Marketing Exam #1

Front 1

A firm that wants to develop a deeper understanding of its customers may optimize profitiablity, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is:

Back 1

Customer Relationship Management

Front 2

Refer to Starbucks. Starbucks customers wanted more value from their coffee. Starbucks management responded to customers through the Starbucks card rewards program. Which element of value was Starbucks management working to increase?

Back 2

Earning trust

Front 3

TUFF SHED, Inc. is one of the leading suppliers of installed storage buildings and garages in the United States. TUFF SHED mandates that sales, management, and construction teams work together to anticipate and eliminate potential problems. They make sure customers get the right buildings for their needs, and they all are built well and in a timely manner. By using teamwork, TUFF SHED:

Back 3

provides its customer with a high level of satisfactio

Front 4

Marketers interested in offering customer value can:

Back 4

offer organization-wide commitment to service and after-the-sale support.

Front 5

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created.

Back 5

customer satisfaction

Front 6

Mimi Couturier is a design company that specializes in formalwear for women. The company is known for challenging fashion mores. The company's fashion designers use computer-assisted design software to create what it thinks women should wear. The company regularly hires industry experts to examine its factories to find waste and inefficiencies that can be eliminated. The company has expanded the number of products it offers for sale many times. However, for the last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To avoid this occurrence in the future, Mimi Couturier should:

Back 6

have someone study its target market to see what needs and wants should be met by Mimi Couturier

Front 7

All of the following are good reasons to study marketing EXCEPT:

Marketing creates consumer needs.

Marketing plays an important role in society, coordinating the huge numbers of transactions needed to provide goods and services.

Marketing is a key function in business.

Marketing offers outstanding career opportunities.

Marketing affects your day-to-day life as a consumer.

Back 7

Marketing creates consumer needs.

Front 8

Which marketing management philosophy focuses on the question, "What do customers want and need, and how can we benefit society?"

Back 8

Societal marketing

Front 9

The _____ orientation assumes people will buy more if aggressive selling techniques are used.

Back 9

sales

Front 10

A market-oriented firm defines its business in terms of:

Back 10

the benefits its customers seek

Front 11

Apple, Inc. is now offering the iPhone 4S for free on contract. This new strategy reflects a change in the _____ element of its marketing mix.

Back 11

price

Front 12

A statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n):

Back 12

mission statement

Front 13

The _____ is the unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

Back 13

marketing mix

Front 14

An international company that needs to develop a way to compare its actual marketing results with planned results must engage in:

Back 14

control

Front 15

Land O'Lakes makes a light butter with canola oil that has 60 percent less cholesterol and 50 percent less fat and calories than butter. This marketing gives the product a:

Back 15

competitive advantage

Front 16

_____ is a marketing strategy that creates new products for present markets.

Back 16

product development

Front 17

Delta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respected the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta faucet. To change its image, Delta began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan––"Beautifully Engineered."Refer to Delta Faucet Company. Delta's development of a new slogan represents a change in the _____ element of its marketing mix.

Back 17

promotion

Front 18

All of the following are strategic alternatives that match products with markets EXCEPT:

Back 18

product penetration

Front 19

Marketing plans should be written to do all of the following EXCEPT:

Back 19

control the elements of the external marketing environment

Front 20

In order to expand its sales into the U.S. market, BRL, an Australia-based winemaker, agreed to a merger with a U.S.-based wine distribution company. According to Ansoff's strategic opportunity matrix, BRL would be implementing a _____ strategy.

Back 20

market development