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3010 Exam and quizes

3010 Exam and quizes - Quiz 1 View Results When sellers...

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Unformatted text preview: Quiz 1 View Results When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Student response: Percent Correct Student Answer Choices Value Response Response 100.0% a. false 0.0% b. true Score:0 / 0.67 Question 2 Student response: Percent Value (0.67 points) ________ is the act of obtaining a desired object from someone by offering something in return. Correct Response Student Response Answer Choices 0.0% a. A value proposition 100.0% b. Exchange 0.0% c. Bribery 0.0% d. Value 0.0% e. Donation Score:0 / 0.67 (Question not answered. ) Question 3 designing a customer-driven marketing strategy. Student response: Percent Correct Student Value Response Response (0.67 points) According to the simple five-step model of the marketing process, a company needs to ________ before Answer Choices 0.0% a. determine how to deliver superior value 0.0% b. build profitable relationships with customers 0.0% c. use customer relationship management to create full partnerships with key customers 100.0% 0.0% d. understand the marketplace and customer needs and wants e. construct key components of a marketing program Score:0 / 0.67 (Question not answered. ) Question 4 (0.67 points) Some fast- food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast -food restaurants overlook the ________ philosophy. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. marketing concept 0.0% b. product concept 0.0% c. production concept 100.0% d. societal marketing concept 0.0% e. selling concept Score:0 / 0.67 (Question not answered. ) Question 5 (0.67 points) Afia, a team leader in charge of customer relationship management, is planning strategies for improving the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong? Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. butterflies 0.0% b. true friends 0.0% c. strangers 100.0% d. barnacles 0.0% e. short -term customers Score:0 / 0.67 (Question not answered. ) Question 6 Student response: Percent Correct Student Value Response Response (0.67 points) All of the following are accurate descriptions of modern marketing today, EXCEPT which o ne? Answer Choices 0.0% a. Marketing is the creation of value for customers. 0.0% b. Marketing is managing profitable customer relationships. 100.0% c. Selling and advertising are synonymous with marketing. Prepared by: Derek Tai 1 of 2709 12/11/2010 0.0% d. Marketing involves satisfying customers' needs. 0.0% e. Marketing is used by for-profit and not- for- profit organizations. Score:0 / 0.67 (Question not answered. ) Question 7 (0.67 points) According to manage ment guru Peter Drucker, "The aim of marketing is to ________." Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. create customer demands 0.0% b. identify customer demands 100.0% c. make selling unnecessary 0.0% d. set realistic customer expectations 0.0% e. sell products Score:0 / 0.67 (Question not answered. ) Question 8 Student respo nse: Percent Correct Value Response (0.67 points) A church targeting different demographic groups to increase attendance is an example of ________. Student Response Answer Choices 0.0% a. for-profit marketing 100.0% b. not -for-profit marketing 0.0% c. mindless marketing 0.0% d. ethics in marketing 0.0% e. societal marketing Score:0 / 0.67 (Question not answered. ) Question 9 Student response: Percent Correct Value Response (0.67 points) Market offerings are limited to physical products. Student Response Answer Choices 100.0% a. false 0.0% b. true Score:0 / 0.67 (Question not answered.) Question 10 Student response: Percent Correct Student Value Response Response (0.67 points) Which of the following phrases reflects the marketing concept? Answer Choices 0.0% a. The supplier is king. 0.0% b. Marketing should be viewed as hunting and not gardening. 