Creating and Capturing Customer Value questions

1) All of the following are accurate descriptions of modern
marketing EXCEPT which one?
A) Marketing is the creation of value for customers.
B) Marketing is managing profitable customer relationships.
C) Selling and advertising are synonymous (??ng ngh?a) with
marketing.
D) Marketing involves satisfying customers’ needs.
E) Marketing is used by for-profit and not-for-profit
organizations.

2) According to management guru Peter Drucker, “The aim
of marketing is to ________.”
A) create customer value
B) identify customer demands
C) make selling unnecessary (superfluous-ko c?n thi?t)
D) set realistic customer expectations
E) sell products

3) ________ is defined as a social and managerial process by
which individuals and organizations obtain what they need and want through
value creation and exchange.
A) Selling
B) Advertising
C) Bartering
D) Marketing
E) Negotiating

4) Which steps of the five-step marketing process are about
understanding customers, creating customer value, and building strong customer
relationships?
A) the first two only
B) the first three only
C) the first four only
D) the last three only
E) the last four only

5) According to the simple five-step model of the marketing
process, a company needs to ________ before designing a customer-driven
marketing strategy.
A) determine how to deliver superior value
B) build profitable relationships with customers
C) use customer relationship management to create full
partnerships with key customers
D) understand the marketplace and customer needs and wants
E) construct key components of a marketing program

6) ________ arehuman needs
asshaped by individual personality and culture.
A) Needs
B) Wants
C) Demands
D) Values
E) Exchanges

7) When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges

8) A(n) ________ is some combination of products, services,
information, or experiences offered to consumers to satisfy a need or want.
A) market offering (cung c?p cho th? trg`)
B) value proposition
C) demand satisfaction
D) need proposition
E) evoked set

9) Which of the following refers to sellers being preoccupied
with their own products andlosing sight of underlying consumer needs?
A) selling myopia
B) marketing management
C) value proposition
D) marketing myopia (ti?p th? thi?n c?n)
E) the product concept

10) When marketers set low expectations for a market
offering, the biggest risk they run is ________.
A) disappointing loyal customers
B) decreasing customer satisfaction
C) failing to attract enough customers
D) failing to understand their customers’ needs
E) incorrectly identifying a target market

11) ________ is the act of obtaining(có dc) a desired object
(??i t??ng mong mu?n) from someone by offering something in return.
A) Valuation
B) Exchange
C) Bribery
D) Value creation
E) Donation

12) A(n) ________ is the set of actual and potential buyers
of a product.
A) market
B) audience
C) group
D) segment
E) exchange

13) Consumer research, product development, communication,
distribution, pricing, and service are all core ________ activities.
A) exchange
B) marketing
C) management
D) production
E) customer relationship management

14) The art and science of choosing target markets and
building profitable relationships with them is called ________.
A) marketing management
B) positioning
C) segmentation
D) selling
E) differentiation

15) Selecting which segments of a population of customers to
serve is called ________.
A) market segmentation
B) positioning
C) customization
D) target marketing
E) managing the marketing effort

16) Which of the following is the set of benefits a company
promises to deliver to customers to satisfy their needs?
A) a money-back guarantee
B) low pricing
C) customer service
D) a value proposition (?? xu?t)
E) an attribute

17) Which customer question is answered by a company’s value
proposition?
A) “Why should I buy your brand rather than a competitor’s?”
B) “How does you“ brand benefit society?”
C) “What ar” the“costs and benefits of your brand?”
D) “What ki”d of“experience will I have with products
and services associated with this brand?”
E) “What ar” the“benefits of being a loyal consumer of
your brand?”

18) Which of the following marketing management orientations
focuses primarily on improving efficiencies along the supply chain? (??nh
h??ng qu?n lý ti?p th? sau ?ây t?p trung ch? y?u vào nâng cao hi?u qu? trong
chu?i cung ?ng?)
A) production concept (khái ni?m s?n xu?t)
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept

19) Which of the following marketing management concepts is
most likely to lead to marketing myopia?
A) customer-driven marketing
B) customer-driving marketing
C) societal marketing
D) marketing
E) product

20) According to the production concept, consumers will favor
products that are ________ and ________.
A) satisfying; quality focused
B) advertised; affordable
C) in high demand; hard to find
D) segmented; convenient
E) available; affordable
Answer: E

21) The ________ concept is aligned with the philosophy of
continuous product improvement and the belief that customers will choose
products that offer the most in quality, performance, and innovative features.(
Các
khái ni?m ________ phù h?p v?i tri?t lý c?a liên t?c c?i ti?n s?n ph?m và ni?m
tin mà khách hàng s? ch?n s?n ph?m cung c?p nhi?u nh?t v? ch?t l??ng, hi?u
su?t, và các tính n?ng sáng t?o.)

