Question 1

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 program
D)micromarketing program
E)sales promotion

Accepted Answer

A marketing program is a comprehensive plan that integrates the marketing mix elements to deliver a product or service to potential customers.

Question 2

Relationship marketing refers to
A)the selection of personnel and the assignment of specific job responsibilities for a given product or product line.
B)the belief that it is easier and less expensive to find new customers than to retain old ones, customer loyalty helps promote the product at virtually no cost at all.
C)the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
D)exclusive legally binding contracts between a manufacturer and its distributors to guarantee the lowest possible price.
E)exclusive legally binding contract agreements between retailers and customers in order to create enhanced value for each.

Accepted Answer

Relationship marketing focuses on building long-term, mutually beneficial relationships between an organization and its customers, employees, suppliers, and other partners. The goal is to create loyalty and trust that will result in repeat business, referrals, and other positive outcomes for both the organization and its stakeholders. Choice A refers to human resource management, while choices B, D, and E do not accurately describe relationship marketing.

Question 3

FIGURE 1-3 
-In Figure 1-3 above, what customer value strategy does Southwest Airlines provide to its customers?
A)Best price
B)Best product
C)Best service
D)Best features
E)Best utility

Accepted Answer

Southwest Airlines is known for offering low-cost flights, which aligns with the "Best price" strategy.

Question 4

Which of the following acts as a barrier to the development of relationship marketing?
A)Changes in the demographic nature of an increasingly mobile society
B)The ever increasing usage of the Internet for consumer purchases
C)The onset of new buying behaviors through cultural diversity
D)A large aging population with the median age of fifty
E)The current fear of identity theft

Accepted Answer

The answer of Which of the following acts as a...

Question 5

3M selected the packaging options for the Post-it^® Flag highlighter by A)asking people on the street what type of packaging they prefer. B)offering alternate product choices on its Web site. C)conferring with inventors from other divisions of 3M. D)listening to students' comments, questions, and concerns. E)using information provided by a professional consulting firm.

Accepted Answer

3M selected the packaging options for the Post-it® Flag highlighter by listening to students' comments, questions, and concerns, which helped them understand the preferences and needs of their target audience.

Question 6

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)marketing program.
C)macromarketing program.
D)micromarketing program.
E)marketing concept.

Accepted Answer

After translating ideas from consumers into concepts for products, the next step is to convert them into a marketing program, which includes the specific marketing tactics and actions to bring the product to market. A marketing strategy is the overall approach and direction for achieving marketing objectives, while macromarketing and micromarketing refer to the broader societal and individual aspects of marketing, respectively. The marketing concept is a philosophy that puts the customer's needs and wants at the center of all business decisions.

Question 7

Marketing program refers to
A)a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
B)the process of selecting specific product benefits and attributes to be added or subtracted to a given product in order 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 allocation of resources within a firm towards individual marketing programs.
E)the selection of personnel and the assignment of specific job responsibilities for a given product or product line.

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 is a comprehensive strategy to reach and influence target customers in a cost-effective way.

Question 8

FIGURE 1-4 
-In Figure 1-4 above, the value suggested by 3M's pricing strategy comes from
A)providing at least two new benefits that competitors' products do not have.
B)setting prices that reflect the true benefits offered by the particular product for a given market segment.
C)setting an initially high price with the intent of bringing down the price later if sales are not as anticipated.
D)making the product easier to purchase by placing the pens in discount office supply retailers.
E)perceived value associated with 3M's brand name from previous products.

Accepted Answer

The value suggested by 3M's pricing strategy comes from setting prices that reflect the true benefits offered by the particular product for a given market segment. This approach ensures that customers will be willing to pay a price that accurately reflects the perceived value of the product.

Question 9

If you ever talk to anyone who has flown on Singapore Air, you will no doubt hear about the great food that was served during the flight, the friendliness of the air stewards, and the comfortable surroundings.From this description, you can surmise that 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 description mentions the great food, friendliness of the air stewards, and comfortable surroundings, which all pertain to the in-flight service provided by Singapore Air. Therefore, the best choice is D, the best in-flight service.

Question 10

Which of the following statements about relationship marketing is most accurate?
A)Relationship marketing has a short-term focus on increasing profits.
B)Relationship marketing is easy to implement so there is no reason for firms not to make this a goal.
C)Relationship marketing is more effective when there is a personal, ongoing relationship between individuals in the selling and buying organizations.
D)Very few companies today are engaged in relationship marketing.
E)The Internet is an ideal forum for relationship marketing since you are going directly into your customer's home or office.

Accepted Answer

Relationship marketing is all about building strong, long-term relationships with customers, and this is best achieved through personal, ongoing relationships between individuals in the selling and buying organizations. This helps to create a sense of trust and loyalty between the two parties, which can lead to increased sales and long-term success for both. Options A, B, and D are incorrect because relationship marketing is a long-term approach, not a short-term one, and it can be difficult to implement successfully. Option E is partially true, but while the internet can be a great tool for relationship marketing, it is not necessarily the ideal forum for every company.

Question 11

Which of the following acts as a barrier to the development of relationship marketing?
A)The changing regulatory environment
B)The large number of competitive products on the market
C)The increasing number of retail stores that are closing due to the economy
D)The large number of one-to-one relationships customers are asked to sustain
E)The diluted cultural diversity

Accepted Answer

Customers may feel overwhelmed or intimidated by the number of one-to-one relationships they are asked to sustain with different companies, which can act as a barrier to the development of relationship marketing. This makes it important for companies to prioritize and build strong relationships with their customers to stand out among the competition. The other options (A, B, C, and E) are not directly related to relationship marketing or do not act as a significant barrier to its development.

