153 test bank for marketing an introduction 5th edition by armstrong đề trắc nghiệm marketing

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153 Test Bank for Marketing An Introduction 5th

Edition by Armstrong

Multiple Choice Questions - Page 1

Which of the following is most essential to any definition of

According to the simple five-step model of the marketing

process, a company needs to before

designing a customer-driven marketing strategy

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

When backed by buying power, wants become

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

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.

is the set of actual and potential buyers of a

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

Which of the following marketing management orientations

focuses primarily on improving efficiencies along the supply chain?

1 production concept

2 product concept

3 selling concept

4 marketing concept

5 societal marketing concept

In addition to attracting new customers and creating

transactions, the goal of marketing is to customers and grow the company's business

When marketers set low expectations for a market offering,

they are most likely to run the risk of which of the following?

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

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

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?"

Which of the following best encompasses market offerings?

1 products

2 people, places, and ideas

3 products and information

4 products and experiences

5 persons, places, organizations, information, and ideas

According to the authors of your text, the concept

is a "sense and respond" philosophy rather than a

"make and sell" philosophy

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?

The art and science of choosing target markets and building

profitable relationships with them is called

"Build a better mousetrap and the world will beat a path to

your door" reflects the concept

The steps of the five-step marketing process are

about understanding customers, creating customer value, and building strong customer relationships

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

Consumer research, product development, communication,

distribution, pricing, and service are all most

accurately described as core activities

1 exchange

2 marketing

3 management

4 production

5 customer relationship management

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.

Dollarama stores focus on serving buyers who have

relatively modest means This is an example of

is the set of benefits a company promises to

deliver to its consumers to satisfy their needs

If this is the only marketing management concept adopted,

manufacturers can develop to marketing myopia?

refers to sellers that pay more attention to their

own products than to the benefits and experiences produced by these products

1 Selling myopia

2 Marketing management

3 Value proposition

4 Marketing myopia

5 The product concept

Selecting which segments of a population of customers to

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?"

are human needs as shaped by individual

personality and culture

is the act of obtaining a desired object from

someone by offering something in return

90 Free Test Bank for Marketing An Introduction 5th

Canadian Edition by Armstrong Multiple Choice Questions - Page 2

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

Stew Leonard, owner/operator of supermarkets, 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 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

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 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

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

5 a societal marketing campaign

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.

The set of marketing tools a firm uses to implement its

marketing strategy is called the

When an airline goes after a "share of travel" from its

customers, it is attempting to increase

1 its value proposition

2 share of customer

3 target markets

4 customer variety

5 customer ownership

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

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

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

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 societal marketing concept seeks to establish a balance

between consumer short-run wants and consumer

1 short-run costs and profits

1 frequency marketing program

2 basic customer relationship

3 club marketing program

4 consumer-generated marketing program

5 structural benefit provided for top customers

Through , many companies today are strengthening

their connections to all partners, from providers of raw materials and components to final buyers who

purchase final products

1 supply chain management

2 direct marketing

3 partnership relationship marketing

4 customized marketing

5 deviated marketing

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

Which of the following consumer products would likely be

marketed using the selling concept?

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

company that offers the highest

1 value for the dollar

2 customer-perceived value

3 level of customer satisfaction

4 company image

5 concern for society's interests

The three areas of consideration that should be balanced in

the societal marketing concept are consumer wants, society's interests, and

1 human welfare

2 want satisfaction

3 company profits

4 short-run wants

5 long-term needs

The marketing world is embracing because

consumers can wield greater power and control in the marketplace through communication technologies

1 partner relationship management

2 supply chain management

3 customer-managed relationships

4 market segmentation

5 target marketing

When customers don't know what they want or don't even

know what's possible, the most effective strategy is marketing

The authors of the text would argue that is the

most fundamental concept of modern marketing

1 customer relationship management

2 social media

3 broadcast advertising

4 properly trained sales people

5 low prices

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

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?

1 customer-perceived value

2 customer satisfaction

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."

90 Free Test Bank for Marketing An Introduction 5th

Canadian Edition by Armstrong Multiple Choice Questions - Page 3

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

Railroads were once operated based on the thinking that

users wanted trains rather than transportation,

overlooking the challenge of other modes of

transportation This reflects the

Afia, a team leader in charge of customer relationship

management, is planning strategies for improving the profitability of her firm's least profitable but loyal

customers She is also examining methods for "firing" customers in this group who cannot be made

profitable To which of the following customer

relationship groups do these customers belong?

1 understanding the market

2 delivering customer service

3 creating value for customers

4 understanding customer demands and needs

5 capturing value from customers

Jolene's firm believes that consumers will not buy enough of

its products unless the firm undertakes a large-scale selling and promotion effort Jolene's firm is practicing the

1 production concept

2 marketing concept

3 selling concept

4 relationship concept

5 social advertising campaign

Which of the following is currently the fastest growing form

is the total combined customer lifetime values of

all the company's current and potential customers

1 Share of customer

2 Customer lifetime value

3 Customer equity

4 Profitability

5 Share of market

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

Greg Williams now has the buying power to purchase the

computer system he has wanted for the last six

months Greg's want now has become a

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

According to the authors, a highly profitable, short-term

As the economy emerges from the recent recession and

heads into the post-recession era, one dominant

consumer trend that has taken shape is _

1 ultra-frugality

2 sensible consumption

3 purchase reticence

4 "keeping up with the Jones'" consumption

5 conspicuous consumption

Sally purchased Brand X lotion In comparing her perception

of how the lotion performed to her expectations for Brand X lotion, Sally was measuring her level of

5 customer lifetime value

Which of the following has contributed to the deeper, more

interactive nature of today's customer relationships?

The concept of "saving money by firing your customers"

refers to which type of customer?

1 customers that lay complaints

2 unprofitable customers

3 old customers

4 new customers

5 no customer should ever be fired

You are an assistant marketing director for a firm in a market

with many low-margin customers What type of

relationship would it be most profitable for you to

develop with these customers?

At Gina's Nails, the posted policy is "Without our customers,

we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or

extra services whenever a customer is anything less than satisfied Instead of focusing on each individual transaction, Gina and her staff put a priority on

1 maintaining customer-perceived value

2 managing partner relationships

3 attracting "butterflies"

4 converting "strangers"

5 capturing customer lifetime value

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

Which of the following trends is not part of the changing

marketing landscape?

1 growing not-for-profit marketing

2 a surge in globalization

3 conspicuous consumption

4 consumer desire for more sustainable marketing practices

5 growth in digital/online marketing

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

Your local department of education has budgeted a

significant amount of money for a radio, print,

television, and online advertising campaign

emphasizing the long-term benefits, both educational and professional, of reading every day This is an example of a(n) campaign

Shania works hard to foster an emotional relationship

between her Internet customers and the beauty

products and services that she and her staff sell By promoting a company culture that values exceptional value and service, Shania aims to create by going beyond the expected

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