kotler05_tif - Chapter 5: Creating Customer Value,...

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Chapter 5: Creating Customer Value, Satisfaction, and Loyalty GENERAL CONCEPT QUESTIONS Multiple Choice 1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering. a. Profit-centered companies b. Customer-centered companies c. Production-centered companies d. Sales-centered companies e. Promotion-centered companies Answer: b Page: 139 Level of difficulty: Easy 2. The opening vignette on Washington Mutual indicates that, as the Washington Mutual experience shows, successful marketers are the ones that fully ________. a. understand promotional strategy b. diversify their product line c. divorce themselves from a production mentality d. satisfy their customers e. understand the sales concept Answer: d Page: 140 Level of difficulty: Medium 3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid? a. Sales are at the top of the organizational pyramid. b. The president is at the top of the organizational pyramid. c. Front-line people are at the top of the organizational pyramid. d. Customers are at the top of the organizational pyramid. e. Middle management, because of their importance, is at the top of the organizational pyramid. Answer: d Page: 140 Level of difficulty: Medium 119
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Part 3: Connecting with Customers 4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. a. Perceived usefulness b. Failure avoidance rate c. Report rating d. Customer perceived value e. Competitors market share rate Answer: d Page: 141 Level of difficulty: Medium 5. Total customer value is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering. a. psychological b. intangible c. realized d. fabricated e. advertised Answer: a Page: 141 Level of difficulty: Hard 6. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the ________. a. organizational expense ratio b. shopper’s fatigue c. total customer cost d. analysis paralysis e. comparison shopping to comparison buying ratio Answer: c Page: 141 Level of difficulty: Medium 7. In applying a customer’s perceived value to a decision, a seller who is at a customer perceived value disadvantage has two alternatives: to increase total customer value or ________. a. increase a cash-back bonus b. decrease cost c. lose the sale to the competitor d. advertise more frequently e. offer an extended warranty Answer: b Page: 143 Level of difficulty: Medium 8. The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering. a.
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kotler05_tif - Chapter 5: Creating Customer Value,...

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