Deck 25: Ontemporary Applications of Marketing Intelligence

Question 1

Competitive benchmarking is comparing the company's processes, practices, and products against the world's best companies, including those from other industries.

Answer 1

True

Question 2

A dollar metric scale is a survey device that provides a direct measure of the value of the brand name.

Answer 2

True

Question 3

The use of mass media to create brands is still considered the correct way to build brands.

Answer 3

False

Question 4

Brand equity is defined as a set of brand assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service to the firm's customers and/or to that firm's customers.

Question 5

A market based competitive assessment is a direct comparison with a few target competitors.

Question 6

It is impossible to measure price premium through customer research

Question 7

Delighted customers need an incentive to repurchase a product or service.

Question 8

Relationship marketing centers on developing a continuous relation- ship with consumers, on a one-to-one basis, across a family of related products and services.

Question 9

Integrated marketing communications is the process of developing and implementing various forms of persuasive communications programs with customers and prospects over time.

Question 10

Brand-equity assets don't have the potential to provide a brand with a price premium

Question 11

Customer-centric marketing that would build mutually beneficial relationships over time using all points of interaction.

Question 12

A delighted customer costs less to service, stays longer and buys more.

Question 13

Buyer-centric organizations focus only on maximizing sales and margins.

Question 14

Customer satisfaction measures attempt to provide a quantitative interpretation of customers' feelings and attitudes in response to their experiences with a company's products/services.

Question 15

Price premium for a brand is the only way to quantify brand equity

Question 16

A process based competitive assessment is evaluating the processes employed by the company to compete in the marketplace.

Question 17

The impetus behind integrated marketing is the realization that the company's products and services exist to increase company profits and maximize shareholder value.

Question 18

Total Quality Management is a business philosophy that tends to use quality improvement as a competitive advantage.

Question 19

Marketing Intelligence increases potential value of a customer who has a positive customer service experience.

Question 20

Total Quality Management is restricted to the quality assurance and quality control departments in an organization.

Question 21

A systematic effort to effect continuous quality improvements in the processes, products, services, and human resources throughout the organization is

A)total quality management.
B)customer satisfaction research.
C)relationship marketing.
D)productivity improvement.
E)brand equity.

Question 22

In order to maximize profit companies need to target its loyal customers as they are always profitable

Question 23

The process of managing complex changes in the organization with the aim of improving quality is called

A)None of the above
B)Total Quality management
C)Benchmarking
D)Brand extension
E)Brand control

Question 24

Which one of the following does not pertain to a market based method of assessing competitive advantage?

A)Market share
B)Recall share
C)R&D share
D)Relative cost comparison
E)Advertising share

Question 25

Prevention of attrition of customers is an equally important task like customer acquisition in a firm's customer management strategy

Question 26

A Buyer-centric organizations' approach to offering products and services include

A)Providing solutions that empower customers to make informed decisions.
B)Providing solutions that closely reflect customer preferences
C)Helping customers to maximize efficiency, productivity and marketable value of personal assets
D)All of the above

Question 27

Perceived quality is a dimension of brand equity

Question 28

Which one of the following does not pertain to a process based method of assessing competitive advantage?

A)Marketing skills audit
B)Recall share
C)Comparison of winning versus losing competitors
D)Relative costs comparison
E)Identifying high leverage phenomena

Question 29

Relationship marketing incorporates: 1-identifying and building a database of current and potential customers. 2-delivering differential messages to the consumers through established media channels. 3-Tracking the relationships to monitor the cost of acquiring the consumer.

A)1
B)2
C)3
D)1 and 2 only
E)1, 2, and 3

Question 30

In addition to increased value and profits, Buyer-centric companies focus on consumer information, attention and emotional commitment.

Question 31

The percentage of customers who name the brand that comes to their mind when considering buying a particular type of product is referred to as

A)Market share
B)Recall share
C)Advertising share
D)R&D share

Question 32

Marketing Intelligence tools provide a wealth of information related to track customers' buying patterns, individual preferences and satisfaction levels.

Question 33

Which one of the following does not represent an asset underlying the equity of a brand?

A)Brand loyalty
B)Name awareness
C)Perceived quality
D)Cost of the brand
E)Proprietary assets such as patents, trademarks, etc.

Question 34

In Buyer-centric marketing, buyers take center-stage and they spell out their needs.

Question 35

Which of the following are benefits of Buyer-centric marketing?

A)Opportunities from new growth sectors
B)Increased value of the corporation and its assets
C)Reduced marketing research expense since customers specify needs
D)Enhanced trust with customers
E)All of the above

Question 36

Efficiency and profitability of corporations do not always translate into corresponding value addition for consumers.

Question 37

A survey that provides a direct measure of the brand name's value is called

A)Excess-price approach
B)Market-based assessment
C)Dollarmetric scale
D)Trade off analysis
E)None of these

Question 38

The power of measurements is clearly visible in applications of

A)Total Quality management
B)Benchmarking
C)Quality function deployment QFD.
D)Brand extension
E)None of the above