0.0% c. This is what I make, won't you please buy it? 100.0% d. This is what I want, won't you please make it? 0.0% e. none of these Score:0 / 0.67 (Question not answered. ) Question 11 our value proposition?" Student response: Percent Correct Value Response (0.67 points) Two important questions underlying marketing strategy are "Who is our target market?" and "What's Student Response Answer Choices 0.0% a. false 100.0% b. true Score:0 / 0.67 (Question not answered. ) Question 12 Student response: Percent Correct Value Response (0.67 points) Selling is managing profitable customer relationships. Student Response Answer Choices 100.0% a. false 0.0% b. true Score:0 / 0.67 (Question not answered. ) Question 13 undertakes a large-scale selling and promotion effort. Student response: Percent Correct Value Response (0.67 points) The selling concept holds that consumers will not buy enough of the firm's products unless it Student Response Answer Choices 0.0% a. false 100.0% b. true Prepared by: Derek Tai 2 of 2709 12/11/2010 Score:0 / 0.67 (Question not answered. ) Question 14 Student response: Percent Correct Value Response (0.67 points) ________ is the set of actual and potential buyers of a product. Student Response Answer Choices 100.0% a. A market 0.0% b. An audience 0.0% c. A group 0.0% d. A segment 0.0% e. An exchange Score:0 / 0.67 (Question not answered. ) Question 15 (0.67 points) Selecting which segments of a population of customers to serve is cal led ________. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. market segmentation 0.0% b. positioning 0.0% c. customization 100.0% d. target marketing 0.0% e. choosing a value proposition Score:0 / 0.67 (Question not answered. ) Chapter 1 Quiz User ID: cliu6 Attempt: 1 / Unlimited Out of: 10.05 Started: September 3, 2010 12:18am Finished: September 3, 2010 12:29am Time spent: 11 min. 41 sec. Question 1 (0.67 points) The art and science of choosing target markets and building profitable relationships with them is called ________. Student response: Percent Value Correct Response Student Response Answer Choices 100.0% positioning c. segmentation 0.0% d. selling 0.0% Question 2 marketing management b. 0.0% Score: a. 0.0% e. societal marketing 0 / 0.67 (0.67 points) Marketing management is interested in serving all customers in every way to remain competitive in today's markets. Student respons e: Percent Value Correct Response Student Response Answer Choices 100.0% a. false 0.0% b. true When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Score: Question 3 0.67 / 0.67 (0.67 points) When marketers set low expectations for a market offering, they are most likely to run the risk of which of the following? Student response: Percent Value 0.0% Prepared by: Derek Tai Correct Response Student Response Answer Choices a. disappointing loyal customers 3 of 2709 12/11/2010 0.0% b. decreasing customer satisfaction 100.0% c. failing to attract enough customers 0.0% Score: Question 4 d. failing to understand their customers' needs 0.0% e. incorrectly identifying a target market 0 / 0.67 (0.67 points) It is most accurate to say that today almost every company, small and large, is affected in some way by which of the followin g? Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. the societal marketi ng concept 0.0% global competition 0.0% Question 5 customer relationship management c. d. not -for-profit marketing 0.0% Score: b. 100.0% e. customer - generated marketing 0 / 0.67 (0.67 points) Elisandra, a marketing manager at a regional chain restaurant, has decided to create a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Elisandra's plan is an example of ________. Student response: Percent Value Correct Response Student Response Answer Choices 100.0% partner relationship management c. customer lifetime value 0.0% d. community development around a brand 0.0% Question 6 consumer - generated marketing b. 0.0% Score: a. 0.0% e. share of customer 0 / 0.67 (0.67 points) Consumer research, product development, communication, distribution, pricing, and service are all most accurately described a s core ________ activities. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% marketing c. management 0.0% d. production 0.0% Question 7 exchange b. 0.0% Score: a. 100.0% e. customer relationship management 0.67 / 0.67 (0.67 points) All of the following are accurate descriptions of modern marketing today, EXCEPT which one? Student response: Percent Correct Student Value Response Response Answer Choices 0.0% 0.0% b. Marketing is managing profitable customer relationships. 100.0% Prepared by: Derek Tai a. Marketing is the creation of value for customers. c. Selling and advertising are synonymous with marketing. 4 of 2709 12/11/2010 0.0% Score: Question 8 d. Marketing involves satisfying customers' needs. 0.0% e. Marketing is used by for-profit and not- for- profit organizations. 0.67 / 0.67 (0.67 points) Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands and anticipates customer needs even bett er than customers themselves do and creates products and services to meet current and future wants and demands. Marie's firm practices ________ marketing. