Question 1

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 2

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

Accepted Answer

A company decides whom it will serve by ...

Question 3

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 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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 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

Human needs are states of felt deprivati...

Question 9

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

Accepted Answer

Customer satisfaction cannot be taken fo...

Question 10

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 11

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

Question 12

Define customer-perceived value.

Accepted Answer

Customer-perceived value is defined as t...

Question 13

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

Accepted Answer

Customer equity is the sum of the lifeti...

Question 14

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

Accepted Answer

At one extreme,a company with many low-m...

Question 15

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 16

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 17

Marketing is managing profitable customer relationships.

Accepted Answer

A) True 
 B)False

Question 18

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 19

________ 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 20

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

Exam 1: Marketing: Creating and Capturing Customer Value

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

Correct AnswerverifiedCustomer equity is the sum of the lifeti...View AnswerShow Answer

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

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

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

Correct AnswerverifiedAt one extreme,a company with many low-m...View AnswerShow Answer

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.

Correct AnswerverifiedShow Answer

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 ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedHuman needs are states of felt deprivati...View AnswerShow Answer

Define customer-perceived value.

Correct AnswerverifiedCustomer-perceived value is defined as t...View AnswerShow Answer

Which of the following is true of mobile marketing?

Correct AnswerverifiedShow Answer

The societal marketing concept holds that ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Marketing is managing profitable customer relationships.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA company decides whom it will serve by ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The final step in the marketing process is ________.

Correct AnswerverifiedShow Answer

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 ________.

Correct AnswerverifiedShow Answer

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) ________.

Correct AnswerverifiedShow Answer

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Customer equity is the sum of the lifeti...
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Customer satisfaction cannot be taken fo...
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Correct Answer
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At one extreme,a company with many low-m...
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Human needs are states of felt deprivati...
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Customer-perceived value is defined as t...
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A company decides whom it will serve by ...
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