Home

Chapter 1

Chapter Quiz

Concept Challenge

Concept Challenge


This activity contains 22 questions.

	Companies address needs by putting forth a ________, a set of benefits they promise to customers to satisfy their needs.   service value proposition product promotional campaign

	Customers make choices based on their perceptions of the ________ and ______ that various products and services deliver.   advertising and price availability and price value and satisfaction products and services

	Which of the following is not central to the modern definition of marketing?   Needs, wants and demands Production and distribution efficiency Value, satisfaction and quality Exchange, transactions and relationships

	The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is known as ________.   lifetime value of a customer the value proposition customer relationship management perceived value

	The total combined customer lifetime value of all of the company's customers is known as customer ________.   relationship management satisfaction equity perceived valuesatisfaction

	___________ is the amount of money a customer would spend with a particular company over the course of his or her life.   Share of customer Customer perceived value Customer equity Customer lifetime value

	________ is the customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.   Customer perceived value An acceptable selling price Customer equity Customer satisfaction

	The marketing management philosophy known as the _______ concept holds that organizations should focus on “building a better mousetrap.”   selling product marketing production

	The phrase “share of customer” refers to the percentage, or share, that a company hopes to attract of a customer’s ________________.   purchasing in their product category total perceived value relationship with the company lifetime stream of purchases

	One goal of marketing is to attract new customers, but another, possibly even more important goal, is to __________ customers by creating customer ___________.   retain, loyalty satisfy, equity replace, databases please, satisfaction

	Customers with identical needs may want very different products to satisfy the need.    True  False

	Modern marketing focuses on customer acquisition as a priority over customer care    True  False

	A market is made up of only the actual buyers of a product or service and does not include potential buyers.    True  False

	A marketer may be concerned not only with finding and increasing demand, but also with changing or even reducing demand.    True  False

	Marketing management involves managing demand, but it does not involve managing customer relationships because that would be viewed as manipulative.    True  False

	ABC Company believes that its customers will favour products that are widely available and highly affordable. This philosophy, known as the production concept, is appropriate in today's modern competitive marketing environment.    True  False

	It is appropriate for organizations to be customer driven, but never customer-driving    True  False

	Customer satisfaction depends upon the seller's perceived performance relative to the buyer's expectations.    True  False

	The Internet helps organizations who want to conduct mass marketing connect with customers.    True  False

	Chapters.Indigo.ca, the e-commerce Web site of Chapters and Indigo bookstores, also sells music, videos and DVDs, and other products. Doing so allows the company to capture a greater share of customer.    True  False

	Explain the concept of customer relationship management.   To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

	Explain the major trends and forces that are changing the marketing landscape and challenging marketing strategy in the early 2000’s.   To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

Answer choices in this exercise appear in a different order each time the page is loaded.

Copyright © 1995-2008, Pearson Education, Inc. Legal and Privacy Terms