STR 581 Final Exam Set 4 / 100% correct answers Essay examples

4209 Words Mar 10th, 2014 17 Pages
STR 581 Final Exam Set 4 / 100% correct answers

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1) Total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations. To achieve total customer satisfaction, organizations need to_____________.

A. Lower prices

B. Spend more money

C. Lower expectations

D. Develop marketing campaigns

E. Manage customer experiences

2) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

A. A
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franchise/co-brand

C. license/receive permission

D. license/franchise

16) The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is ________.

A. e-commerce becomes difficult for the company

B. competitors can easily copy any new product introductions

C. logistics can become a nightmare

D. the product may be supplanted by an entirely new technology

E. no synergy exists

17) “Power prices” use price as a key strategic tool. These “power prices” have discovered the highly ________ effect of price on the bottom line.

A. soothing

B. direct

C. abrasive

D. leveraged

E. dramatic

18) Following the ________ approach to target market selection encompasses a strong knowledge of the segment’s needs, a strong market presence, and operating economies through specializing in production, distribution, and promotion.

A. full market coverage

B. product specialization

C. selective specialization

D. single-segment concentration

E. market specialization

19) Major retailer types include the following EXCEPT ________.

A. superstore

B. catalog showroom

C. discount store

D. specialty store

E. the Internet

20) ________ communicates a

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