Question 1

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best
A)experience.
B)products/services.
C)price.
D)customer service.
E)availability.

Accepted Answer

Walmart, Southwest Airlines, and Costco are known for offering competitive pricing to their customers, which has contributed to their success. They have mastered the art of providing quality products and services at affordable prices, which is why customers keep coming back. While customer service, availability, and experience are all important factors, low pricing has been a key differentiator for these companies.

Question 2

The unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price is called
A)customer value.
B)target marketing.
C)benefit segmentation.
D)value-based marketing.
E)a customer value proposition.

Accepted Answer

The answer of The unique combination of benefits received by...

Question 3

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.
A)marketing strategy
B)marketing program
C)macromarketing tactic
D)micromarketing tactic
E)customer relationship management

Accepted Answer

Key term definition-marketing program.

Question 4

The linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit is referred to as
A)relationship marketing.
B)exclusive dealing.
C)loyalty marketing.
D)customer relationship management.
E)symbiotic marketing.

Accepted Answer

The answer of The linking of the organization to its...

Question 5

Publix Supermarkets and The Little Clinic signed an exclusive agreement,placing small walk-in health clinics inside selected stores.Publix customers can have simple medical needs addressed in a convenient and familiar environment seven days a week and pick up their prescriptions from the pharmacy without leaving the store.This is an example of
A)supplier management.
B)customer valuation.
C)societal marketing.
D)market aggregation.
E)relationship marketing.

Accepted Answer

This is an example of relationship marketing because Publix and The Little Clinic are working together to provide a convenient and valuable service to their customers. By placing the clinics inside Publix stores, they are enhancing the customer experience and building a stronger relationship between the companies and their customers.

Question 6

Marriott,Lands' End,and Home Depot deliver customer value by providing its customers with the best
A)assortment.
B)products/services.
C)price.
D)customer service.
E)availability.

Accepted Answer

The answer of Marriott,Lands' End,and Home Depot deliver customer value...

Question 7

Relationship marketing refers to
A)the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
B)the belief that it is easier and less expensive to find new customers than to retain old ones.
C)the linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.
D)the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E)exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.

Accepted Answer

Relationship marketing is all about building and maintaining long-term relationships and connections with customers, employees, suppliers, and other partners for mutual benefits. It focuses on creating a bond with customers that goes beyond simply selling them a product or service. This approach helps to create loyal customers who will continue to do business with the organization and even recommend it to others.

Question 8

Pending federal legislation will require all online retailers to collect state sales taxes from customers.This would affect online sellers such as Virtual Vineyards,which now only collects state sales taxes from customers who reside in California-its home state.This pending legislation would be an example of which environmental force?
A)social
B)economic
C)technological
D)competitive
E)regulatory

Accepted Answer

The pending federal legislation is a regulatory force as it is a proposed regulation that would mandate all online retailers to collect state sales taxes.

Question 9

Which of the following statements about customer value is most accurate?
A)Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc.),regardless of the price.
B)Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)Research suggests that firms can be most successful by being all things to all consumers.
D)It is impossible to place a dollar value on a loyal,satisfied customer.
E)To create value for targeted buyers,firms must build long-term relationships with them.

Accepted Answer

Building long-term relationships with targeted buyers is crucial for creating value for them. This allows firms to understand the unique needs and preferences of their customers and tailor their offerings accordingly to provide greater customer value. This ultimately leads to increased customer satisfaction, loyalty, and profitability for the firm. The other options (A, B, C, and D) are inaccurate or incomplete statements about customer value.

Question 10

A marketing program refers to
A)a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.
B)the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line.
C)the marketing manager's controllable factors-product,price,promotion,and place-that can be used to solve a marketing problem.
D)the specific ratio within a marketing budget that divides resources between advertising,promotions,and personal selling.
E)the allocation of resources within a firm towards individual marketing mix elements.

Accepted Answer

A marketing program is a plan that integrates the marketing mix (product, price, promotion, and place) to provide a good, service, or idea to prospective buyers. It includes the specific actions and tactics that will be employed to achieve marketing objectives.

Question 11

Starbucks,Nike,and Johnson & Johnson provide customer value by providing its customers with the best
A)branding.
B)products/services.
C)price.
D)customer service.
E)availability.

Accepted Answer

Providing the best products/services is the most accurate way to deliver customer value. While branding, price, customer service, and availability are important factors, they are ultimately less valuable if the product/service itself is not of high quality. Starbucks, Nike, and Johnson & Johnson all invest heavily in research and development to continually improve their offerings and meet the evolving needs and wants of their customers.

