Question 1

Which of the following statements about relationship marketing is most accurate?
A)Relationship marketing has a short-term focus: increasing profits for the firm.
B)Relationship marketing begins before and ends after the sale.
C)Relationship marketing occurs when there is a personal, ongoing relationship between an organization and its customers.
D)Very few companies today are engaged in relationship marketing.
E)The Internet has allowed marketers to establish more personal relationships with customers.

Accepted Answer

The answer of Which of the following statements about relationship...

Question 2

A marketing program refers to
A)a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
B)the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line.
C)the marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem.
D)the specific ratio within a marketing budget that divides resources between advertising, promotions, and personal selling.
E)the allocation of resources within a firm towards individual marketing mix elements.

Accepted Answer

A marketing program is a comprehensive plan that combines the marketing mix elements (product, price, promotion, and place) to effectively and efficiently deliver a product, service, or idea to the target market. It involves creating a strategy that aligns with the goals of the organization and addresses the needs and preferences of the customers.

Question 3

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as a(n) __________.
A)market segment
B)target market
C)customer base
D)ultimate consumer
E)preferred customer

Accepted Answer

A market segment refers to a group of prospective buyers who share common needs and characteristics, such as demographics, psychographics, behaviors or attitudes. These groups are typically more homogeneous or similar to each other than the overall market, which allows marketers to tailor their marketing efforts and offer more customized products, services, messages or promotions that are more relevant and appealing to these specific groups. A target market, on the other hand, is a segment or segments of the market that a company chooses to focus its marketing efforts and resources on, based on its goals, resources, capabilities, and competitive landscape. A customer base is the group of current customers who have already purchased or used a company's products or services. An ultimate consumer refers to the end-user or final customer who buys and uses a product or service for personal or household purposes, rather than for resale or production. A preferred customer is a loyal or high-value customer who receives special treatment or benefits from a company, such as discounts, rewards, or exclusive offers.

Question 4

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as
A)relationship marketing.
B)exclusive dealing.
C)loyalty marketing.
D)customer relationship management.
E)symbiotic marketing.

Accepted Answer

Relationship marketing refers to the practice of building long-term, personalized relationships with customers, employees, suppliers, and other partners in order to create mutual value and foster loyalty. It is all about creating strong, ongoing connections with stakeholders that benefit both the organization and the individual. This approach emphasizes the importance of understanding and meeting the needs and preferences of each individual, rather than treating everyone as a generic target market.

Question 5

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of
A)demographic clusters.
B)organizational buyers.
C)ultimate consumers.
D)market segments.
E)qualified prospects.

Accepted Answer

Market segments are groups of consumers with similar needs, wants, and characteristics that a company can target with a specialized marketing mix. These groups are relatively homogeneous collections of prospective buyers, meaning that they share similar characteristics such as age, income level, lifestyle, and purchasing behavior. By identifying market segments, companies can tailor their products, messaging, and distribution to better meet the needs and desires of specific groups of consumers.

Question 6

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible
A)marketing strategy.
B)macromarketing agenda.
C)micromarketing agenda.
D)marketing program.
E)marketing concept.

Accepted Answer

The concepts must be converted into a tangible marketing program, which outlines the specific actions and tactics that will be used to implement the marketing strategy.

Question 7

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
A)marketing strategy
B)marketing program
C)macromarketing tactic
D)micromarketing tactic
E)customer relationship management

Accepted Answer

Key term definition-marketing program.

Question 8

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.
A)market segment
B)demographic cluster
C)organizational buyer group
D)ultimate consumer group
E)qualified prospect group

Accepted Answer

A market segment is a group of people who exhibit similar consumption behavior, such as similar needs, preferences, and buying habits. The goal of marketing is to identify and target these segments with tailored marketing messages and offerings. The other options, such as demographic cluster, organizational buyer group, ultimate consumer group, or qualified prospect group, are not as directly related to the concept of market segmentation.

Question 9

According to the textbook, Target has been successful by offering consumers the best
A)experience.
B)products/services.
C)customer service.
D)availability.
E)price

Accepted Answer

Target's success has been attributed to their ability to offer consumers the best price. This allows them to differentiate themselves from competitors and attract price-sensitive customers.

Question 10

Market segments refer to
A)the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Accepted Answer

Market segments refer to the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. This allows companies to tailor their marketing strategies to appeal specifically to each group, rather than having a one-size-fits-all approach.

Question 11

In the performing arts world, box office technology has remained virtually unchanged since the 1980s. Tessitura is trying to change that by tracking every patron transaction, including ticket purchases, fund-raising, volunteering, and gift shop purchases, in one database. The information can help symphonies, operas, and theaters develop customer profiles to tailor sales messages to specific individuals. Tessitura will allow arts groups to engage in
A)market aggregation.
B)relationship marketing.
C)societal marketing.
D)market mining.
E)mainstream marketing.

Accepted Answer

The use of Tessitura technology allows arts groups to develop customer profiles and tailor sales messages to specific individuals, indicating a focus on relationship marketing.

