Marketing exam 1

________ are customers who show low potential profitability and little projected loyalty.

Strangers

Consumers' needs and wants are fulfilled through ________.

market offerings

The ultimate aim of customer relationship management is to ________.

produce high customer equity

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

production concept

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

target marketing

Customers who are classified as true believers ________.

tell others about their good experiences with a company

A customer who is both loyal and profitable is referred to as a ________.

true believer

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them.

attraction

Carla, a team leader in charge of customer relationship management, is planning strategies to improve 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?

barnacles

Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get to know them personally. Instead, Tide creates engagement and relationships through brand-building advertising, Web sites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers?

basic relationships

Efforts to convert ________ into loyal customers are rarely successful.

butterflies

The final step in the marketing process is ________.

capturing value from customers

The selling concept holds that ________.

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

Ritz-Carlton is fervently dedicated to anticipating customers' slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel or the blinds open upon arrival. An amazing 95 percent of departing guests report that their stay has been a truly memorable experience. This is an example of ________.

customer delight

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and the National Highway Traffic Safety Administration is an example of a marketing offering for a(n) ________.

idea