$10$:$22$

$244$

AA

rosewood.orbundsis.com

$13.$ The product concept says that a company should do which of the following?

$2$ points

A$)$ improve marketing of its best products

B$)$ market only those products with high customer appeal

C$)$ focus on the target market and make products that meet those customers' demands

D$)$ focus on making continuous product improvements

E$)$ make promoting products the top priority

$14.$ According to the production concept, consumers will favor products that are and

$2$ points

A$)$ satisfying; quality focused

B$)$ advertised; affordable

C$)$ in high demand; hard to find

D$)$ segmented; convenient

E$)$ available; affordable

$15.$ Customer$-$driven marketing usually works well when $.$

and when customers

$2$ points

A$)$ a clear need exists; are difficult to identify

B$)$ a clear need exists; know what they want

C$)$ a need exists; don't know what they want

D$)$ a firm can deliver the goods desired; are thoroughly researched

E$)$ customers know what they want; are loyal to the brand

$16.$ Building, keeping, and growing profitable relationships by delivering customer value and satisfaction is called

$2$ points

A$)$ customer lifetime value

B$)$ customer perceived value

C$)$ customer relationship management

D$)$ database marketing

E$)$ societal marketing

$17.$ Pete Sanchez, a recent graduate of business school, has a different approach than his marketing manager, who believes in keeping customers at arm's length and using mass media advertising. Pete knows that today few successful firms still practice true

$2$ points

and are instead turning to selective relationship management.

A$)$ mass marketing

B$)$ club marketing

C$)$ frequency marketing

D$)$ customer satisfaction

E$)$ market segmentation

$18.$ The ultimate aim of customer relationship management is to produce

$2$ points

A$)$ market share

B$)$ sales volume

C$)$ a reliable database

D$)$ customer equity

E$)$ higher profit margins

$19.$ In the case of excess demand, may be required to reduce the number of customers or to shift demand temporarily or permanently.

$2$ points

A$)$ marketing

B$)$ demarketing

C$)$ value marketing

D$)$ surplusing

E$)$ negotiating

$20.$ The art and science of choosing target markets and building profitable relationships with them is called

$2$ points

A$)$ positioning

B$)$ segmentation

C$)$ differentiation

D$)$ marketing management