Question 1

A recent study indicated that ______ percent of executives believed that improving customer experience was critical to the future growth of their companies.
A)80
B)90
C)60
D)70

Accepted Answer

The answer of A recent study indicated that ______ percent...

Question 2

The individuals who use the goods and services purchased for a household are collectively referred to as:
A)nonprofessional buyers.
B)household buyers.
C)ultimate consumers.
D)family buyers.

Accepted Answer

The term "ultimate consumers" refers to the end-users of a product or service, and in the context of the question, specifically those who use the goods and services purchased for a household. Option A may be applicable in a business-to-business setting, while options B and D are not as inclusive as option C.

Question 3

Telus uses a web-centric, personalized approach to managing long-term customer relationships electronically. The tool they likely use is known as
A)CLV.
B)eCRM.
C)CR-V.
D)CRM.

Accepted Answer

The personalized approach to managing long-term customer relationships electronically indicates the use of eCRM (electronic Customer Relationship Management) tool. Therefore, option B, eCRM, is the best choice. Options A, C, and D are not relevant to the mentioned approach.

Question 4

Which of the following is the best example of an organizational buyer?
A)a computer programmer buying the latest game for his Playstation
B)a mother buying milk for her young son
C)a botanist buying a rose bush for his home garden
D)a store owner buying hand-painted slate signs to sell in her store

Accepted Answer

An organizational buyer refers to a business or organization purchasing goods or services for their own use or to resell. A store owner buying hand-painted slate signs to sell in her store is the best example of an organizational buyer as she is buying products for her business to resell.

Question 5

GE, JC Penny, Saks Fifth Avenue, and the Canadian Federal Government are collectively referred to as:
A)intermediate buyers.
B)professional buyers' organizations.
C)purchasing agents.
D)organizational buyers.

Accepted Answer

These companies and government entity are all large organizations that engage in purchasing goods and services for their respective operations, making them organizational buyers.

Question 6

Ethics are:
A)the critical-mass point in the collective attitude within many organizations.
B)moral principles and values.
C)tools for improving ROI.
D)guidelines on understanding how potential customers buy.

Accepted Answer

Ethics refer to moral principles and values that guide individuals and organizations on what is right and wrong. They are not related to improving ROI or understanding customer behavior. While they can influence the collective attitude within an organization, they are not necessarily the critical-mass point.

Question 7

Which of the following companies is most likely to utilize interactive marketing?
A)Dove Beauty Products
B)TD Financial Bank
C)The Conservative Party of Canada
D)Manulife Insurance

Accepted Answer

Dove Beauty Products is a consumer company that targets a younger demographic, which is more likely to engage in interactive marketing through platforms such as social media. Manulife Insurance and TD Financial Bank are customers that are not likely to engage in interactive marketing considering the nature of their services. The Conservative Party of Canada is more likely to utilize traditional marketing methods such as mailing and phone campaigns than interactive marketing.

Question 8

When the local municipality announces a water shortage due to the lack of rain in recent weeks, you choose to turn off your automatic sprinkler system. This is an example of:
A)ethics
B)CRM
C)social responsibility
D)macromarketing

Accepted Answer

Turning off the automatic sprinkler system during a water shortage is an example of social responsibility as it is a voluntary action taken to conserve water resources for the benefit of the community and the environment. It shows that the individual is aware of their impact on the society and is taking responsibility for their actions.

Question 9

What kinds of organizations engage in marketing?
A)only those that can afford national advertising
B)every organization markets
C)very large and established nonprofit organizations
D)exclusively Fortune 1000 companies

Accepted Answer

Every organization, regardless of size or industry, engages in some form of marketing in order to promote their goods or services to potential customers. This includes small businesses, nonprofit organizations, and even government agencies.

Question 10

An ultimate consumer is considered someone who:
A)who returns the goods purchased to a local goodwill thrift store
B)who resells the goods purchased to new consumers
C)uses the goods or services purchased for an organization
D)uses the goods or services purchased for the household

Accepted Answer

An ultimate consumer is someone who uses the goods or services purchased for the household, which is described in option D. Option A is incorrect because returning goods to a thrift store does not necessarily make someone an ultimate consumer. Option B is incorrect because reselling goods would make someone a intermediary consumer or retailer. Option C is incorrect because using goods or services for an organization would make someone a business or organizational consumer.

Question 11

Google uses environmentally friendly Prius vehicles to do their driving around cities to collect data for Google Maps Streetview. This is an illustration of the issue of:
A)macromarketing
B)ethics
C)social responsibility
D)CRM

Accepted Answer

This is an example of social responsibility as Google is using environmentally friendly vehicles for their operations.

Question 12

Flushing unused medication down the toilet is an illustration of the issue of:
A)CRM
B)social responsibility
C)macromarketing
D)ethics

Accepted Answer

Flushing unused medication down the toilet can harm aquatic life and contaminate water sources. It is a social responsibility issue as individuals and organizations have a responsibility to dispose of medication properly to protect the environment and public health.

