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1. Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. a. a strong customer focus
b. a relentless pursuit of customer needs
c. customer relationships built by everyone in the organization d. all of the above
e. none of the above
(Answer: d; p. 5; Moderate)

2. _____ are key building blocks for developing and managing customer relationships. f. Consumer expectations and customer satisfaction
g. Customer choices and product offers
h. Product performance and customer value
i. Customer value and customer satisfaction
j. Strategic plans
(Answer: d; p. 8; Challenging)

3. The _____ starts with the factory, focusing on the company’s existing products; it calls for heavy selling and promotion to obtain profitable sales. k. marketing concept
l. production concept
m. product concept
n. selling concept
o. company advertising
(Answer: d; p. 10; Moderate)

4. The goal of customer relationship management is to produce _____. p. revenues
q. profits
r. customer equity
s. a database of customers
t. all of the above
(Answer: c; p. 21; Moderate)

5. The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer _____. u. short-run costs and profits
v. short-run ethics
w. long-run welfare
x. health
y. value propositions
(Answer: c; p. 12; Moderate)

6. _____ is an important concept when we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. z. Heuristics

{. Net profit
|. Customer lifetime value
}. Relationship marketing
~. Market share
(Answer: c; p. 20; Moderate)

7. After surveying all 3,500 customers by e-mail, Best Value Stores learned that its customers favor high quality, performance, and innovative features. Best Value’s customers were surveyed about _____. . product concept

. production concept
. customer satisfaction
. marketing concept
. promotion concept
(Answer: a; p. 10; Challenging)

8. 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 _____. . customer expectations; competitive prices

. company performance; competition
. customer expectations; company performance
. company performance; unique products
. relationship building; promotional tools
(Answer: c; p. 14; Moderate)

9. Some firms find themselves in markets with many low-margin customers. As assistant marketing director, what type of relationship would you develop with these customers? . Full partnerships.

. Basic relationships.
. Relationship marketing.
. Key customer marketing.
. Lifetime value.
(Answer: b; p. 15; Moderate)

1. Making more sales to current customers without changing a firm’s products is _____. a. market development
b. market growth
c. market penetration
d. product development
e. industry attractiveness
(Answer: c; p. 44; Moderate)

2. _____ should be market oriented and defined in terms of _____. f. Strategic plans; company needs
g. Annual plans; product needs
h. Long-range plans; company needs
i. Mission statements; customer needs
j. Objectives; customer wants
(Answer: d; p. 38; Moderate)

3. Under the _____ organizational format of marketing departments, different marketing activities are headed by a functional specialist. k. geographic
l. product management
m. market...
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