A) product
B) production
C) customer
D) marketing
E) promotion

22)The product concept says that a company should do
which of the following?
A) improve marketing of its best products
B) market only those products with high customer appeal
C) focus on the target market and make products that meet
those customers’ demands
D) focus on making continuous product improvements
E) make promoting products the top priority

23) “Build a better mousetrap and the world will beat a
path to your door” reflects the ________ concept.
A) production
B) marketing
C) selling
D) product
E) target marketing

24) Which marketing orientation calls for aggressive
promotional efforts and focuses on generating transactions to obtainprofitable
sales?
A) marketing concept
B) production concept
C) product concept
D) selling concept
E) societal marketing concept

25) Which marketing orientation holds that achieving
organizational goals depends on knowing the needs and wants of target markets
and delivering the desired satisfactions better than competitors do?
A) product concept
B) production concept
C) selling concept
D) marketing concept
E) societal marketing concept

26) According to the authors of your text, the ________
concept is a “sense and respond” philosophy rather than a “make
and sell” philosophy.
A) product
B) production
C) marketing
D) retailing
E) societal marketing

27) A firm that uses the selling concept takes a(n) ________
approach.
A) outside-in
B) passive
C) inside-out
D) societal
E) customer service

28) Herb Kelleher of Southwest Airlines used the marketing
concept in his successful organization. Having a customer department rather
than a marketing department, as suggested by Kelleher, is an example of a(n)
________ perspective.
A) outside-in
B) external
C) inside-out
D) continuous improvement
E) traditional

29) Though often criticized, the selling concept is
particularly appropriate and effective with which of the following types of
products?
A) convenience
B) shopping
C) specialty
D) unsought
E) demarketed

30) Which of the following reflects the marketing concept
philosophy?
A) “We don’t have a marketing department; we have a customer
department.”
B) “We’re in the business of making and selling superior
products.”
C) “We build them so you can buy them.”
D) “When it’s profits versus customers’ needs, profits
will always win out.”
E) “You won’t find a better deal anywhere.”

31) Customer-driven marketing usually works well when
________ and when customers ________.
A) a clear need exists; are difficult to identify
B) customers know what they want; are loyal to the brand
C) a firm can deliver the goods desired; are thoroughly
researched
D) a clear need exists; know what they want
E) a need exists; don’t know what they want
Answer: D

32) Marie Ortiz enjoys her work at Futuristic Designs, Inc.
Her organization understands and anticipates customer needs even better than
customers themselves do and creates products and services to meet current and
future wants and demands. Marie’s firm practices ________ marketing.
A) customer-driven
B) customer-driving
C) relationship
D) societal
E) social

33) 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

34)The societal marketing concept seeks to establish a
balance between consumershort-run wants and consumer ________.
A) short-run costs and profits
B) short-run ethics
C) long-run welfare (phúc l?i lâu dài)
D) immediate health
E) value propositions

35) Which marketing orientation 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 concept
B) selling concept
C) product concept
D) societal marketing concept
E) equity concept

36) 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

37) 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

38) 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

39) Of the following, which is the most important concept of
modern marketing?
A) customer relationship management
B) e-mail advertising
C) mass marketing
D) properly trained sales people
E) low prices

40) You have just taken a new position in an organization and
you’re learning about the job functions of your new colleagues. You observe
that your marketing manager is heavily involved in the process of building and
maintaining profitable customer relationships. Your marketing manager
frequently speaks about the need to acquire, keep, and grow customers. Your
manager is concerned with which one of the following?
A) customer divestment
B) customer-managed relationships
C) the societal marketing concept
D) partner relationship management
E) customer relationship management

41) 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 (?ánh giá cá nhân)
B) rational expectations
C) accurate assessment
D) objective evaluation
E) emotional understanding

