business quiz seven – Flashcards
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1. Which of the following marketing strategies can be best employed for attracting tourists?
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Place marketing
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The _____ is a philosophy that makes customer satisfaction the central focus of an entire organization.
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marketing concept
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_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.
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Customer relationship management
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Which of the following is the scope of relationship of marketers who actively gather data and pursue a connection with customers who initiate contact.
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Limited relationship
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In the context of customer relationship management (CRM), a firm selling a high-ticket product to a small customer base is most likely to:
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pursue a full partnership with each of its key clients
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Which of the following can be achieved by marketers by acquiring customer loyalty?
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Installations
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Neon Bolt is an energy drink manufacturer. The marketing strategies of Neon Bolt are focused on males in the age group of 16-25 years who enjoy sports and other outdoor activities. The company advertises its product at skateboard parks, basketball venues, and ski resorts. The customer group that Neon Bolt focuses on is called its _____.
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target market
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A management consulting firm offers a management training program that instructs students on utilizing various tools for effective time management and aims to improve their risk management skills. Which form of product is the firm offering?
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Pure services
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The physical good or delivered service that provides a core benefit is called the _____ product
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Actual
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Andrew's parents want him to get a good education and, therefore, send him to the best school in the town. In this case, Andrew's education is the _____ his parents were looking for when they got him admitted in the school.
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core benefit
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_____ are the inexpensive goods and services that consumers buy frequently with limited consideration and analysis
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Convenience products
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Which of the following business product categories refers to large capital purchases designed for a long productive life and the marketing of which emphasizes personal selling and customization?
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Installations
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Marketing of raw materials, one of the business product categories, primarily emphasizes:
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price and service.
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The characteristics of a product that a marketer offers are known as _____.
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product features
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The overall value of a brand to an organization—the extra money that consumers will spend to buy that brand—is called _____.
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brand equity
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Which of the following statements is true of the distribution strategy?
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It is a plan for delivering the right product to the right person at the right place at the right time
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Hansel owns and runs a fruit juice manufacturing company. He decides that the company will sell packaged fruit juices through wholesalers and retailers. In this scenario, which of the following distribution strategies is Hansel planning to use?
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Channel intermediaries
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Which of the following statements is true of the members of a distribution channel?
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The businesses that buy from wholesalers can be retailers, other wholesalers, or business users.
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A specialty store:
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c. sells a wide selection of merchandise within a narrow category
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_____ means establishing only one retail outlet in a given area.
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c. Exclusive distribution