Question 12

-According to the Starbucks ad above,what customer value strategy does Starbucks Coffee Company provide to its customers?
A)best product/service
B)best customer service
C)best value
D)best assortment
E)best price

Accepted Answer

The answer of 
-According to the Starbucks ad above,what customer...

Question 13

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible
A)marketing strategy.
B)macromarketing agenda.
C)micromarketing agenda.
D)marketing program.
E)marketing concept.

Accepted Answer

The concepts developed from consumer ideas must be converted into a tangible marketing program, which includes specific tactics and actions for promoting and selling the product.

Question 14

In the nonprofit world of the performing arts,box office technology has essentially remained the same since the 1980s.A company called Tessitura is trying to change that.Tessitura is able to track every transaction with its patrons in one database.This information collected includes ticket purchases,fund-raising,volunteering,and gift shop purchases that will help symphonies,operas,and theaters develop customer profiles in order to tailor their sales messages to specific individuals.In other words,Tessitura will allow arts groups to engage in
A)market aggregation.
B)relationship marketing.
C)societal marketing.
D)market mining.
E)mainstream marketing.

Accepted Answer

Tessitura's ability to gather and organize data on individual patrons allows arts groups to engage in relationship marketing, where they tailor messages and offerings to meet the needs and interests of specific individuals. This is different from market aggregation, which involves targeting broader demographic groups, and societal marketing, which involves promoting social issues and causes. Market mining and mainstream marketing are not concepts relevant to Tessitura's capabilities.

Question 15

Customer value refers to
A)the need of a customer to receive the highest quality product at the lowest possible price.
B)the seeking of the least expensive product that will provide all of the most basic benefits within a product category.
C)a statement that,before product development begins,identifies (1)a well-defined target market; (2)specific customers' needs,wants,and preferences; and (3)what the product will be and do to satisfy consumers.
D)the unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price.
E)the cluster of benefits that an organization promises customers to satisfy their needs.

Accepted Answer

Customer value refers to the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. This definition encompasses more than just price and basic benefits, and it emphasizes the importance of meeting specific customer needs and preferences. Additionally, it highlights that customer value is a cluster of benefits promised by an organization to satisfy customer needs.

Question 16

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?
A)social
B)economic
C)technological
D)competitive
E)regulatory

Accepted Answer

The sponsorship of "women-only" networking events by consulting firms is an example of a social environmental force, as it reflects a growing trend towards promoting gender diversity and equality in the workplace.

Question 17

With today's smartphones,one can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.Improved new features are added with each smartphone introduced by Apple,Samsung,BlackBerry,and the like.As a result,consumers often want to replace their existing smartphones with new models or brands.This increase in demand is due mostly to changes in ___________,an environmental force.
A)competition
B)social culture
C)technology
D)regulations
E)the economy

Accepted Answer

The increase in demand for smartphones and the introduction of new models and brands is due to changes in technology. Smartphones are constantly improving and adding new features, which makes consumers want to upgrade or switch to a new model or brand that better suits their needs.

Question 18

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he has accumulated enough points,he can trade his points in for a free night's stay.As a member of this program,the traveler receives periodic updates on new hotels and learns of ways to earn additional points.The marketing term that best describes this scenario is
A)relationship marketing.
B)customer satisfaction promotion.
C)customer relationship management.
D)customer valuation.
E)supplier-consumer partnership.

Accepted Answer

Relationship marketing links the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.

Question 19

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with
A)the best airport experience.
B)the most convenient flight schedules.
C)the best price for the distance traveled.
D)the best in-flight service.
E)the greatest sense of personal safety.

Accepted Answer

The passage specifically mentions the great food, friendly flight attendants, and comfortable seating as examples of the in-flight service provided by Singapore Air. Therefore, the best choice is D, which refers to the best in-flight service.

Question 20

Which of the following statements about relationship marketing is most accurate?
A)Relationship marketing has a short-term focus: increasing profits for the firm.
B)Relationship marketing begins before and ends after the sale.
C)Relationship marketing occurs when there is a personal,ongoing relationship between an organization and its customers.
D)Very few companies today are engaged in relationship marketing.
E)The Internet has allowed marketers to establish more personal relationships with customers.

Accepted Answer

The answer of Which of the following statements about relationship...

Quiz 1: Creating Customer Relationships and Value Through Marketing

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best

The unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price is called

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

The linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit is referred to as

Marriott,Lands' End,and Home Depot deliver customer value by providing its customers with the best

Relationship marketing refers to

Which of the following statements about customer value is most accurate?

A marketing program refers to

Starbucks,Nike,and Johnson & Johnson provide customer value by providing its customers with the best

-According to the Starbucks ad above,what customer value strategy does Starbucks Coffee Company provide to its customers?

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible

Customer value refers to

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Which of the following statements about relationship marketing is most accurate?