Question 12

The purpose of the introduction of 3M Post-it Flag Highlighters was to
A)stay ahead of trends and focus its marketing program on only one segment.
B)stay ahead of trends and focus its marketing program on two mutually inclusive segments.
C)increase production economies of scale by reducing manufacturing and marketing costs for Post-it Flags and Post-it Notes.
D)preempt a competitive move by Sanford's Sharpie to introduce a similar product.
E)help college students with their studying.

Accepted Answer

The answer of The purpose of the introduction of 3M...

Question 13

Relationship marketing refers to
A)the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
B)the belief that it is easier and less expensive to find new customers than to retain old ones.
C)the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
D)the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E)exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.

Accepted Answer

Relationship marketing is the process of building and maintaining long-term relationships with customers, employees, suppliers, and other partners for mutual benefit. This involves creating customer loyalty through personalized communication, exceptional service, and ongoing customer support. The goal is to create a strong bond between the organization and its customers, leading to increased customer satisfaction, repeat business, and positive word-of-mouth referrals. It is different from transactional marketing, which focuses on maximizing immediate sales and does not prioritize building long-term relationships.

Question 14

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with
A)the best airport experience.
B)the most convenient flight schedules.
C)the best price for the distance traveled.
D)the best in-flight service.
E)the greatest sense of personal safety.

Accepted Answer

The passage specifically mentions the great food, friendliness of the flight attendants, and comfortable seating as examples of customer value provided by Singapore Air. These are all aspects of the in-flight service, making D the best choice. While other factors such as airport experience, flight schedules, price, and personal safety may also contribute to customer value, they are not explicitly mentioned in the passage in relation to Singapore Air's offerings.

Question 15

According to the textbook, Starbucks provides its customers with the best
A)branding.
B)products/services.
C)price.
D)customer service.
E)availability.

Accepted Answer

The textbook states that Starbucks provides its customers with the best products/services. This is evident in the company's commitment to sourcing high-quality coffee beans, offering a variety of beverages and food items, and continuously introducing new products to meet changing consumer preferences.

Question 16

-As shown in the ad above, U.S. Bank delivers customer value by providing its customers with the best
A)assortment.
B)products/services.
C)price.
D)customer service.
E)availability.

Accepted Answer

The ad emphasizes the importance of U.S. Bank's customer service, stating that they are "committed to giving you the personal attention and exceptional service you deserve." Therefore, the best choice for delivering customer value in this ad is D) customer service.

Question 17

Publix Supermarkets and The Little Clinic signed an exclusive agreement, placing small walk-in health clinics inside selected stores. Publix customers can have simple medical needs addressed in a convenient and familiar environment seven days a week and pick up their prescriptions from the pharmacy without leaving the store. This is an example of
A)supplier management.
B)customer valuation.
C)societal marketing.
D)market aggregation.
E)relationship marketing.

Accepted Answer

This is an example of relationship marketing, as Publix is providing added convenience and value to their customers by partnering with The Little Clinic to offer healthcare services in their stores. By doing so, Publix is strengthening their relationship with their customers and enhancing their overall shopping experience.

Question 18

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated enough points, he can trade his points in for a free night's stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is
A)relationship marketing.
B)customer satisfaction promotion.
C)customer relationship management.
D)customer valuation.
E)supplier-consumer partnership.

Accepted Answer

Relationship marketing links the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.

Question 19

An inventor for 3M, David Windorski questioned dozens of students about how they study. They told him
A)that Scotch tape had outgrown its usefulness to students.
B)to make new products that have higher quality.
C)that the average backpack was already too heavy.
D)that it would be reasonable to put Post-it Flags together with a highlighter.
E)to determine the ratio of 3M products to study aid products of other competitors.

Accepted Answer

The students suggested combining Post-it Flags with a highlighter, indicating a need for a new product that could improve their studying experience. This response aligns with the inventor's goal of creating new study aid products for students. The other options (A, B, C, E) are not relevant to the students' suggestions or the inventor's goal.

Question 20

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?
A)In his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market.
B)Paralegals were initially the intended target market for the Post-it Flag Highlighter.
C)David Windorski, a 3M inventor, also developed the Post-it Flag Pen for the office worker segment.
D)The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line.
E)In development of the Post-it Flag Highlighter, David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.

Accepted Answer

David Windorski, a 3M inventor, developed the Post-it Flag Pen for the office worker segment, which is an accurate statement about 3M's marketing program for Post-it Flag Highlighters.

Quiz 1: Creating Customer Relationships and Value Through Marketing

Which of the following statements about relationship marketing is most accurate?

A marketing program refers to

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as a(n) __________.

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

According to the textbook, Target has been successful by offering consumers the best

Market segments refer to

The purpose of the introduction of 3M Post-it Flag Highlighters was to

Relationship marketing refers to

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

According to the textbook, Starbucks provides its customers with the best

-As shown in the ad above, U.S. Bank delivers customer value by providing its customers with the best

An inventor for 3M, David Windorski questioned dozens of students about how they study. They told him

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?