Chapter 13

The idea behind customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty. True or false?

True

The marketing process includes decisions about the best way to get the product to the consumer. True or false?

True

The "marketing mix" involes four factors in the marketing process. List the four (4) factors of the "marketing mix," also referred to as the four "P's" of marketing.

1. Product 2. Price 3. Place 4. Promotion

A firm's marketing mix consists of four major components, which are generally referred to as the four A. Ps. B. keys. C. intangibles. D. persuaders.

A. Ps.

The most important technological change likely to affect the marketing success of many firms is the A. growth of consumer databases, blogs, and social networking sites. B. speed of service from faster check-outs. C. level of computer literacy of the target market. D. number of computers in use in the home.

A. growth of consumer databases, blogs, and social networking sites.

Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers' A. subcultures. B. four Ps. C. cognitive behaviors. D. market position.

A. subcultures.

Which statement about the B2B market is true? A. Promotion efforts are focused mostly on advertising. B. Industrial buyers are usually large. C. Industrial buyers tend to be more emotional in their purchasing decisions. D. The size of the market is smaller than the consumer market.

B. Industrial buyers are usually large.

Firms that have adopted __________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time A. nonprofit marketing B. customer relationship management C. management by objectives D. the marketing mix

B. customer relationship management

B2B markets tend to be A. dominated by marketing intermediaries. B. geographically concentrated. C. characterized by the presence of a large number of small buyers. D. more emotional than consumer markets.

B. geographically concentrated.

The two major types of markets are the A. primary market and the secondary market. B. B2B market and the C2C market. C. consumer market and the B2B market. D. target market and the niche market.

C. consumer market and the B2B market.

The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements. A. niche marketing B. mass marketing C. relationship marketing D. segment marketing

C. relationship marketing

Which statement is most consistent with today's views on effective marketing? A. "There's a sucker born every minute." B. "Find out what your competition does and do it better." C. "A good promotional campaign can sell anything." D. "Learn about your customers and exceed their expectations."

D. "Learn about your customers and exceed their expectations."

What is a marketing strategy in which the focus is on small but profitable market segments? A. micro targeting B. narrowcast marketing C. one-to-one D. niche marketing

D. niche marketing

Marketing research usually begins with secondary data because it is more accurate and more relevant than primary data. True or false?

False

The tremendous demand for consumer goods and services after World War II helped launch the production era of marketing. True or false?

False

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have a value for customers, clients, partners, and society at large. True or false?

True