Question 1

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 2

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, which includes high-quality coffee, beverages, and food options.

Question 3

In the nonprofit world of the performing arts,box office technology has essentially remained the same since the 1980s.A company called Tessitura is trying to change that.Tessitura is able to track every transaction with its patrons in one database.The information collected includes ticket purchases,fund-raising,volunteering,and gift shop purchases that will help symphonies,operas,and theaters develop customer profiles in order to tailor their sales messages to specific individuals.In other words,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

Tessitura's technology allows for the development of customer profiles, which is a key aspect of relationship marketing. This enables arts groups to tailor their sales messages to specific individuals based on their interests and past behaviors.

Question 4

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 5

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

The answer of The linking of the organization to its...

Question 6

Pending federal legislation will require all online retailers to collect state sales taxes from customers.This would affect online sellers such as Virtual Vineyards,which now only collects state sales taxes from customers who reside in California-its home state.This pending legislation would be an example of which environmental force?
A)social
B)economic
C)technological
D)competitive
E)regulatory

Accepted Answer

The pending federal legislation is a regulatory force because it involves a potential change in government regulations and laws that would affect Virtual Vineyards and other online retailers.

Question 7

Local newspaper readership has declined significantly in recent years.Not only are traditional newspapers losing subscribers,they are also losing advertisers.To combat these trends,many newspaper publishers now offer online versions of their printed newspapers.This is MOST LIKELY a response to which environmental force?
A)economic,since few can afford a newspaper today
B)competitive,resulting from new,smaller local newspapers that are flourishing
C)technological,since high-speed printing presses have become more easy to use
D)social,resulting from changing consumer preferences for information delivered online
E)regulatory,since the government provides tax incentives for paper-based products

Accepted Answer

The decline in local newspaper readership and advertisers is a result of changing consumer preferences for information being delivered online. To combat this trend, many newspaper publishers are now offering online versions of their printed newspapers. Therefore, this is most likely a response to the social environmental force.

Question 8

The unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price is called
A)customer value.
B)target marketing.
C)benefit proposition.
D)value-based marketing.
E)a customer value proposition.

Accepted Answer

The answer of The unique combination of benefits received by...

Question 9

According to the textbook,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

According to the textbook, U.S. Bank delivers customer value by providing excellent customer service, which includes personalized attention, responsiveness, and knowledgeable staff. This helps to build trust and loyalty among customers, ultimately enhancing customer satisfaction and retention.

Question 10

Customer value refers to
A)the need of a customer to receive the highest quality product at the lowest possible price.
B)the least expensive product that will provide it with most of the basic benefits.
C)a statement that,before product development begins,identifies (1)a well-defined target market; (2)specific customers' needs,wants,and preferences;and (3)what the product will be and do to satisfy consumers.
D)the unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price.
E)the cluster of benefits that an organization promises customers to satisfy their needs.

Accepted Answer

Customer value refers to the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. This definition encompasses the overall experience that a customer receives from a product or service, including both tangible and intangible benefits. It goes beyond simply offering a low price or a basic product and focuses on meeting the specific needs and preferences of the target market.

Question 11

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

The exclusive agreement between Publix Supermarkets and The Little Clinic is an example of relationship marketing. This is because both companies have come together to provide added convenience for Publix customers by offering small walk-in health clinics inside selected stores. This initiative will help establish a closer relationship between Publix and its customers by providing added value through health care services.

Question 12

With today's smartphones,one can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.Improved new features are added with each smartphone introduced by Apple,Samsung,BlackBerry,and the like.As a result,existing customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire.This increase in demand is due mostly to changes in __________,an environmental force.
A)competition
B)social culture
C)technology
D)regulations
E)the economy

Accepted Answer

The increase in demand for new smartphones is due to changes in technology as new features and improvements are added to each new model introduced by different brands.

Question 13

Which of the following statements about customer value is MOST ACCURATE?
A)Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc. ),regardless of the price.
B)Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)Research suggests that firms can be most successful by being all things to all consumers.
D)It is impossible to place a dollar value on a loyal,satisfied customer.
E)To create value for targeted buyers,firms must build long-term relationships with them.

Accepted Answer

Building long-term relationships with targeted buyers is essential in creating customer value because it allows firms to better understand their customers' needs and preferences, which in turn enables them to provide tailored benefits that meet their customers' expectations. Additionally, by building long-term relationships, firms can cultivate customer loyalty, which is highly profitable in the long run as loyal customers are more likely to make repeat purchases and recommend the brand to others.

Question 14

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 refers to building and maintaining long-term relationships with customers, employees, suppliers, and other partners for mutual benefits. It involves creating loyal customers by providing them with personalized attention and satisfying their needs and wants. Relationship marketing aims to create customer lifetime value by retaining existing customers rather than just acquiring new ones.

Question 15

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?
A)best product/service
B)best customer service
C)best value
D)best assortment
E)best price

Accepted Answer

Starbucks Via Ready Brew Refreshers are designed to offer a high-quality, convenient product that aligns with Starbucks' reputation for premium coffee and beverages, thus focusing on delivering the best product/service.

Question 16

A growing trend to "Buy American" has caused U.S.automakers to increase political pressure on Washington to pass legislation for more restrictive quotas on Japanese car imports.In addition,a decline in the value of the U.S.dollar would be instrumental in Toyota's decision to build a manufacturing plant in the United States instead of continuing to export cars from Japan.If Toyota builds the plant,its decision would reflect
A)a reactive strategy that would impact the competitive environmental force.
B)a proactive maneuver to manipulate and impact the social environmental force.
C)a positive result from regulatory and economic environmental forces.
D)a positive response to a technological environmental force.
E)a negative impact as a result of adverse competitive,regulatory,and technological environmental forces.

Accepted Answer

Toyota's decision to build a manufacturing plant in the United States would be a positive result from regulatory and economic environmental forces. The "Buy American" trend and pressure from U.S. automakers for more restrictive quotas on Japanese car imports are examples of regulatory environmental forces, while the decline in the value of the U.S. dollar is an economic environmental force. By building a plant in the United States, Toyota would be able to mitigate some of these pressures and potentially benefit from incentives and subsidies provided by the U.S. government.

Question 17

As shown in the ad above,Target has been successful by offering consumers the best
A)experience.
B)products/services.
C)customer service.
D)availability.
E)price.

Accepted Answer

The ad emphasizes Target's commitment to low prices, suggesting that this is a key factor in the store's success. While the other factors listed (experience, products/services, customer service, availability) are also important, the focus of the ad is clearly on price.

Question 18

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

Relationship marketing is characterized by the development of long-term, personal relationships between an organization and its customers, focusing on customer retention and satisfaction rather than short-term sales.

Question 19

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?
A)social
B)economic
C)technological
D)competitive
E)regulatory

Accepted Answer

The sponsorship of "women-only" networking events by consulting firms is an example of a social environmental force. This demonstrates an increased awareness and emphasis on diversity and gender equality in the workplace.

Question 20

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 clearly states that Singapore Air creates customer value by providing great food, friendly flight attendants, and comfortable seating during the flight. Therefore, the best choice is D, which states that Singapore Air provides the best in-flight service.

Quiz 1: Creating Customer Relationships and Value Through Marketing

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

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

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 unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price is called

According to the textbook,U.S.Bank delivers customer value by providing its customers with the best

Customer value refers to

Which of the following statements about customer value is MOST ACCURATE?

Relationship marketing refers to

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?

As shown in the ad above,Target has been successful by offering consumers the best

Which of the following statements about relationship marketing is MOST ACCURATE?

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

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