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% customer -driving c. societal 0.0% d. donor 0.0% Question 9 customer -driven b. 0.0% Score: a. 100.0% e. none of these 0.67 / 0.67 (0.67 points) Which of the following is most essential to any definition of marketing? Student response: Percent Value Correct Response Student Response Answer Choices 0.0% the production concept c. customer relationships 0.0% d. making a sale 0.0% Question 10 demand management b. 100.0% Score: a. 0.0% e. making a profit 0 / 0.67 (0.67 points) Human needs are shaped by culture and individual personality. Student response: Percent Value Correct Response Student Response Answer Choices 100.0% Question 11 false 0.0% Score: a. b. true 0 / 0.67 (0.67 points) Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% marketing concept 0.0% b. product concept 0.0% c. production concept 100.0% d. societal marketing concept 0.0% Prepared by: Derek Tai a. e. selling concept 5 of 2709 12/11/2010 Score: Question 12 0.67 / 0.67 (0.67 points) According to management guru Peter Drucker, "The aim of marketing is to ________." Student response: Percent Value Correct Response Student Response Answer Choices 0.0% identify customer demands c. make selling unnecessary 0.0% d. set realistic customer expectations 0.0% Question 13 create customer demands b. 100.0% Score: a. 0.0% e. sell products 0 / 0.67 (0.67 points) Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online ad vertising campaign emphasizing the long-term benefits, both educational and professional, of reading every day. This is an example of a(n) ________ campaign. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. ethical 100.0% b. social marketing 0.0% Question 14 for-profit d. consumer - generated 0.0% Score: c. 0.0% e. differentiated 0 / 0.67 (0.67 points) Sally purchased Brand X lotion. In comparing her perception of how the lotion performed to her expectations for Brand X lotio n, Sally was measuring her level of ________. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% customer satisfaction c. exchange 0.0% d. demand 0.0% Question 15 customer perceived value b. 0.0% Score: a. 100.0% e. customer lifetime value 0 / 0.67 (0.67 points) In its broadest sense, customer relationship management (CRM) is a customer data management activity. Student response: Percent Value Correct Response Student Response Answer Choices 100.0% Score: a. false 0.0% b. true 0 / 0.67 Question 1 (0.67 points) The ________ steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships. Student response: Percent Correct Student Answer Choices Value Response Response Prepared by: Derek Tai 6 of 2709 12/11/2010 0.0% a. first two 0.0% b. first three 100.0% c. first four 0.0% d. last three 0.0% e. last four Score:0.67 / 0.67 Question 2 (0.67 points) 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 relati onships. Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction. Your manager is concerned with which one of the fo llowing? Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. database management 0.0% b. Web site hits 0.0% c. the societal marketing concept 0.0% d. not -for-profit marketing 100.0% e. customer relationship management Score:0.67 / 0.67 Question 3 (0.67 points) According to the simple five -step model of the marketing process , a company needs to ________ before designing a customerdriven marketing strategy. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. determine how to deliver superior value 0.0% b. build profitable relationships with customers 0.0% c. use customer relationship management to create full partnerships with key customers 100.0% d. understand the marketplace and customer needs and wants 0.0% e. construct key components of a marketing program Score:0.67 / 0.67 Question 4 markets and ________. Student response: Percent Correct Value Response (0.67 points) As part of the rapid globalization of today's economy, companies are selling more locally produced goods in int ernational Student Response Answer Choices 0.0% a. taking a local view of their industry 100.0% b. purchasing more supplies abroad 0.0% c. reducing competition within their industry 0.0% d. downplaying concerns for social responsibility 0.0% e. competing solely in traditional marketplaces Score:0.67 / 0.67 Question 5 (0.67 points) Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands. Marie's firm practices ________ marketing. