Question 1

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

Accepted Answer

A)   societal marketing
B)   the production concept
C)   the selling concept
D)   partner relationship management
E)   consumer-generated marketing

Question 2

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Accepted Answer

A)   Customer-driven
B)   Customer-driving
C)   Affinity
D)   Societal
E)   Ambush

Question 3

In which of the following situations has a company most actively embraced customer-managed relationships?

Accepted Answer

A)   American Airlines awards frequent flyer points to returning customers.
B)   Paige Premium Denim jeans provide superior quality and perfect fit.
C)   iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner.
D)   Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group.
E)   Toyota develops a marketing presence on social networks and other online communities.

Question 4

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A)   marketing management
B)   positioning
C)   marketing mix
D)   market offering
E)   differentiation

Question 6

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

Accepted Answer

A)   environmentalism
B)   social responsibility
C)   the selling concept
D)   partner relationship management
E)   marketing myopia

Question 7

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

Accepted Answer

A) True 
 B)False

Question 8

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Accepted Answer

Customer satisfaction cannot be taken fo...

Question 9

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Accepted Answer

A)   promotion mix
B)   product mix
C)   marketing mix
D)   market offering
E)   marketing effort

Question 10

Human needs are shaped by culture and individual personality.

Accepted Answer

A) True 
 B)False

Question 11

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Accepted Answer

A)   customer lock-in
B)   a cartel
C)   marketing mix
D)   value proposition
E)   market segmentation

Question 13

The marketing concept takes a(n)  ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Accepted Answer

A)   outside-in perspective
B)   product-centered make-and-sell philosophy
C)   inside-out perspective
D)   consumer-generated marketing approach
E)   telling-and-selling approach

Question 14

________ is one of the best ways to increase share of customer.

Accepted Answer

A)   Targeting new customers
B)   Using bait and switch
C)   Cross-selling
D)   Divesting
E)   Partnership marketing

Question 15

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a characteristic of customer-driven marketing?

Accepted Answer

A)   Companies understand customer needs even better than customers themselves do.
B)   Customers are unaware of their needs.
C)   Products are created that meet both existing and latent needs, now and in the future.
D)   Customers know what they want.
E)   Customers don't know what is possible.

Question 17

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

Accepted Answer

A) True 
 B)False

Question 18

As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________.

Accepted Answer

A)   taking a local view of their industry
B)   purchasing more supplies abroad
C)   reducing competition within their industry
D)   downplaying concerns for social responsibility
E)   competing solely in traditional marketplaces

Question 19

Market offerings are limited to physical products.

Accepted Answer

A) True 
 B)False

Question 20

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

Accepted Answer

"Butterflies" are profitable but not loy...

Exam 1: Marketing: Creating Customer Value and Engagement

Marketing is managing profitable customer relationships.

Correct AnswerverifiedShow Answer

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

Correct AnswerverifiedShow Answer

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

Correct AnswerverifiedShow Answer

As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________.

Correct AnswerverifiedShow Answer

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

Correct AnswerverifiedShow Answer

________ is one of the best ways to increase share of customer.

Correct AnswerverifiedShow Answer

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

Correct Answerverified"Butterflies" are profitable but not loy...View AnswerShow Answer

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Correct AnswerverifiedShow Answer

Market offerings are limited to physical products.

Correct AnswerverifiedShow Answer

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Correct AnswerverifiedShow Answer

Human needs are shaped by culture and individual personality.

Correct AnswerverifiedShow Answer

In which of the following situations has a company most actively embraced customer-managed relationships?

Correct AnswerverifiedShow Answer

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

Correct AnswerverifiedShow Answer

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Correct AnswerverifiedShow Answer

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

Correct AnswerverifiedShow Answer

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of customer-driven marketing?

Correct AnswerverifiedShow Answer

Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight.

Correct AnswerverifiedCustomer satisfaction cannot be taken fo...View AnswerShow Answer

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"Butterflies" are profitable but not loy...
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Customer satisfaction cannot be taken fo...
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