Question 13

Swiffer would describe the user of their Swiffer Wet-Jet mop as:
A)ultimate consumers
B)purchasing agents
C)situational buyers
D)primary buyers

Accepted Answer

The ultimate consumers are the end-users of a product, and in this case, the Swiffer Wet-Jet mop is meant to be used by individuals to clean their floors. The other options, such as purchasing agents, situational buyers, and primary buyers, do not accurately describe the typical user of this product.

Question 14

Organizational buyers are most accurately described as:
A)manufacturers, retailers, or government agencies buying for their own use or resale.
B)any individual or group making a purchase worth over $100,000.
C)buyers of high cost items.
D)buyers of household items.

Accepted Answer

Organizational buyers are those that purchase goods and services for their own use or for resale by organizations such as manufacturers, retailers, or government agencies. It is not determined by the value of the purchase or the type of items being bought.

Question 15

The view that an organization should discover and satisfy the needs of its consumers in a way that also provides for society's well-being is known as
A)Customer relationship management
B)Macromarketing
C)Ethics
D)The societal marketing concept

Accepted Answer

The societal marketing concept emphasizes that an organization should not only focus on satisfying the needs of its consumers, but also contribute to society's well-being. This concept takes into consideration the long-term impact of marketing decisions on society and the environment.

Question 16

Ethics serve as:
A)guidelines on understanding how potential customers buy.
B)guidelines on how to act correctly and justly.
C)tools for improving ROI.
D)guidelines on how to allocate resources.

Accepted Answer

Ethics serve as guidelines on how to act correctly and justly, specifically in regards to decision-making and behavior in business and personal contexts. Ethics help individuals and companies make decisions that are morally right, fair, and respectful to all stakeholders involved.

Question 17

Changing the oil in your old vehicle and dumping the oil down a sewer is an illustration of the issue of:
A)ethics
B)social responsibility
C)CRM
D)micromarketing

Accepted Answer

The answer of Changing the oil in your old vehicle...

Question 18

What element of the marketing mix for the City of Hamilton is described by the lower cost of residential and commercial real estate?
A)price
B)product
C)place
D)promotion

Accepted Answer

The lower cost of residential and commercial real estate is describing the "price" element of the marketing mix, as it pertains to the cost of the product/service being offered.

Question 19

Which of the following is an example of an ultimate consumer?
A)a retailer who buys poster board to make signs for an upcoming store sale
B)a school teacher who bought a ticket to the 2002 Winter Olympics opening ceremonies in Salt Lake City
C)an office receptionist who renews the magazines that are found in the office waiting room
D)a newspaper reporter who buys a plane ticket to Washington, D.C., to cover the presidential inauguration

Accepted Answer

An ultimate consumer is an individual who purchases a product or service for their own personal use, rather than for resale or use in producing other products. Of the options given, only the school teacher who bought a ticket to the Winter Olympics opening ceremonies fits this definition. The retailer, office receptionist, and newspaper reporter are all purchasing products or services for business-related purposes.

Question 20

To be effective, customer relationship management requires all of the following except:
A)application of information technology.
B)the involvement of managers.
C)the involvement of consumers.
D)the commitment of managers.

Accepted Answer

Customer relationship management is a strategy to build long-term productive relationships with customers, it involves the use of technology, the commitment of managers, and the involvement of managers. However, the involvement of consumers is not required for the effectiveness of customer relationship management, it is important to have their feedback and opinions, but the primary focus is on building and maintaining relationships with them.

Quiz 1: Creating Customer Value, Relationships, and Experiences Through Marketing

A recent study indicated that ______ percent of executives believed that improving customer experience was critical to the future growth of their companies.

The individuals who use the goods and services purchased for a household are collectively referred to as:

Telus uses a web-centric, personalized approach to managing long-term customer relationships electronically. The tool they likely use is known as

Which of the following is the best example of an organizational buyer?

GE, JC Penny, Saks Fifth Avenue, and the Canadian Federal Government are collectively referred to as:

Ethics are:

Which of the following companies is most likely to utilize interactive marketing?

When the local municipality announces a water shortage due to the lack of rain in recent weeks, you choose to turn off your automatic sprinkler system. This is an example of:

What kinds of organizations engage in marketing?

An ultimate consumer is considered someone who:

Google uses environmentally friendly Prius vehicles to do their driving around cities to collect data for Google Maps Streetview. This is an illustration of the issue of:

Flushing unused medication down the toilet is an illustration of the issue of:

Swiffer would describe the user of their Swiffer Wet-Jet mop as:

Organizational buyers are most accurately described as:

The view that an organization should discover and satisfy the needs of its consumers in a way that also provides for society's well-being is known as

Ethics serve as:

Changing the oil in your old vehicle and dumping the oil down a sewer is an illustration of the issue of:

What element of the marketing mix for the City of Hamilton is described by the lower cost of residential and commercial real estate?

Which of the following is an example of an ultimate consumer?

To be effective, customer relationship management requires all of the following except: