Better Business Ch. 12 – Flashcards

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