Question 12

Marriott, Lands' End, and Home Depot deliver customer value by providing its customers with the __________ in the market.
A)best product selection
B)best value
C)best price
D)best experience
E)best service

Accepted Answer

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

Question 13

Publix Supermarkets and The Little Clinic signed an exclusive agreement in 2006, placing small walk-in health clinics inside selected stores.Now Publix customers can have simple medical needs addressed in a convenient and familiar environment, seven days a week, and pick up their prescription from the pharmacy without even leaving the store.This is a prime example of
A)a consumer demand response.
B)customer valuation.
C)relationship marketing.
D)societal marketing.
E)mutually beneficial marketing management.

Accepted Answer

This is an example of relationship marketing because it focuses on creating a convenient and integrated experience for customers, enhancing their loyalty and satisfaction by addressing their medical needs and providing pharmacy services in one location.

Question 14

The purpose of the introduction of a 3M inventor's Post-it^® Flag highlighter was to A)stay ahead of trends and focus its marketing program on only one segment. B)stay ahead of trends and focus its marketing program on three mutually exclusive segments. C)increase segmentation to correspond to the number of new product variations. D)capitalize on previous successes and extend the 3M product line. E)preempt competitive moves by store brands such as Staples and Office Max.

Accepted Answer

The introduction of a new variation of the Post-it flag highlighter was likely done to capitalize on the success of the existing Post-it product line and extend the range of products offered by 3M. This would help 3M stay competitive and potentially increase sales by offering customers more options within their product line. The other options (A, B, C, E) do not seem to be the primary focus of the introduction of this product.

Question 15

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

Accepted Answer

Relationship marketing is the process of creating, maintaining, and enhancing strong relationships with customers, employees, suppliers, and other partners. This involves understanding their needs and wants, providing personalized service, anticipating their future needs, and developing long-term loyalty and trust. It emphasizes the lifetime value of customers and focuses on building mutual benefits over time. It is a key strategy for increasing customer retention, cross-selling and up-selling, and reducing churn and acquisition costs.

Question 16

Starbucks, Nike, and Johnson & Johnson claim to provide customer value by providing its customers with
A)the best product selection in the market.
B)the best products in the market.
C)the most convenient shopping availability.
D)the best "bang for the buck."
E)the best service.

Accepted Answer

These companies focus on delivering high-quality products that are perceived as the best in their respective markets, which is a key aspect of providing customer value.

Question 17

In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s.A company named Tessitura is trying to change that.Tessitura is able to track every transaction with patrons on one database.This information includes everything: ticket purchases, fund-raising, volunteering, and gift shop purchases.This technology will allow arts groups to develop detailed customer profiles, which will help symphonies, operas, and theaters to tailor their sales message to individuals.In other words, Tessitura is going to allow arts groups to engage in
A)market aggregation.
B)relationship marketing.
C)industry reciprocity.
D)customer-supplier collaboration.
E)mainstream marketing.

Accepted Answer

Tessitura's technology allows arts groups to develop detailed customer profiles which will help them tailor their sales message to individuals. This is an example of relationship marketing, where businesses focus on building strong, long-lasting relationships with customers.

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 feedback.
C)marketing reciprocity.
D)customer valuation.
E)supplier-consumer enticement.

Accepted Answer

The scenario describes a situation where the business traveler is a member of a loyalty program and receives updates on new hotels and ways to earn additional points. This shows that the program is focused on building a relationship with the traveler by providing personalized benefits and engaging with them over time. Relationship marketing aims to create long-term relationships with customers by focusing on their individual needs and preferences.

Question 19

Wal-Mart, Southwest Airlines, and Costco have all been successful offering consumers the
A)the best experience.
B)the best products.
C)the best price.
D)the best service.
E)the best availability.

Accepted Answer

Wal-Mart, Southwest Airlines, and Costco have all been successful offering consumers the best price. They use cost-cutting strategies and efficient operations to provide consumers with lower prices compared to competitors, which enables them to capture a large portion of the market share. While they also offer good experiences, products, service, and availability, their success has been primarily driven by their ability to offer the best price.

Question 20

FIGURE 1-4 
-In Figure 1-4 above, the marketing program is designed for
A)the initial introduction of two new 3M products.
B)specific promotions to be used for long range strategies.
C)targeting the market into twelve specific segments.
D)marketing 3-M products to foreign markets.
E)positioning the products relative to major competitors.

Accepted Answer

The figure specifically mentions two new 3M products being introduced and lays out the marketing program for their launch, indicating that it is designed for the initial introduction of these products.

Quiz 1: Creating Customer Relationships and Value Through Marketing

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

Relationship marketing refers to

FIGURE 1-3 -In Figure 1-3 above, what customer value strategy does Southwest Airlines provide to its customers?

Which of the following acts as a barrier to the development of relationship marketing?

3M selected the packaging options for the Post-it® Flag highlighter by

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

Marketing program refers to

FIGURE 1-4 -In Figure 1-4 above, the value suggested by 3M's pricing strategy comes from

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

Which of the following acts as a barrier to the development of relationship marketing?

Marriott, Lands' End, and Home Depot deliver customer value by providing its customers with the __________ in the market.

The purpose of the introduction of a 3M inventor's Post-it® Flag highlighter was to

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

Starbucks, Nike, and Johnson & Johnson claim to provide customer value by providing its customers with

Wal-Mart, Southwest Airlines, and Costco have all been successful offering consumers the

FIGURE 1-4 -In Figure 1-4 above, the marketing program is designed for

3M selected the packaging options for the Post-it^® Flag highlighter by

The purpose of the introduction of a 3M inventor's Post-it^® Flag highlighter was to