Better Business Ch. 12 – Flashcards
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Marketing departments do NOT serve which of the following functions?
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establish meaningful relationships with customers to instill loyalty
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The main function of marketing is
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to successfully establish meaningful relationships with customers to ensure loyalty and repeat business.
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Marketing creates value for the customer by ________.
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identifying and meeting human needs and wants.
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Marketing has evolved over which four general eras?
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production concept, sales concept, marketing concept, customer relationship
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In a "seller's market" ________.
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demand exceeds supply
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The era when companies believed that a good quality product would simply sell itself ran ________.
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from the Industrial Revolution until the 1920s
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When U.S. soldiers returned home from World War II, they influenced the marketing of products by ________.
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getting married, starting families, and having the willingness to spend money
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When competition for customers became more intense during the Sales Concept Era, businesses began to ________.
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undertake aggressive sales tactics to "push" their products
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The marketing concept changed the focus from finding the right customer for a product to producing the right product for a customer and doing it better than the competition by specifically focusing on all of the following EXCEPT ________
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realizing a profit by satisfying customers over a long term.
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When companies constantly take the pulse of changing customer needs and wants, then quickly adapt to meet them, they are able to ________.
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satisfy customer preferences before they are expressed or even known by customers
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During which era did businesses switch their focus to place special emphasis on pleasing customers after the sale?
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customer relationship era
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CRM stands for ________.
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customer relationship management
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Which of the following tools is NOT used to retain customers in order to stimulate future sales of similar or supplementary products?
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heavy public advertising
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Which of the following is NOT a function of CRM software, which would help a company to learn as much as possible about customers and create a meaningful one-on-one interaction with each of them?
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calling customers at their homes to promote the latests products
