C HAPTER 1 MARKETING: Managing Profitable Customer Relationships CRS Questions & Answers

Copyright 2007, Prentice-Hall Inc.1-2 Your firm’s marketing campaign appeals to your customers' desire to be perceived as owning the best in bicycle technology. Your marketing campaign successfully appeals to consumers': 1.Needs 2.Wants 3.Satisfactions 4.Demands

Copyright 2007, Prentice-Hall Inc.1-3 Your firm’s marketing campaign appeals to your customers' desire to be perceived as owning the best in bicycle technology. Your marketing campaign successfully appeals to consumers': 1.Needs 2.Wants 3.Satisfactions 4.Demands Wants are shaped by society and described in terms of objects that will satisfy needs. A need for self-expression may have translated into the desire described above.

Copyright 2007, Prentice-Hall Inc.1-4 Your company offers free maintenance and repair for the first two years after the purchase of a bicycle. Therefore, along with the physical product, you offer an attractive package of: 1.Values 2.Ideas 3.Events 4.Services

Copyright 2007, Prentice-Hall Inc.1-5 Your company offers free maintenance and repair for the first two years after the purchase of a bicycle. Therefore, along with the physical product, you offer an attractive package of: 1.Values 2.Ideas 3.Events 4.Services Services are intangible activities or benefits that do not result in the ownership of anything. Services are often part of a market offering that includes a physical good.

Copyright 2007, Prentice-Hall Inc.1-6 Political campaign managers define the candidate’s positioning among voters and work on pre-election rallies during which candidates and supporters deliver speeches. Campaign managers essentially plan a: 1.Product 2.Service 3.Satisfaction 4.Promotional Campaign

Copyright 2007, Prentice-Hall Inc.1-7 Political campaign managers define the candidate’s positioning among voters and work on pre-election rallies during which candidates and supporters deliver speeches. Campaign managers essentially plan a: 1.Product 2.Service 3.Satisfaction 4.Promotional Campaign Market offerings include persons, places, organizations, information, and ideas. The political campaign manager’s job is to shape the candidate into a successful “product.”

Copyright 2007, Prentice-Hall Inc.1-8 You favor an approach that emphasizes the quality and new features of your bicycles while your assistant prefers to emphasize innovative promotion strategies. Which two marketing concepts are being exhibited? 1.Marketing and selling 2.Production and societal marketing 3.Product and marketing 4.Product and selling

Copyright 2007, Prentice-Hall Inc.1-9 You favor an approach that emphasizes the quality and new features of your bicycles while your assistant prefers to emphasize innovative promotion strategies. Which two marketing concepts are being exhibited? 1.Marketing and selling 2.Production and societal marketing 3.Product and marketing 4.Product and selling The product concept emphasizes product quality, performance, and innovative features. The selling concept focuses on creating sales transactions.

Copyright 2007, Prentice-Hall Inc.1-10 After perfecting a process that reduces the overall cost of producing customized bikes, you adopt the ______ concept of marketing, whereby you offer your products to consumers at prices below the competition. 1.Production 2.Product 3.Marketing 4.Societal marketing

Copyright 2007, Prentice-Hall Inc.1-11 After perfecting a process that reduces the overall cost of producing customized bikes, you adopt the ______ concept of marketing, whereby you offer your products to consumers at prices below the competition. 1.Production 2.Product 3.Marketing 4.Societal marketing The production concept holds that consumers will favor products that are available and highly affordable.

Copyright 2007, Prentice-Hall Inc.1-12 To reduce the large capacity of bicycles in your warehouse, you adopt the ___________ concept and attempt to push your products into the market through heavy advertising. 1.Production 2.Product 3.Selling 4.Marketing

Copyright 2007, Prentice-Hall Inc.1-13 To reduce the large capacity of bicycles in your warehouse, you adopt the ___________ concept and attempt to push your products into the market through heavy advertising. 1.Production 2.Product 3.Selling 4.Marketing The selling concept focuses on creating sales transactions rather than on building long-term profitable customer relationships.

Copyright 2007, Prentice-Hall Inc.1-14 To save on labor and production costs, you build a factory in Mexico. However, you provide benefits to the Mexican workers comparable to those Americans receive, thus practicing the ________ concept. 1.Production 2.Product 3.Marketing 4.Societal marketing

Copyright 2007, Prentice-Hall Inc.1-15 To save on labor and production costs, you build a factory in Mexico. However, you provide benefits to the Mexican workers comparable to those Americans receive, thus practicing the ________ concept. 1.Production 2.Product 3.Marketing 4.Societal marketing Under the societal marketing concept, marketing strategy delivers value to customers that maintains or improves both the consumer’s and the society’s well-being.

Copyright 2007, Prentice-Hall Inc.1-16 In the new digital age, the most important technology for connecting is: 1.The Internet 2.The database 3.The laptop computer 4.The fiber optic telephone

Copyright 2007, Prentice-Hall Inc.1-17 In the new digital age, the most important technology for connecting is: 1.The Internet 2.The database 3.The laptop computer 4.The fiber optic telephone The Internet allows anytime, anywhere connections to information, entertainment, and communications.

Copyright 2007, Prentice-Hall Inc.1-18 Kodak continued to focus on producing traditional film-based cameras long after competitors introduced digital models. Kodak suffered from: 1.Marketing myopia 2.Poor partner relationship management 3.Outside-in perspective 4.Customer driven strategy

Copyright 2007, Prentice-Hall Inc.1-19 Kodak continued to focus on manufacturing traditional film-based cameras long after competitors introduced digital models. Kodak suffered from: 1.Marketing myopia 2.Poor partner relationship management 3.Outside-in perspective 4.Customer driven strategy Kodak ignored consumers’ desire for digitized photos that could be printed at home or shared over the Internet.

Copyright 2007, Prentice-Hall Inc.1-20 Your bicycle firm keeps a database of those who send in their warranty cards. Customers receive quarterly cycling newsletters, special discounts, and access to a password protected cycling-related Web site. Your firm is engaging in: 1.Caring capitalism 2.Customer relationship management 3.Partner relationship management 4.Not-for-profit marketing

Copyright 2007, Prentice-Hall Inc.1-21 Your bicycle firm keeps a database of those who send in their warranty cards. Customers receive quarterly cycling newsletters, special discounts, and access to a password protected cycling-related Web site. Your firm is engaging in: 1.Caring capitalism 2.Customer relationship management 3.Partner relationship management 4.Not-for-profit marketing CRM deals with all aspects of acquiring, keeping, and growing customers. The newsletter and Web site help retain customers, while discounts help to grow the business.