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90 Test Bank for Marketing An Introduction 5th

Canadian Edition by Armstrong Multiple Choice

Questions - Page 1

According to management guru Peter Drucker, "The aim of

marketing is to ."

1 create customer demands

2 identify customer demands

3 make selling unnecessary

4 set realistic customer expectations

5 sell products

Dollarama stores focus on serving buyers who have relatively

modest means This is an example of

1 disappointing loyal buyers

2 decreasing buyers satisfaction

3 failing to attract enough buyers

4 failing to understand their buyers' needs

5 incorrectly identifying a target market

Which of the following marketing management concepts is most closely aligned with the philosophy of continuous product

improvement and the belief that customers will choose products that offer high quality, performance, and innovative features?

1 determine how to deliver superior value

2 build profitable relationships with customers

3 use customer relationship management to create full partnerships with key customers

4 understand the marketplace and customer needs and wants

5 construct key components of a marketing program

The concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do

is the act of obtaining a desired object from someone by offering something in return

1 Selling myopia

2 Marketing management

3 Value proposition

4 Marketing myopia

5 The product concept

In addition to attracting new customers and creating transactions, the goal of marketing is to customers and grow the

company's business

1 encourage

5 societal marketing concept

are human needs as shaped by individual personality and culture

If this is the only marketing management concept adopted,

manufacturers can develop to marketing myopia?

The art and science of choosing target markets and building

profitable relationships with them is called

5 choosing a value proposition

When it comes to communicating with customers, marketers have traditionally asked the question, "How can we reach our

customers?" Because of new interactive media, effective marketers now ask:

1 "How can we apply the production concept?"

2 "How can we reach our customers and how should they reach us?"

3 "How can we apply the selling concept online?"

4 "How can we apply the selling concept using social media?"

5 "How can we apply the product concept online?"

An effective value proposition answers the question

_

1 "Why should I buy your brand rather than a competitor's?"

2 "How does your brand benefit me and society?"

3 "What are the costs and benefits of your brand?"

4 "What kind of experience will I have with products and services associated with this brand?"

5 "What are the benefits of being a loyal consumer of your brand?"

is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others

Which of the following is the most likely result of a marketing

strategy that attempts to serve all customers?

1 All customers will be delighted.

2 Customer-perceived value will be increased.

3 Customer evangelists will become unpaid salespersons for the service or product.

4 Few customers will be satisfied.

5 The company will likely need to follow up with a demarketing campaign.When backed by buying power, wants become

1 social needs

2 demands

3 physical needs

4 self-esteem needs

2 An audience

3 A group

According to the authors of your text, the concept is a

"sense and respond" philosophy rather than a "make and sell" philosophy

2 people, places, and ideas

3 products and information

4 products and experiences

5 persons, places, organizations, information, and ideas

Which of the following is an accurate description of modern marketing today?

1 Marketing is the creation of products for customers.

2 Marketing is managing profitable customer relationships.

3 Selling and advertising are synonymous with marketing.

4 Marketing involves satisfying producers' needs first.

5 Marketing is used by for-profit organizations only.

The concept calls for aggressive selling and promotion effort

The product concept says that a company should

1 improve marketing of its best products

2 market only those products with high customer appeal

3 focus on the target market and make products that meet those customers' demands

4 devote its energy to making continuous product improvements

5 make promoting products the top priority

Consumer research, product development, communication,

distribution, pricing, and service are all most accurately described

5 customer relationship management

90 Free Test Bank for Marketing An Introduction 5th Canadian Edition by Armstrong Multiple Choice

Questions - Page 2

Which of the following reflects the marketing concept philosophy?

1 "We don't have a marketing department, we have a customer department."

2 "We're in the business of making and selling superior products."

3 "We build them so you can buy them."

4 "When it's profits versus customers' needs, profits will always win out."

5 "You won't find a better deal anywhere."

Phil just started a new habit of eating once a week at Mr Sub

restaurants On average, he spends about $10 per meal Phil says,

"I'm 20 years old and I plan on eating at Mr Sub until I am 50 years old." Phil's lifetime value at Mr Sub could be best estimated by which calculation?

1 partner relationship management

2 supply chain management

3 customer-managed relationships

4 market segmentation

5 target marketing

The societal marketing concept seeks to establish a balance

between consumer short-run wants and consumer

1 short-run costs and profits

2 short-run ethics

3 long-run welfare

4 immediate health

5 value propositions

Which of the following strategies would a company most likely use

to increase customer satisfaction?

1 decreasing variety of services offered

2 lengthening the supply chain

3 lowering prices or increasing its services

4 "firing" unprofitable customers

5 limiting experiences with a brand

Which of the following best explains why consumers have greater power and control in today's marketplace?

1 The production concept and competition have lowered prices.

2 Implementation of the product concept has resulted in continually improving products.

3 Customer-driving marketing creates products and services that meet

customers' future needs.

4 More companies are implementing societal marketing and weighing long-run costs and benefits.

5 Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.

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?

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?

Customer-driven marketing is most likely to work well when

and when customers

1 a clear need exists; are difficult to identify

2 customers do not know what they want; have limited budgets

3 there are few competitors; are concerned about their long-run welfare

4 a clear need exists; know what they want

5 a want exists; cannot afford it

The set of marketing tools a firm uses to implement its marketing strategy is called the

1 supply chain management

2 direct marketing

3 partnership relationship marketing

4 customized marketing

5 deviated marketing

When the economy tightens, customer loyalty and customer

retention become for marketers

1 even more important

2 less important

3 impossible

4 long-term but not short-term goals

5 short-term but not long-term goals

Which of the following consumer products would likely be marketed using the selling concept?

