Test Answers
1. Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. a. a strong customer focus b. a relentless pursuit of customer needs c. customer relationships built by everyone in the organization d. all of the above e. none of the above
(Answer: d; p. 5; Moderate)
2. _____ are key building blocks for developing and managing customer relationships. f. Consumer expectations and customer satisfaction g. Customer choices and product offers h. Product performance and customer value i. Customer value and customer satisfaction j. Strategic plans
(Answer: d; p. 8; Challenging)
3. The _____ starts with the factory, focusing on the company’s existing products; it calls for heavy selling and promotion to obtain profitable sales. k. marketing concept l. production concept m. product concept n. selling concept o. company advertising
(Answer: d; p. 10; Moderate)
4. The goal of customer relationship management is to produce _____. p. revenues q. profits r. customer equity s. a database of customers t. all of the above
(Answer: c; p. 21; Moderate)
5. The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer _____. u. short-run costs and profits v. short-run ethics w. long-run welfare x. health y. value propositions
(Answer: c; p. 12; Moderate)
6. _____ is an important concept when we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. z. Heuristics {. Net profit |. Customer lifetime value }. Relationship marketing ~. Market share
(Answer: c; p. 20; Moderate)
7. After surveying all
(Answer: d; p. 5; Moderate)
2. _____ are key building blocks for developing and managing customer relationships. f. Consumer expectations and customer satisfaction g. Customer choices and product offers h. Product performance and customer value i. Customer value and customer satisfaction j. Strategic plans
(Answer: d; p. 8; Challenging)
3. The _____ starts with the factory, focusing on the company’s existing products; it calls for heavy selling and promotion to obtain profitable sales. k. marketing concept l. production concept m. product concept n. selling concept o. company advertising
(Answer: d; p. 10; Moderate)
4. The goal of customer relationship management is to produce _____. p. revenues q. profits r. customer equity s. a database of customers t. all of the above
(Answer: c; p. 21; Moderate)
5. The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer _____. u. short-run costs and profits v. short-run ethics w. long-run welfare x. health y. value propositions
(Answer: c; p. 12; Moderate)
6. _____ is an important concept when we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. z. Heuristics {. Net profit |. Customer lifetime value }. Relationship marketing ~. Market share
(Answer: c; p. 20; Moderate)
7. After surveying all