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Customer Relationships and Value
Customer Relationships and Value MCQs
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Guerrilla Marketing is defined as:
monkeying with marketing ideas
declaring war on all competition
use of inexpensive nontraditional promotional methods
ambushing the competition
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The future of organizations rely on the in-depth understanding of:
how to correctly patent a product
their own retail operations
how to advertise their products
their customer wants and needs
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Common sense usually helps you in analyzing
future opportunities
marketing problems
what price to charge
what segment to drop
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The book points out that you are already a marketing expert because:
being a consumer you have been involved already
it is really only common sense
as a college student you study marketing
there is nothing real to learn
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You lose the right to your trademark when:
you can’t pay the taxes on the trademark
others use the same name
the public use the name as a generic term
you stop producing the product
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The American Marketing Association states that "marketing is":
advertising and selling
the process of finding buyers
the execution of a precise sales plan
a process of planning and executing
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The marketing department is responsible for facilitating relationships, partnerships, and _________ with the organizations customers, its shareholders...
allocations
alliances
marriages
friendships
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These are four requirements for marketing to occur which are:
an action sales group to be involved
a promotion campaign to create awareness
a retail store that is accessible
a way for the parties to communicate
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New Coke failed as a new product because:
Coke failed to calculate consumers’ wants and needs
Stores were reluctant to put it on their shelves
Competition was a serious problem
The formula was flawed and could not be consistently duplicated
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Marketing should strive to satisfy consumer _____________:
dreams and aspirations
ability to pay
goals and objectives
needs and wants
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The four P’s of the marketing mix are:
personnel, priorities, placement, and profits
promotion, product, personnel, and place
product, place, distribution and advertising
product, promotion, price and place
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Environmental factors can considered by some to be uncontrollable factors and can serve as:
accelerators or brakers on marketing
launching pads for SIC codes
Strategic Business Unit definitions
Sources for funding future ventures
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Research indicates businesses can’t succeed by:
just being good with customer
being all things to all people
only using a push strategy
only using a pull strategy
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The hallmark of developing and maintaining effective customer relations is called:
value enhancement marketing
multi-level marketing
customer everyday low pricing
relationship marketing
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Bringing sellers and buyers more closely together by shortening the channel of distribution is called:
disintermediation
channelization
trunkation
personal marketization
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The Sales Era resulted from:
an expanding population
an effort to personalize sales
the firms realizing they could produce more goods
too much competition
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The moral principles and values that govern actions and decisions are called:
social responsibilities
micromarketing problem
green marketing
ethics
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The people who use goods and services are called what?
ultimate consumer
potential markets
primary buyer
ultimate buyer
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In our free-enterprise society there are specific groups that benefit from effective marketing: consumers who buy, organizations that sell and _______...
society as a whole
sales groups
the local governments
industries
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The benefit or customer value received by users of a product is an indication that marketing creates ________:
place utility
possession utility
time utility
overall utility