Marketing Final Exam

Model customer 10 personnel in sales oriented firms

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Unformatted text preview: KEY: CB&E Model Customer 10. Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what the market wants. ANS: F Personnel is in sales-oriented firms tend to be “inward looking,” focusing on selling what the organization makes rather than making what the market wants. PTS: 1 REF: 7 Thinking KEY: CB&E Model Strategy OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Application 11. Customer value is the relationship between company profits and company costs. ANS: F Customer value is the relationship between benefits and the sacrifice necessary to obtain those benefits. PTS: 1 REF: 7 Thinking KEY: CB&E Model Customer OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Knowledge 12. The way to achieve customer satisfaction and value is to offer the lowest price. ANS: F Marketers interested in customer value offer realistic prices and try to achieve customer satisfaction and value by ensuring customer expectations are met or exceeded. PTS: 1 REF: 7-8 Thinking KEY: CB&E Model Customer OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Evaluation 13. 3D Systems is a company that uses computers to generate new product prototypes. It has generated loyal business clients by providing the best customer support in the industry. The company also provides direct sales consultations that give its salespeople intimate knowledge about what exactly its customers want. This partnership between 3D Systems and its customers entails relationship marketing. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 9 OBJ: 01-3 KEY: CB&E Model Customer 14. Only a firm’s salespeople need to be customer oriented. ANS: F All employees need to be customer oriented because in the customer’s eyes, the employee (regardless of the position held in the organization) is the firm and may be the only firm representative the customer ever sees. PTS: 1 REF: 9 Thinking KEY: CB&E Model Customer OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Evaluation 15. Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 10 OBJ: 01-3 KEY: CB&E Model Customer 16. In the early 1920s, Ford promised its customers any color vehicle they wanted as long as it was black. Ford’s management assumed anyone buying a car would accept the color black, so it made products affordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm. ANS: F A market-oriented organization recognizes that different customers groups want different features or benefits. PTS: 1 REF: 11 Thinking KEY: CB&E Model Customer OBJ: 01-3 TOP: AACSB Reflective MSC: BLOOMS Application 17. While most marketing organizations rely on various forms of promotion to succeed, sales- oriented organizations make the most effective use of their entire marketing mix. ANS: F S...
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This document was uploaded on 09/29/2013.

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