Question 1

Which of the following best explains why consumers have greater power and control in today's marketplace?
A.	The production concept and competition have lowered prices.
B.	Implementation of the product concept has resulted in continually improving products.
C.	Customer-driven marketing creates products and services that meet customers' future needs.
D.	More companies are implementing social marketing and weighing long-term costs and benefits.
E.	Through new communication technologies, customers have more information about brands and a wealth of platforms for airing and sharing their views with other consumers.

Accepted Answer

The answer of Which of the following best explains why...

Question 2

In today's more connected world,marketing should be done by ________ employees in an organization.

Accepted Answer

The answer of In today's more connected world,marketing should be...

Question 3

____________ refers to the brand exchanges create by consumers themselves-both invited and uninvited-through which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers.

Accepted Answer

The answer of ____________ refers to the brand exchanges create...

Question 4

Which of the following has not contributed to the deeper,more interactive nature of today's customer relationships?

Accepted Answer

Traditional advertising is generally a one-way communication method where businesses broadcast their messages to a wide audience. Unlike email, websites, online social networks, and video sharing platforms, traditional advertising does not inherently facilitate interactive or deep relationships with customers.

Question 5

Through ________,many companies today are strengthening their connections to all partners,from providers of raw materials to components to final products that are delivered to final buyers.

Accepted Answer

The answer of Through ________,many companies today are strengthening their...

Question 6

Greater consumer control means that companies must rely more on marketing by ________ than by ________.

Accepted Answer

The answer of Greater consumer control means that companies must...

Question 7

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50 000 of insulated wire per year.Dekko is using ________.

Accepted Answer

The answer of Members of the sales team at Dekko...

Question 8

When an airline goes after a "share of travel" from its customers,it is attempting to increase ________.

Accepted Answer

The answer of When an airline goes after a "share...

Question 9

To create customer value and build strong customer relationships,today's marketers know they cannot go it alone; therefore,they practise ________.

Accepted Answer

The answer of To create customer value and build strong...

Question 10

One of Seagull Terrace's regular guests has created a blog devoted to her summer stays at the resort.This has the potential to attract new guests to Seagull Terrace and is an example of ____________.

Accepted Answer

The answer of One of Seagull Terrace's regular guests has...

Question 11

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

Accepted Answer

Consumer-generated marketing refers to marketing activities that are initiated by consumers rather than by the company or brand itself. The "Crash the Super Bowl" contest by PepsiCo's Doritos brand is an example of this, as it involves consumers creating their own advertisements for the brand, with the winning ad being broadcast during the Super Bowl. This initiative directly involves consumers in the marketing process, making it a clear example of consumer-generated marketing.

Question 12

Beyond simply retaining good customers,marketers want to constantly increase their "share of customer." What does this mean in marketing terms?

Accepted Answer

Increasing "share of customer" means that marketers aim to capture a larger portion of a customer's spending within the product categories they offer. This is distinct from increasing overall market share, which is about outperforming competitors across the entire market.

Question 13

Stew Leonard,the owner of a highly successful regional supermarket chain,reacts adversely to losing a single customer sale.He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he or she remains in the area.Stew Leonard's concern is an illustration of which of the following?

Accepted Answer

Stew Leonard's concern reflects the concept of Customer Lifetime Value (CLV), which is the total worth to a business of a customer over the whole period of their relationship. It's an important metric because it encourages businesses to shift their focus from short-term transactions to the long-term health of their customer relationships.

Question 14

The final step in the marketing process is ________.

Accepted Answer

The answer of The final step in the marketing process...

Question 15

________ is one of the best ways to increase share of customer.

Accepted Answer

The answer of ________ is one of the best ways...

Question 16

Harley-Davidson sponsors the Harley Owners Group (H.O.G.)worldwide clubs,which gives Harley owners "an organized way to share their passion and show their pride." This is an example of which of the following?

Accepted Answer

The Harley Owners Group (H.O.G.) is an example of a club marketing program, where companies create clubs or communities to foster closer relationships and loyalty among customers with shared interests.

Question 17

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of a ________.

Accepted Answer

The answer of A room upgrade offered by a hotel...

Question 18

Toyota works closely with carefully selected suppliers to improve quality and operations efficiency and with franchise dealers to provide top-grade sales and service support that will bring more customers and keep them coming back.What type of management is Toyota practising?

Accepted Answer

The answer of Toyota works closely with carefully selected suppliers...

Question 19

A marketing relationship in which customers,empowered by today's new digital technologies,interact with companies and with each other to shape their relationships with brands is called ________.

Accepted Answer

The answer of A marketing relationship in which customers,empowered by...

Question 20

Elisandra,a marketing manager at a regional chain restaurant,has decided to sponsor a contest calling for customers to create commercials for the restaurant.Winning entries will be posted on the organization's home page.Elisandra's plan is an example of ________.

Accepted Answer

The answer of Elisandra,a marketing manager at a regional chain...

Quiz 1: Marketing: Creating and Capturing Customer Value