Customer relationship management refers to $\_\_\_\_\_\_\_$

Group of answer choices

the idea that an organization should $(1)$ strive to satisfy the needs of consumers $(2)$ while also trying to achieve the organization's goals.

the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long$-$term benefit.

the view that organizations should satisfy the needs of consumers in a way that provides for society's well$-$being.

the process of identifying prospective buyers, understanding them intimately, and developing favorable long$-$term perceptions of the organization and its offerings so buyers will choose them in the marketplace.

the cluster of benefits that an organization promises customers to satisfy their needs.

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Question $22$ pts

High$-$involvement purchases typically have which of the following characteristics?

Group of answer choices

The item is expensive, can have serious personal consequences, or could reflect on one's social image.

The item is inexpensive, new to the market, or is used for more than five years.

The item is inexpensive, widely available, or simple to use.

The item is expensive, new to the market, or recommended by influential personal sources.

The item is inexpensive, very safe to use, or purchased with great frequency.

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Question $32$ pts

A supply partnership refers to $\_\_\_\_\_\_\_$

Group of answer choices

the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer.

the practice whereby a seller requires the purchaser of one product to also buy another item in the line.

a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of or increasing the value of products and services delivered to the ultimate consumer.

an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors.

a supplier that requires a buyer purchasing some products from it to also buy others.

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Question $42$ pts

Brand equity refers to $\_\_\_\_\_\_\_\_\_\_$

Group of answer choices

the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors.

the added value a brand name gives to a product beyond the functional benefits provided.

increasing the content contained within the brand's package without changing its size or increasing its price.

the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and$/$or market.

the difference between the revenues generated and the costs incurred to sell a product.

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Question $52$ pts

Personal selling serves several major roles in a firm's overall marketing effort; for one, salespeople $\_\_\_\_\_\_\_\_\_\_$

Group of answer choices

provide the most valuable resource for segmenting and selecting target markets.

are heavily involved in interpreting the company's marketing research.

play a key role in research and development.

are the company in a customer's eyes.

play a dominant role in implementing an organization's pull strategy.

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Question $62$ pts

Market segmentation refers to $\_\_\_\_\_\_\_\_\_\_$

Group of answer choices

disaggregating prospective buyers from groups into segments of one $($individuals$)$ and then creating specific products that will satisfy this person's unique needs.

the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time.

aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.

sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service.

the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.

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Question $72$ pts

A concept that describes the stages a product goes through in the marketplace$$introduction$,$ growth, maturity, and decline$$is referred to as the

Group of answer choices

diffusion of product innovation.

retail life cycle.

marketing mix.

product life cycle.

product growth cycle.

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Question $82$ pts

Which of the following statements regarding the promotional mix is most accurate?

Group of answer choices

For maximum impact, funding for promotions should be equally divided among the five elements of the promotional mix.

The promotional mix can be influenced by the target audience for the promotion, the stage of the product's life cycle, the characteristics of the product, the decis