Marketing: Managing Profitable Customer Relationships
Central to any definition of marketing is _____.
c. customer relationships
d. making a sale
2. All of the following are accurate descriptions of modern marketing today, except which one?
a. Marketing is creation of value for customers.
b. Marketing is customer satisfaction at a profit. c. Selling and advertising are synonymous with marketing. d. Marketing involves building and managing profitable customer relationships.
Society and culture shape the basic form of human needs called _____.
The fundamental reason America’s most admired firms, including Wal-Mart, Proctor & Gamble and Disney, conduct extensive research is to _____.
b. increase market share
c. increase sales
d. understand customer’s needs, wants and demands 5.
_____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.
a. Selling myopia
d. Marketing myopia
_____ are key building blocks for developing and managing customer
a. Consumer expectations and customer satisfaction
b. Customer choices and product offers
c. Product performance and customer value
d. Customer value and customer satisfaction
All of the following phrases reflect the marketing concept, except which one? a. We don’t have a Marketing Department, we have a Customer Department. b. We make it happen for you.
c. We stay close to customers.
d. Putting profits ahead of customer needs is critical to the health of the firm.
An example of a(n) _____ is when a customer pays Circuit City $250 and receives a television set in return.
______ is the set of actual and potential buyers of a product.
a. A market
b. An audience
c. A group
d. A segment
Activities such as product development, research, promotion, pricing and
distribution are core _____. a. business activities
b. marketing activities
c. exchange relationship activities
d. consumer activities
11. The art and science of choosing target markets and building profitable relationships with them is called _____.
a. marketing management
_____ is the set of benefits a company promises to deliver its consumers to satisfy their needs.
a. Money-back guarantee
b. Low prices
c. Good customer service
d. Value proposition
The _____ is a useful philosophy in situations when the product’s cost is too high and marketers look for ways to bring it down. a. selling concept
b. product concept
c. production concept
d. marketing concept
In large metro areas such as New York, to avoid traffic gridlock in Manhattan, _____ is undertaken to encourage commuters to carpool and use mass transit. a. target marketing
b. market segmentation
When Wal-Mart profitably targets buyers who value savings, it is an example of _____. a.
Build a better mousetrap and the world will beat a path to your door reflects the _____.
a. production concept
b. marketing concept...
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