Question 1

Bolpalc, an automobile manufacturer, sends personalized diaries and other goodies every year to all the clients who puchased Bolpalc's luxury sedans. Which of the following marketing strategies does this scenario best illustrate?

Accepted Answer

Customer relationship management (CRM) is a marketing strategy that focuses on building and maintaining relationships with customers. Bolpalc's personalized diaries and other goodies are a way to show appreciation for their customers and to keep them coming back for more.

Question 2

The _____ is a business philosophy that makes customer satisfaction-now and in the future-the central focus of the entire organization.

Accepted Answer

The marketing concept is a business philosophy that prioritizes customer satisfaction as the central focus of the organization, both now and in the future.

Question 3

Parchova is a multinational company that manufactures and sells stationery products. Customers who buy five or more products at a time from its retail outlets are given a notepad and a pen for free. In the context of customer relationship management, Parchova most likely establishes _____ with its customers.

Accepted Answer

Parchova establishes limited relationships with its customers by offering a small incentive (a notepad and a pen) for purchasing a certain quantity, which is a basic form of customer engagement without deeper, ongoing interactions.

Question 4

In the context of the evolution of marketing, marketers of the _____ believe that satisfied customers can develop into advocates for businesses by becoming powerful generators of positive "word-of-mouth."

Accepted Answer

The relationship era focuses on building long-term relationships with customers, emphasizing customer satisfaction and loyalty, which can lead to positive word-of-mouth advocacy.

Question 5

Rhonynn, an apparel shop, has a play area for kids in the store to keep them occupied while their parents shop. Kids of Rhonynn's loyalty cardholders are also given a toy or two to take home with them. Which of the following marketing strategies does this scenario best illustrate?

Accepted Answer

This scenario illustrates customer relationship management as it focuses on building and maintaining a strong relationship with customers by providing added value and personalized experiences, such as a play area and toys for loyalty cardholders' children.

Question 6

As part of its corporate social responsibility activities, Weslimkur, a tire manufacturer, sponsored 1,000 bikes for the city of Clankofton. On every bike, the company's name is engraved along with these words: "Ride to work; help save earth from global warming." Which of the following marketing strategies does this scenario best illustrate?

Accepted Answer

This scenario best illustrates idea marketing, as it promotes the concept of riding bikes to work to help reduce global warming, aligning with the company's social responsibility goals.

Question 7

Partypolist, a store that sells party supplies, sends discount coupons to its regular customers before Christmas and Halloween every year. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Accepted Answer

The relationship era focuses on building long-term relationships with customers, and sending discount coupons to regular customers is a strategy to maintain and strengthen these relationships.

Question 8

Arnoury, a car service station, takes feedback from clients after servicing their cars, which gives the clients a sense of importance. Arnoury's management also ensures rectification and improvement of its services based on clients' feedback. Which of the following marketing strategies does this scenario best illustrate?

Accepted Answer

This scenario best illustrates Customer Relationship Management (CRM) as it involves collecting feedback from clients to improve services and maintain a good relationship with them.

Question 9

Which of the following was a major contributing factor in the conception of the marketing concept?

Accepted Answer

The marketing concept emerged as businesses realized the importance of understanding and meeting customer needs to achieve long-term success.

Question 10

Marketers who cannot forge a close personal bond with every customer but actively gather data and pursue a connection with customers who initiate contact have a _____ with the customers.

Accepted Answer

Marketers who gather data and pursue connections with customers who initiate contact typically have a limited relationship, as they do not have the capacity to form close personal bonds with every customer.

Question 11

Baylaine is a company that sells affordable, low-end cell phones. Baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. In the context of customer relationship management, Baylaine most likely establishes _____ with its customers.

Accepted Answer

Baylaine establishes limited relationships with its customers as it provides basic customer support through email, which is typical for companies dealing with a large customer base and offering low-end products.

Question 12

Plotint Bank, a private bank, waives service charges on its insurance products for its existing customers who have term deposits with the bank. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Accepted Answer

The relationship era focuses on building long-term relationships with customers, and waiving service charges for existing customers with term deposits is an example of fostering customer loyalty and retention.

Question 13

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

Accepted Answer

Customer relationship management (CRM) is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

Question 14

In the year 1938, Popoud, a chocolate manufacturing company, was finding it difficult to trade its products because people were reluctant to spend money on nonessential goods. However, the company continued to manufacture chocolates in large quantities. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Accepted Answer

The answer of In the year 1938, Popoud, a chocolate...

Question 15

In the context of the evolution of marketing, which of the following statements is true of businesses in the relationship era?

Accepted Answer

In the relationship era, businesses focus on building long-term relationships with customers, which includes retaining current customers as it is more cost-effective than acquiring new ones.

Question 16

Debbilie, a chain of retail cosmetic stores, offers loyalty cards to its regular customers. The cardholders can earn points and get discounts for the purchases they make at any of the company's stores. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Accepted Answer

The scenario refers to the relationship era, where businesses focus on building long-term relationships with customers, often through loyalty programs and personalized marketing strategies.

Question 17

During the selling era of marketing, supply in many categories exceeded demand. This led to the:

Accepted Answer

During the selling era, businesses faced an oversupply of products, leading to increased competition. As a result, companies adopted aggressive sales techniques, known as the "hard sell," to persuade customers to purchase their products.

Question 18

Which of the following statements is true of customer relationship management (CRM)?

Accepted Answer

CRM is most effective when it combines marketing communication with personalized interactions, allowing businesses to tailor their approach to individual customer needs and preferences.

Question 19

In the year 1906, Kendreed, a company that sold kitchen utensils, had only one model of each of its products. The company did not feel the need to differentiate its wares because it did not analyze its business from a customer's point of view. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Accepted Answer

The scenario describes a focus on production without considering customer preferences, characteristic of the production era.

Question 20

Walt owns an auto repair shop in Northern Rottasa. He goes an extra mile to please his customers by providing comfortable and attractive waiting rooms, friendly service, and long-term warranty on all repair work. Which of the following philosophies has Walt employed to make his customers highly satisfied?

Accepted Answer

Walt is focusing on customer satisfaction by providing excellent service and amenities, which aligns with the marketing concept that emphasizes meeting customer needs and building long-term relationships.

Quiz 11: Marketing: Building Profitable Customer Connections