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Exam 14: Marketing: Building Customer and Stakeholder Relationships

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Question 41

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Marketers use surveys to gather secondary data.

A) True
B) False

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Question 42

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All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items.The firm realizes that the number of buyers in this segment of the collectible market is small.However,they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service.All-Star's approach is an example of:

A) competitive benchmarking.
B) niche marketing.
C) relationship targeting.
D) target positioning.

E) B) and C)
F) All of the above

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Question 43

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The two major types of markets in business are the consumer market and the producer market.

Mike's Auto Repair works hard to find out what customers want and how to best meet their needs.Based on feedback from customers,Mike now provides a written estimate before any work is done,offers a more comprehensive guarantee than competitors,and calls customers after servicing their cars to make sure they are satisfied.These efforts suggest Mike is applying the concepts of customer relationship management.

Which of the following is not consistent with relationship marketing?

Unlike advertising,which is part of the promotional component of the marketing mix,personal selling is considered to be part of the distribution function.

The most dramatic global change affecting a firm's marketing environment is probably the growth of the Internet.

The idea behind customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty.

Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

Because the marketing concept emphasizes a profit orientation,marketing has not been used successfully by non-profit organizations.

__________ consists of information that has already been researched by others and published in journals or books,or has been made available online.

__________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

Brand building strategies are more important to not-for-profit businesses than for profit businesses.

Marketing involves developing and promoting a firm's products,but all distribution decisions are handled by a firm's transportation managers.

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.

The strategy of focusing on small but profitable market segments is called micro marketing.

Consumer decisions regarding the products they buy are often influenced by their nationality,religion,or ethnic origin.Marketers realize that the consumer decision-making process is impacted by the consumers' ________.

A firm gathers ___________ data by conducting surveys,interviewing customers,or mailing out questionnaires.

Marketing research is a process that most firms complete once a year,in order to gather information for their budgeting process.

Test marketing is the process of testing products among potential users.