35) When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing. A) customer-driven B) customer-driving C) societal D) production E) product Answer: B Diff: 2 Page Ref: 11 Skill: Concept Objective: 1-3
36) The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________. A) short-run costs and profits B) short-run ethics C) long-run welfare D) immediate health E) value propositions Answer: C Diff: 2 Page Ref: 11 AACSB: Ethical Reasoning Skill: Concept Objective: 1-3
37) Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being? A) marketing B) selling C) product
D) societal marketing E) equity Answer: D Diff: 1 Page Ref: 11 AACSB: Ethical Reasoning Skill: Concept Objective: 1-3
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38) The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________. A) human welfare B) want satisfaction C) company profits D) short-run wants E) long-term needs Answer: C Diff: 2 Page Ref: 11 AACSB: Ethical Reasoning Skill: Concept Objective: 1-3
39) The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
A) promotion mix B) product mix C) marketing mix D) TQM
E) marketing effort Answer: C Diff: 2 Page Ref: 12 Skill: Concept Objective: 1-3
40) Of the following, which is the most important concept of modern marketing? A) customer relationship management B) societal marketing
C) consumer-generated marketing D) properly trained salespeople E) low prices Answer: A Diff: 2 Page Ref: 13 AACSB: Communication Skill: Concept Objective: 1-4
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41) Building, keeping, and growing profitable relationships by delivering customer value and satisfaction is called ________. A) customer lifetime value B) customer perceived value
C) customer relationship management D) database marketing E) societal marketing Answer: C Diff: 1 Page Ref: 13 Skill: Concept Objective: 1-4
42) Customer-perceived value is determined by a customer's ________ of the benefits and costs of a market offering relative to those of competing offers. A) personal assessment B) rational expectations C) accurate assessment D) objective evaluation E) emotional understanding Answer: A Diff: 2 Page Ref: 13 Skill: Concept Objective: 1-4
43) It is most accurate to say that customers buy from stores and firms that offer which of the following?
A) the highest value for the dollar
B) the highest customer-perceived value C) the highest level of customer satisfaction D) the most attractive company image E) the most concern for society's interests Answer: B Diff: 3 Page Ref: 13 Skill: Concept Objective: 1-4
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44) ________ is defined as the customer's evaluation of the differences between all the benefits and all the costs of a marketing offer relative to those of competing offers. A) Customer equity
B) Customer satisfaction C) Customer evangelism D) Customer-perceived value E) Marketing myopia Answer: D Diff: 1 Page Ref: 13 Skill: Concept Objective: 1-4
45) Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service? A) satisfied customers B) customer evangelists C) butterflies D) full partners E) social customers Answer: B Diff: 2 Page Ref: 13 AACSB: Communication Skill: Concept Objective: 1-4
46) Which of the following strategies would a company most likely use to increase customer satisfaction?
A) decreasing the variety of offered services B) demarketing C) lowering prices
D) \
E) limiting customer experiences with a brand Answer: C Diff: 3 Page Ref: 16 Skill: Concept Objective: 1-4
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47) A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of a ________.
A) frequency marketing program B) basic customer relationship C) club marketing program
D) partner relationship management technique E) structural benefit Answer: A Diff: 2 Page Ref: 16 AACSB: Reflective Thinking Skill: Concept Objective: 1-4
48) iRobot, the makers of Roomba, have involved their customers in product development, marketing, and technical support in an effort to foster which of the following? A) basic relationships B) customer delight
C) selective relationship management D) customer-perceived value E) frequency marketing programs Answer: B Diff: 3 Page Ref: 14-15 Skill: Concept Objective: 1-4
49) In which of the following situations has a company most actively turned its consumers into marketing partners?
A) American Airlines awards frequent flyer points to returning customers. B) Paige Premium Denim jeans provide a superior quality and a perfect fit.
C) iRobot invites enthusiastic Roomba owners to develop and share their own programs and uses for the company's robotic vacuum.
D) Best Buy distinguishes between its best customers, called angels, and its less profitable customers, called demons, stocking merchandise to appeal to separate groups of its angels. E) Toyota develops a marketing presence on social networks and other online communities. Answer: C Diff: 2 Page Ref: 14 AACSB: Reflective Thinking Skill: Concept Objective: 1-4
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