Question 1

Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

Accepted Answer

The societal marketing concept emphasizes on meeting the needs of customers while also enhancing societal well-being and minimizing negative impacts on the environment. Therefore, organizations following this concept are more likely to prioritize socially and environmentally responsible marketing practices.

Question 2

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________.

Accepted Answer

Sally is measuring her satisfaction with the moisturizing lotion. Customer satisfaction refers to the overall evaluation of a customer's experience with a product or service and is influenced by their expectations and perceived performance.

Question 3

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers?

Accepted Answer

Organizations are likely to engage in full partnerships with key consumers when there are few customers and high margins, as this allows for personalized attention and relationship-building, maximizing the value from each customer.

Question 4

Briefly explain the societal marketing concept.

Accepted Answer

The answer of Briefly explain the societal marketing concept....

Question 5

Customer evangelists are those who ________.

Accepted Answer

Customer evangelists are individuals who have had positive experiences with a brand or product and spread the word about it to others. They are essentially brand advocates who promote the product or service through word-of-mouth marketing.

Question 6

The marketing concept is a customer-centered, sense-and-respond philosophy.

Accepted Answer

The marketing concept is all about identifying and satisfying the needs and wants of the customers. It involves understanding the target market, creating value for customers, and building strong relationships with them. This approach puts the customer at the center of all marketing activities and focuses on delivering superior customer value. The sense-and-respond philosophy refers to the idea of continuously listening to customers, interpreting their feedback, and adapting marketing strategies accordingly. Together, the marketing concept and the sense-and-respond philosophy form a customer-centered approach that helps businesses stay competitive in today's dynamic marketplace.

Question 7

Compare the selling and marketing concepts, and list the key components of each concept.

Accepted Answer

The answer of Compare the selling and marketing concepts, and...

Question 8

Product, price, place, and promotion make up the elements of a firm's marketing mix.

Accepted Answer

This is a true statement. The four Ps - product, price, place, and promotion - are the main components of a company's marketing mix, which are used to develop and execute their marketing strategy.

Question 9

Which of the following is an example of consumer-generated marketing?

Accepted Answer

Fun & Run allowing consumers to upload videos and write reviews about the park is an example of consumer-generated marketing.

Question 10

A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

Accepted Answer

A brand's value proposition is indeed the set of benefits or values it promises to deliver to consumers to satisfy their needs. This proposition differentiates the brand from its competitors and forms the basis of its marketing strategy.

Question 11

Why do companies generally divide a market into segments of customers?

Accepted Answer

The answer of Why do companies generally divide a market...

Question 12

Compare and contrast the product and production concepts.

Accepted Answer

The answer of Compare and contrast the product and production...

Question 13

Ritz-Carlton is fervently dedicated to anticipating customers' slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel or the blinds open upon arrival. An amazing 95 percent of departing guests report that their stay has been a truly memorable experience. This is an example of ________.

Accepted Answer

The described situation is an example of customer delight, as Ritz-Carlton is going above and beyond to exceed customer expectations and leave a lasting positive impression.

Question 14

Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get to know them personally. Instead, Tide creates engagement and relationships through brand-building advertising, Web sites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers?

Accepted Answer

Basic relationships would be the most profitable for Tide to develop with its customers. These types of relationships are less intensive than partnerships or joint ventures, but still allow the brand to engage and connect with customers through advertising and social media. This approach aligns with Tide's strategy of building relationships with customers through brand-building activities rather than personalized interactions.

Question 15

________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Accepted Answer

Sustainable marketing focuses on meeting current consumer and business needs while also preserving or improving the ability of future generations to meet their own needs. It is socially and environmentally responsible and takes into account the long-term impact of marketing activities.

Question 16

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

Accepted Answer

Customer-perceived value is the term used to describe a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. This evaluation is based on the customer's individual needs and preferences.

Question 17

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them.

Accepted Answer

Marketing by attraction is a way of creating offerings and messages that attract and engage consumers rather than interrupting them. This approach focuses on providing valuable content and creating a positive brand image to draw customers in. It is a more organic and customer-centric approach to marketing, which can lead to greater customer satisfaction and loyalty.

Question 18

The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.

Accepted Answer

The product concept states that consumers will prefer products that offer high quality, good performance, and innovative features. Therefore, the statement is true.

Question 19

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

Accepted Answer

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as customer relationship management (CRM). Perceived-value management, societal marketing, partner relationship management, and enterprise resource planning are all related but refer to different concepts and processes.

Question 20

Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.

Accepted Answer

The production concept is focused on producing high-quality products at low prices, with little consideration for changes or improvements. Xenon Corp. is constantly updating and improving its products, indicating a focus on customer needs and the marketing concept.

Quiz 1: Marketing: Creating Customer Value and Engagement