42) 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

43) The key to delivering customer satisfaction is to match
________ with ________.
A) company performance; the competition’s performance
B) company performance; competitive prices
C) relationship building; performance tools
D) company performance; unique products
E) customer expectations; product performance

44) Which of the following is the term for customers who make
repeat purchases andtell others
about their positive experiences with a product or service?
A) barnacles
B) customer evangelists (truy?n bá khách hàng)
C) butterflies
D) full partners
E) social customers

45) Which of the following strategies would a company most
likely use to increase customer satisfaction?
A) decreasing the variety of offered services
B) divesting
C) lowering prices
D) “firing” unprofitable customers
E) limiting customer experiences with a brand

46) You are an assistant marketing director for a firm in a
market with many low-margin customers. What type of relationship would be most
profitable for you to develop with these customers?
A) full partnerships
B) basic relationships
C) basic partnerships
D) club programs
E) selective relationships

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

48) Pete Sanchez, a recent graduate of business school, has a
different approach 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 true ________.
A) club marketing
B) frequency marketing
C) mass marketing
D) customer satisfaction
E) market segmentation

49) Which of the following has NOT contributed to the deeper,
more interactive nature of today’s customer relationships?
A) e-mail
B) Web sites
C) online social networks
D) traditional advertising
E) video sharing

50) Which of the following best explains whyconsumers
have greater power and control in today’s marketplace?
A) The production concept and competition have lowered
prices.
B) Implementation of the product concept has resulted in
continually improving products.
C) Customer-driven marketing creates products and services
that meet customers’ future needs.
D) More companies are implementing societal marketing and
weighing long-term costs and benefits.
E) Through new communication technologies, customers have more
access to information and more methods of sharing their opinions with other
customers.

51) The marketing world is embracing ________ because
consumers can wield greater power and control in the marketplace through
communication technologies. Th? tr??ng th? gi?i ?ang ti?p nh?n
________ vì ng??i tiêu dùng có th? v?n d?ng s?c m?nh l?n h?n và ki?m soát trên
th? tr??ng thông qua công ngh? truy?n thông.
A) partner relationship management
B) supply chain management
C) customer-managed relationships
D) market segmentation
E) target marketing

52) Greater consumer control means that companies must rely
more on marketing by ________ than by ________.
A) interruption; involvement
B) attraction; intrusion
C) socialization; information
D) producing; selling
E) inspiration; competition

53) Which of the following is an example of
consumer-generated marketing?
A) Toyota’s presence in online communities
B) Nike’s Nike Plus running Web site
C) MasterCard’s use of “Priceless” commercials shot
by customers
D) Neiman Marcus’s InCircle Rewards program for its best
customers
E) The Lexus Covenant aimed at creating customer deligh

54) Partner relationship management focuses on working with
________ to bring more value to customers.
A) partners inside and outside of the company
B) competitors
C) consumers
D) interest groups
E) partners outside of the company only

55) In today’s world, marketing should be done by ________
employees in an organization.
A) only marketing
B) only marketing, sales, and customer-support
C) only sales and technology
D) only management and marketing
E) all

56) Through ________, many companies today are strengthening
their connections to all partners, from providers of raw materials to
components to final products that are delivered to final buyers.
A) supply chain management
B) direct marketing
C) partnership relationship marketing
D) customized marketing
E) equity marketing

57) Suzie Chan strengthens her company’s connections by
treating suppliers of raw materials, vendors, and distributors as partners in
delivering customer value. What type of management is she practicing?
A) outside partnering
B) inside partnering
C) marketing
D) supply chain
E) customer development

58) The final step in the marketing process is ________.
A) capturing value from customers
B) creating customer loyalty
C) creating customer lifetime value
D) understanding the marketplace
E) designing a customer-driven marketing strategy

59) Stew Leonard, the owner of a highly successful regional
supermarket chain, reacts adversely to losing a single customer sale. He feels
that this amounts to losing the entire stream of future purchases that a
customer is likely to make if she remains in the area. Stew Leonard’s concern
is an illustration of which of the following?
A) share of customer
B) market share
C) partner relationship management
D) customer lifetime value
E) market share maintenance

60) When an airline goes after a “share of travel”
from its customers, it is attempting to increase ________.
A) partner equity
B) share of customer
C) profit margins
D) customer-managed relationships
E) customer ownership
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Creating and Capturing Customer Value questions,61) Beyond simply retaining good customers