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. customer -driven 100.0% b. customer -driving 0.0% c. societal 0.0% d. donor 0.0% e. none of these Score:0 / 0.67 Question 6 (0.67 points) It is most accurate to say that today almost every company, small and large, is affected in some way by which o f the following? Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. the societal marketing concept 0.0% b. customer relationship management 100.0% c. global competition 0.0% d. not -for-profit marketing 0.0% e. customer - generated marketing Prepared by: Derek Tai 7 of 2709 12/11/2010 Score:0.67 / 0.67 Question 7 Student response: Percent Value (0.67 points) Market offerings are limited to physical products. Correct Response Student Response Answer Choices 100.0% a. false 0.0% b. true Score:0.67 / 0.67 Question 8 (0.67 points) Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell. By promoting a company culture that values exceptional value and service, Shania aims to create _____ ___ by going beyond the expected. Student response: Percent Correct Student Answer Choices Value Response Response 100.0% a. customer delight 0.0% b. customer satisfaction 0.0% c. customer equity 0.0% d. customer value 0.0% e. customer loyalty Score:0.67 / 0.67 Question 9 (0.67 points) The art and science of choosing target markets and building profitable relationships with them is called ______ __. Student response: Percent Correct Student Answer Choices Value Response Response 100.0% a. marketing management 0.0% b. positioning 0.0% c. segmentation 0.0% d. selling 0.0% e. societal marketing Score:0.67 / 0.67 Question 10 Student response: Percent Value (0.67 points) Product, price, place, and promotion make up the elements of a firm's marketing mix. Correct Response Student Response Answer Choices 0.0% a. false 100.0% b. true Score:0.67 / 0.67 Question 11 (0.67 points) Pete Sanchez, a recent graduate of business school, has a different approach than his mar keting manager, who believes in keeping customers at arm's length and using mass media advertising. Pete knows that today few successful firms still practice this type of true ________ and are instead turning to selective relationship management. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. club marketing 0.0% b. frequency marketing 100.0% c. mass marketing 0.0% d. customer satisfaction 0.0% e. marketing segmenting Score:0.67 / 0.67 Question 12 Student response: Percent Value (0.67 points) Only sellers of products, services, and ideas practice marketing, whereas buyers do not. Correct Response Student Response Answer Choices 100.0% a. false 0.0% b. true Score:0.67 / 0.67 Question 13 (0.67 points) Ben & Jerry's challenges all stakeholders, including employees, top management, and even ice cream scoopers in t heir stores, to consider individual and community welfare in their day - to-day decisions. Actions such as this by companie s seizing the opportunity to do well by doing good reflects ________. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. virtual marketing 100.0% b. social responsibility 0.0% c. profit marketing Prepared by: Derek Tai 8 of 2709 12/11/2010 0.0% d. marketing 0.0% e. myopia Score:0.67 / 0.67 Question 14 (0.67 points) ________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer ne eds. Student response: Percent Correct Student Answer Choices Value Response Response 0.0% a. Selling myopia 0.0% b. Marketing management 0.0% c. Value proposition 100.0% d. Marketing myopia 0.0% e. The product concept Score:0.67 / 0.67 Question 15 (0.67 points) The major difference between customer-driving marketing and customer-driven marketing is that the customer -driving marketing considers only existing needs. Student response: Percent Correct Student Value Response Response 100.0% 0.0% Question 1 (0.67 points) The difference between human needs and wants is that needs are not influenced by marketers. Student response: Percent Value Correct Response Student Response 0.0% 100.0% Market offerings can i nclude products, services, information, or experiences offered to a market to satisfy a need or want. Student response: Percent Value Correct Response Student Response 0.0% 100.0% Question 7 (0.67 points) ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Student response: Percent Value Correct Response Student Response Answer Cho 0.0% Sell b. Adv 0.0% c. Bart 100.0% d. Mar 0.0% Score: a. 0.0% e. Neg 0.67 / 0.6...
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