Question 1

Company X carries organizational and office supplies and follows the selling concept.Explain how Company X may lose sight of customer relationships with its marketing orientation.

Accepted Answer

The answer of Company X carries organizational and office supplies...

Question 2

Explain why electronics and pharmaceuticals manufacturers may use customer-driven marketing.

Accepted Answer

The answer of Explain why electronics and pharmaceuticals manufacturers may...

Question 3

Afia,a team leader in charge of customer relationship management,is planning strategies for improving the profitability of her firm's least profitable but loyal customers.She is also examining methods for "firing" customers in this group who cannot be made profitable.To which of the following customer relationship groups do these customers belong?

Accepted Answer

Barnacles are customers who are loyal but not profitable. Afia's strategies to improve profitability or consider ending relationships with these customers align with the characteristics of barnacles.

Question 4

Customers can be classified into four relationship groups according to their profitability and projected loyalty.Which type of customer has the highest profit potential and strong loyalty?

Accepted Answer

True friends are customers with both high profitability and strong loyalty, making them highly valuable to businesses over the long term.

Question 5

The marketing team at Bead Beautiful,a line of jewellery targeted at pre-teenage girls,is meeting to formulate the products' value proposition.What should team members consider as they define a value proposition for Bead Beautiful?

Accepted Answer

The answer of The marketing team at Bead Beautiful,a line...

Question 6

Which of the following is currently the fastest-growing form of marketing?

Accepted Answer

Online marketing is currently the fastest-growing form of marketing due to the increasing number of internet users worldwide and the effectiveness of digital platforms in targeting specific audiences.

Question 7

Which of the following defines the total combined customer lifetime values of all of a company's current and potential customers?

Accepted Answer

Customer equity is the correct answer because it refers to the total of all the lifetime values of a company's current and potential customers, essentially measuring the company's future revenue potential from its customer base.

Question 8

A church targeting different demographic groups to increase attendance is an example of ________

Accepted Answer

The answer of A church targeting different demographic groups to...

Question 9

The ultimate aim of customer relationship management is to produce ________.

Accepted Answer

The answer of The ultimate aim of customer relationship management...

Question 10

Briefly compare and contrast the concepts of needs,wants,and demands,giving an example of each.Discuss how these concepts relate to marketing practices.

Accepted Answer

The answer of Briefly compare and contrast the concepts of...

Question 11

Think about suppliers and other marketing partners.A modern marketing system relies on profitable relationships all along the way.How might Walmart rely on its marketing partners in order to offer low prices?

Accepted Answer

The answer of Think about suppliers and other marketing partners.A...

Question 12

In nineteenth-century Dublin,Molly Malone sold cockles and mussels while shouting to passersby,"Alive-alive-oh." Was Molly taking an outside-in or inside-out perspective? Explain.

Accepted Answer

The answer of In nineteenth-century Dublin,Molly Malone sold cockles and...

Question 13

The ________ responsibility and environmental movements will place even stricter demands on companies in the future.

Accepted Answer

The answer of The ________ responsibility and environmental movements will...

Question 14

Amazon.com leverages relationships with its 88 million customers by offering them music,videos,gifts,toys,consumer electronics,and office products,among other items.Based on previous purchase history,the company recommends related CDs,books,videos,or other products that might interest a customer.This most directly helps Amazon.com capture a greater ________.

Accepted Answer

The answer of Amazon.com leverages relationships with its 88 million...

Question 15

What should sellers consider if they wish to avoid marketing myopia?

Accepted Answer

The answer of What should sellers consider if they wish...

Question 16

Briefly explain how and why marketers go beyond selling a product or service to create brand experiences.

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The answer of Briefly explain how and why marketers go...

Question 17

Governmental agencies have also shown an increased interest in marketing.When a local government encourages energy conservation and concern for the environment or discourages smoking,it is involved in ________.

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The answer of Governmental agencies have also shown an increased...

Question 18

A potentially highly profitable,short-term customer is a ________

Accepted Answer

The answer of A potentially highly profitable,short-term customer is a...

Question 19

Today almost every company,small and large,is affected in some way by which of the following?

Accepted Answer

Global competition affects almost every company today, regardless of size, because of the interconnected nature of markets and the ability of companies to operate internationally.

Question 20

Compare the selling and marketing concepts,listing the key components of each philosophy.

Accepted Answer

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

Quiz 1: Marketing: Creating and Capturing Customer Value