8. The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

a. Lifetime value of a customer

b. Segmentation of a customer

c. Share of a customer

d. Equity of a customer

9. Buy one get one free is an example of a.

Sales promotion

b. Advertising

c. Public relations

d. Personal selling

10.In one-to-one marketing, what is the next step after a marketer has identified customers and knows them in as much detail as possible?

a. Interact with the customers and find ways to improve cost efficiency

b. Differentiate among these customers in terms of both their needs and their value to the company

c. Customize some aspects of the products or services offered to each customer

d. Implement a mass customisation program

11.If the price of a product is raised a lot with relatively little fall in sales then demand for that product is price inelastic.

a. True

b. False

12.When using ________, a consumer exerts little effort in making a purchase decision.

a. Habitual decision making

b. Extended problem solving

c. Independent heuristic rating

d. Limited problem solving

13.According to your textbook, a persons ________ consist(s) of sets of people that a consumer wants to please or imitate.

a. culture

b. subculture

c. reference groups

d. demographics

14.In marketing communications, a push campaign is where:

a. Advertising to consumers encourages them to make a purchase

b. A product is given an extra big push

c. A press release is pushed out to journalists

d. Retailers are given incentives to encourage consumers to buy

15.Holding a press conference is an example of

a. Advertising

b. Public relations

c. Sales promotion

d. Personal selling

16.A loss leader is:

a. A product that is sold at a lower price in order to increase market share

b. The product that has the highest costs

c. A product that is sold at or below cost in order to sell additional products or services

d. The product that makes you the biggest los

17.In the lecture on Segmentation four approaches to segmenting the marketplace were given. They were:

a. Demographics, topography, habits & advantages

b. Demographics, geography, sociocultural & features

c. Demographics, geodemographics, lifestyle & benefits

d. Demographics, physiography, sociocultural & technical

18.________ is the difference between the prospective customers evaluation of all the benefits and all the costs of an offering.

a. Failure avoidance rate

b. Customer perceived value

c. Perceived usefulness

d. Report rating

19.The four key features of a service identified by Kotler are

a. Congruity, intangibility, perishability, integrity

b. Divergence, intangibility, durability, consonance

c. Heterogeneity, intangibility, perishability, inseparability

d. Similitude, intangibility, persistence, construction

20.A positioning statement is

a. An internal accounting term that indicates products with growth potential

b. A promise to the customer about what a product will do

c. A statement that places the product against the competition

d. Two products bundled together to offer the consumer greater value for money