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Exam 11: Marketing: Building Profitable Customer Connections

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Question 91

Multiple Choice

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Mauve Inc. purchased a global data collection and management system that can provide it with detailed information about each of its customers that would allow it to create:

A) products tailored for individual consumers on a mass basis.
B) new marketing strategies based on customer demand.
C) a generic product that would suit all of their customers.
D) products made for a vast and universal market of customers.

E) C) and D)
F) A) and C)

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Question 92

Multiple Choice

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Customer relationship management (CRM) works best when marketers combine marketing communication with _____.

A) mass customization
B) psychographic market segmentation
C) one­on­one personalization
D) business­to­consumer marketing

E) None of the above
F) A) and B)

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Question 93

Multiple Choice

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_____ refers specifically to how people act when buying products for their own personal consumption.

Relish Inc. manufactures an assortment of snack foods. Relish uses packaging that can be reused and is biodegradable. The company has also invested in renewable energy sources for all its facilities. Relish's initiatives are an example of _____.

The first step in developing a marketing plan is to identify the individuals most likely to buy your products.

Ownership utility satisfies wants by providing goods and services at a convenient place for customers.

Demographic market segmentation is based on measurable characteristics of potential customers, such as age, education, income, ethnicity, and gender.

One benefit of achieving consumer loyalty is that consumers may be willing to forgive a company's mistakes.

Johanna purchased a brand new car despite its high price. Soon after taking possession of her new car, she had the feeling that she has made an awful mistake in purchasing such an expensive car. In this scenario, Johanna is experiencing:

When B2B (business­to­business) marketers divide the market based on the concentration of customers, they are using _____ segmentation.

Motivation and attitudes are major elements of the cultural influences on consumer decision making.

Premier Events is an event management company based in Lexington, Kentucky. The small company has been in business for two years but is still struggling for success. After reviewing its competitors' successes and failures, the marketing manager decides to alter Premier's marketing mix. Which of the following elements is NOT a part of this process?

Ideas such as "Don't drink and drive" and "Recycle" are examples of form marketing.

Deadly Nightmare, a heavy metal band, is about to release its first music CD. It is important that Deadly Nightmare determine its target market in order to successfully distribute its music. The band knows adolescent urban males make up the largest portion of the heavy metal music market. Using this information to develop its target market is known as demographic segmentation.

With reference to customer relationship management (CRM) , a firm selling a high­ticket product to a small customer base is most likely to:

Which of the following marketing strategies can be best employed for attracting tourists?

Which of the following is a B2C (business­to­consumer) market segment?

The marketing concept is a philosophy that makes _____ the central focus of an entire organization now and in the future.

Demographic segmentation divides the market:

Companies use event marketing when they sponsor sporting, cultural, or charitable events.