciding which international markets to enter?

A firm has high customer equity when it has a high proportion of loyal,profitable customers.

The art and science of choosing target markets and building profitable relationships with them is called ________.

The Internet is forcing companies toward more standardized international pricing.