The concept holds that firms must strive to deliver value

to customers in a way that maintains or improves both the

consumer's and society's well being

1 marketing

2 selling

3 product

4 societal marketing

5 equity

The final step in the marketing process is

1 capturing value from customers

2 creating customer loyalty

3 creating customer lifetime value

4 understanding the marketplace

5 designing a customer-driven marketing strategy

FedEx offers its customers fast and reliable package delivery

When FedEx customers weigh these aforementioned benefits

against the monetary and psychic costs of using the service, they are acting upon

1 loyalty

2 relationship marketing

3 customer-perceived value

4 social relationships

5 a societal marketing campaign

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests,and

the entire stream of future purchases that a customer is likely to make if he or she remains in the area This is an illustration of

1 share of customer

2 market share

3 profitability

4 customer lifetime value

5 market share maintenance

Building and maintaining profitable value-laden relationships with customers of a company is called

1 customer lifetime value

2 customer perceived value

3 customer relationship management

4 database marketing

5 societal marketing

Frequent flyer programs offered by airlines are an example of a

1 frequency marketing program

2 basic customer relationship

3 club marketing program

4 consumer-generated marketing program

5 structural benefit provided for top customers

Which of the following is an example of consumer-generated marketing?

1 Toyota's presence in online communities

2 Nike's Nike Plus running Web site

3 H J Heinz's use of brand-related consumer videos posted on video-sharing websites

4 Neiman Marcus's InCircle Rewards program for its best customers

5 The Lexus Covenant aimed at creating customer delight

It is most accurate to say that a customer will buy from the companythat offers the highest

1 value for the dollar

2 customer-perceived value

3 level of customer satisfaction

5 concern for society's interests

90 Free Test Bank for Marketing An Introduction 5th Canadian Edition by Armstrong Multiple Choice

Questions - Page 3

Which of the following has contributed to the deeper, more

interactive nature of today's customer relationships?

1 full partnerships

2 basic relationships

3 club programs

4 selective relationships

5 community relationships

Which of the following phrases reflects the marketing concept?

1 The supplier is king.

2 Marketing should be viewed as hunting and not gardening.

3 This is what I make, won't you please buy it?

4 This is what I want, won't you please make it?

5 none of the above

Pete Sanchez, a recent graduate of business school, has a differentapproach than his marketing manager, who believes in keeping customers at arm's length and using mass media advertising Pete knows that today few successful firms still practice this type of true and are instead turning to selective relationship

Your local department of education has budgeted a significant

amount of money for a radio, print, television, and online advertisingcampaign emphasizing the long-term benefits, both educational andprofessional, of reading every day This is an example of a(n)

campaign

1 ethical

1 customer-perceived value

2 customer satisfaction

5 customer lifetime value

The Niketown running club that organizes twice weekly evening runs for Nike customers is an example of a

1 frequency marketing program

2 basic customer relationship

3 club marketing program

4 consumer-generated marketing program

5 structural benefit provided for top customers

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business The key to this goal is

to match the customer-perceived performance of his product with

1 company-perceived performance

2 customer values

3 customer expectations

4 relationship levels

5 company expectations

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems These fast-food restaurants overlook the philosophy

The first four steps of the marketing process focus on

1 understanding the market

2 delivering customer service

3 creating value for customers

4 understanding customer demands and needs

5 capturing value from customers

Segmenting customers into 4 categories (butterflies, true friends, strangers, and barnacles) essentially evaluates customers on whichtwo dimensions?

1 profitability and revenue

2 revenue and customer loyalty

3 profitability and customer loyalty

4 revenue and communications costs

5 profit and communications costs

Elisandra, a marketing manager at a regional chain restaurant, has decided to create a contest calling for customers to create

commercials for the restaurant Winning entries will be posted on the organization's home page Elisandra's plan is an example of

1 consumer-generated marketing

2 partner relationship management

3 customer lifetime value

4 community development around a brand

5 share of customer

The ultimate aim of customer relationship management is to

produce

1 maintaining customer-perceived value

2 managing partner relationships

3 attracting "butterflies"

4 converting "strangers"

5 capturing customer lifetime value

As part of the rapid globalization of today's economy, companies are selling more locally produced goods in international markets and

1 taking a local view of their industry

2 purchasing more supplies abroad

3 reducing competition within their industry

4 downplaying concerns for social responsibility

5 competing solely in traditional marketplaces

It is most accurate to say that today almost every company, small and large, is affected in some way by which of the following?

1 the societal marketing concept

2 customer relationship management

5 societal marketing concept

The authors of your text classify customers into four relationship groups, according to the customers' profitability and projected

loyalty are the customers with the highest profit potentialand strong loyalty

1 Barnacles

2 Strangers

3 Butterflies

4 True friends

5 Big fish

As the economy emerges from the recent recession and heads into the post-recession era, one dominant consumer trend that has taken shape is _

The social-responsibility and environmental movements are

expected to in the future

1 demand more from companies

2 demand less from companies

3 move away from sustainable marketing

4 move toward partner relationship management

5 move away from using social networking