Question 1

Nike wants to create ________ through its sales representatives' working closely with Sport Chek,Source For Sports,Foot Locker,and other large retailers

Accepted Answer

The answer of Nike wants to create ________ through its...

Question 2

Companies can build customer relationships at many levels,depending on the nature of the ________.

Accepted Answer

The answer of Companies can build customer relationships at many...

Question 3

You have just taken a new position in an organization and you're learning about the job functions of your new colleagues.You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships.Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction.Your manager is concerned with which one of the following?
A)	Database management
B)	Website hits
C)	The societal marketing concept
D)	Partner relationship management
E)	Customer relationship management

Accepted Answer

The marketing manager's focus on building and maintaining profitable customer relationships, delivering superior customer value, and ensuring customer satisfaction aligns with the principles of Customer Relationship Management (CRM). CRM is a strategy for managing an organization's relationships and interactions with current and potential customers.

Question 4

Of the following,which is the most important concept of modern marketing?
A)	Customer relationship management
B)	Societal marketing
C)	Consumer-generated marketing
D)	Properly trained salespeople
E)	Low prices

Accepted Answer

The answer of Of the following,which is the most important...

Question 5

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

Accepted Answer

The answer of The societal marketing concept seeks to establish...

Question 6

Customer-perceived value is determined by a customer's ________ of the difference between all benefits and all costs of a market offering relative to those of competing offers.

Accepted Answer

The answer of Customer-perceived value is determined by a customer's...

Question 7

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business.He is a smart operator who knows that the key to this goal is to match ________ with ________.

Accepted Answer

The answer of Tommy Gray attempts to deliver customer satisfaction...

Question 8

________ is defined as the customer's evaluation of the differences between all the benefits and all the costs of a marketing offer relative to those of competing offers.

Accepted Answer

The answer of ________ is defined as the customer's evaluation...

Question 9

You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?
A)	Full partnerships
B)	Basic relationships
C)	Basic partnerships
D)	Club programs
E)	Selective relationships

Accepted Answer

In a market with many low-margin customers, it is most profitable to develop basic relationships. This approach minimizes costs and resources spent on each customer, which is crucial for maintaining profitability when margins are low. Full partnerships or selective relationships would involve more resources and higher costs, which might not be sustainable or profitable given the low-margin nature of the customers.

Question 10

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

Accepted Answer

The answer of The set of marketing tools a firm...

Question 11

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?
A)	Satisfied customers
B)	Customer evangelists
C)	Butterflies
D)	Full partners
E)	Social customers

Accepted Answer

Customer evangelists are customers who not only make repeat purchases but also actively promote the product or service to others, essentially spreading positive word-of-mouth.

Question 12

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants,society's interests,and ________.

Accepted Answer

The answer of The three areas of consideration that should...

Question 13

UPS seeks more than just sales and profits.Its three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and environmental stewardship.UPS applies the ________ philosophy.

Accepted Answer

The answer of UPS seeks more than just sales and...

Question 14

It is most accurate to say that customers buy from stores and firms that offer which of the following?
A)	The highest value for the dollar
B)	The highest customer-perceived value
C)	The highest level of customer satisfaction
D)	The most attractive company image
E)	The most concern for society's interests

Accepted Answer

The answer of It is most accurate to say that...

Question 15

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

Accepted Answer

The answer of Building and maintaining profitable customer relationships by...

Question 16

UPS's three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and ________

Accepted Answer

The answer of UPS's three-pronged corporate sustainability mission stresses economic...

Question 17

FedEx offers its customers fast and reliable package delivery.When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service,they are acting upon ________.

Accepted Answer

The answer of FedEx offers its customers fast and reliable...

Question 18

Which of the following reflects the marketing concept?
A)	"The supplier is king."
B)	"Marketing should be viewed as hunting and not gardening."
C)	"This is what I make; won't you please buy it?"
D)	"We don't have a marketing department; we have a customer department."
E)	"Customers need to be told where they want to go."

Accepted Answer

The marketing concept focuses on fulfilling the needs and wants of customers rather than pushing a product. Choice D, "We don't have a marketing department; we have a customer department," reflects this customer-centric approach by emphasizing the importance of prioritizing the customer's needs and preferences in all business activities.

Question 19

Sally purchased Brand X lotion.In comparing her perception of how the lotion made her skin feel and look to her expectations for Brand X lotion,Sally was measuring her level of ________.

Accepted Answer

The answer of Sally purchased Brand X lotion.In comparing her...

Question 20

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves both consumers' and society's well-being?
A)	Marketing
B)	Selling
C)	Product
D)	Societal marketing
E)	Equity

Accepted Answer

Societal marketing emphasizes not only providing value to the customer but also focuses on the well-being of society as a whole. It suggests that companies should make marketing decisions considering consumers' wants, the company's requirements, and society's long-term interests.

Quiz 1: Marketing: Creating and Capturing Customer Value

Nike wants to create ________ through its sales representatives' working closely with Sport Chek,Source For Sports,Foot Locker,and other large retailers

Companies can build customer relationships at many levels,depending on the nature of the ________.

Of the following,which is the most important concept of modern marketing?

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

Customer-perceived value is determined by a customer's ________ of the difference between all benefits and all costs of a market offering relative to those of competing offers.

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business.He is a smart operator who knows that the key to this goal is to match with .

________ is defined as the customer's evaluation of the differences between all the benefits and all the costs of a marketing offer relative to those of competing offers.

You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

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

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants,society's interests,and ________.

UPS seeks more than just sales and profits.Its three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and environmental stewardship.UPS applies the ________ philosophy.

It is most accurate to say that customers buy from stores and firms that offer which of the following?

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

UPS's three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and ________

FedEx offers its customers fast and reliable package delivery.When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service,they are acting upon ________.

Which of the following reflects the marketing concept?

Sally purchased Brand X lotion.In comparing her perception of how the lotion made her skin feel and look to her expectations for Brand X lotion,Sally was measuring her level of ________.

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves both consumers' and society's well-being?