Strategic Marketing Unit 1

Which of the following is the best description of the marketing mix:

A combination of the four elements of marketing

Which of the following is not an example of a customer relationship management initiative?

A new bonus system for the sales staff

Which of the following things might a marketer do to achieve the company's pricing objective of raising the product's value in the customer's eye:

Ask a higher price for the product

Wachovia has policies that guide operational behavior. Employees are expected to conduct business within those guidelines. This is an example of which aspect of business buying behavior?

Business ethics

A business improves its technology so it can better meet customer wants and needs. This results from a business activity known as

Business process management

Dunkin' Donuts purchases the same coffee from the same supplier on a regular basis. It has established a contract and purchases the coffee in large quantities. This is an example of which aspect of business buying behavior?

Buying situations

When a business evaluates its business processes to make them more efficient and effective, it can improve its relationships with customers. This process is called

Continuous improvement

When a business communicates customer-centric values and ideals to its employees on a consistent basis, it is developing its

Corporate culture

In the U.S. it is appropriate to greet others by shaking hands. This is an example of which factor affecting consumer buying behavior?

Cultural

Customer relationship management increases sales and profits by increasing

Customer loyalty

A local car dealership is sending out a survey to all recent business purchasers of new cars. The purpose of the survey is to measure satisfaction and perception of the buying experience. This is an example of which aspect of business buying behavior?

Customer service

A business's organizational structure can sometimes have a negative effect on customer relationship management because

Different departments have different methods

Our economy has shifted from a service economy to a(n) _________ economy.

Experience

Alex plans to purchase a car. He spends much time researching the various brands, makes, and models, of cars in his price range. This is an example of which category of consumer decision making?

Extensive

Which of the following is the most likely obstacle for a marketer to encounter:

Government regulations might change.

For the strategy of conducting customer surveys, with tactics including contacting customers and tabulating survey results, which of the following is the goal:

Improving this year's customer satisfaction by 7% over last year's ratings

A local hospital contracts with premiere landscaping service to maintain its lawn and gardens. This is an example of which category of business customers?

Institutions

Of the following, which is a strategy for the goal of increasing this year's website sales by 9% over last year's sales?

Letting people know the web address

Jim typically buys Diet Coke soda. However, friends have started making comments about his boring soda selection. Jim decides to try a new soda, but wants to read all of the nutritional facts before making his choice. This is an example of which category of consumer decision-making?

Limited

Norma goes to Food Lion to purchase Country Crock margarine, the brand she always purchases. Because the store is out of her preferred brand, she compares brands and selects one based on low cholesterol. This is an example of which factor affecting consumer buying behavior?

Limited

Customer relationship management can help a business to identify its

Most valuable customers

In the modern business world, a growing number of interactions between businesses and customers are taking place

On the internet

What component of customer relationship management often "makes or breaks" a business's program?

People

Pillsbury's Slice and Bake cookie dough targets working moms between the ages of 28 and 42 who are busy and pressed for time. It places ads for the cookie dough in Working Mother magazine. This is an example of which factor affecting consumer buying behavior?

Personal

Balancing value and satisfaction for the customer is part of which element of marketing?

Price

Which of the following is no longer a consideration in customers' buying decisions for many products:

Price

Homewood Homebuilders purchases lumber to build homes. The home builder is an example of which category of business customers?

Producers

Which element of marketing refers to the various types of communication that marketers use to inform, persuade, or remind customers of their products?

Promotion

Having clear customer relationship management goals before putting a program into place helps businesses to avoid

Purchasing irrelevant technology

Alesha is familiar with the Citgo brand of gas and purchases from the same gas station each time. This is an example of which category of consumer decision making?

Routine

Which of the following is a tactic for the strategy of training customer-service staff to reach the goal of improving this year's customer service by 15% over last year's:

Scheduling customer-service training dates

Franklin is a marketer who selects what he thinks is the best strategy. What should he do next?

Set aside the needed funds

Christian Louboutin is famous for expensive designer shoes with a red sole. Many celebrities enjoy wearing his shoes with short dresses to show off the red sole. Ashley decides to buy a pair of these shoes based on this trend. This is an example of which factor affecting consumer buying behavior?

Social

Which of the following types of information does a company need customer input to obtain?

Suggestions for new products

Many people make the mistake of thinking that customer relationship management refers solely to

Technology

The main difference between customer relationship management and customer experience management is that CRM focuses on

The business itself

Which of the following is a benefit of customer relationship management:

The opportunity to create targeted marketing campaigns

Which of the following is an important characteristic of marketing tactics:

The tactics should line up with marketing strategies.

Customers tend to look at a business as a whole despite the number of _________ they experience.

Touch points

In the past, customer relationship management was used mainly as a way to

Track customer information

Which of the following is a common customer relationship management practice:

Training employees

Which of the following questions might marketers ask when they are working on the product element of marketing:

What level of quality should be produced?

To get a selected product in the right place at the right time, marketers often ask themselves which of the following questions:

Where should we make our product available?

A main goal of customer experience management is creating

Word-of-mouth promotion

Marketers plan where they need to go and how to get there efficiently in order to

achieve satisfying connections.

Sawyer is a marketer who is planning his strategy. He most likely wants to choose a route that is

efficient

A firm's strategy is important because it shows

how its goal will be reached.

To select the best strategy available to them, marketers should consider

how the marketing concept applies to their situation.

If a marketer changes one marketing mix element, s/he should expect that the __________ will also change.

other elements

Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the __________ element of the marketing mix.

place

Before customizing the marketing mix, marketers should

select the strategy.

A goal can be evaluated to determine its

success