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Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of

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customer relationship management.

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The "Got Milk" advertising campaign, designed to increase consumption of milk, was intended to help market a(n)

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industry.

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Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and

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the ability to buy them.

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Marketers must determine the price of a product carefully, based on potential buyers' beliefs about

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its value.

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The marketing goal of getting the "right quantities to the right locations, at the right time" is:

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supply chain management.

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When a tee shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing?

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Production-oriented

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To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and is surveying its graduates regarding students' educational needs and desires. Pokrah University is becoming more value driven through

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building relationships with customers.

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Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing.

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C2C

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Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be "in the buying mode." Franco's system is part of

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customer relationship management.

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The importance of supply chain management is often overlooked in the study of marketing because

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many of the activities take place behind the scenes.

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UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals. Correct Answer

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supply chain management

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Many entrepreneurs are successful through marketing efforts designed to

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satisfy unfilled needs.

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__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product.

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Promotion

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Effective promotion enhances a product or service's

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perceived value.

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Which of the following is a core aspect of marketing

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Making product, place, promotion, and price decisions

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The basic difference between a good and a service is that a good

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can be physically touched.

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Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT

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product. place. ( performance. ) promotion. price

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Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings.

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benefits

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Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect?

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Making product decisions

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Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called

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supply chain management.

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By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

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increase the perceived value of their products.

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Marketers involved in supply chain management are constantly balancing

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the goal of minimizing costs against satisfying the service levels customers expect.

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One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in

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long-term relationships.

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In the past, manufacturer's representatives did not have up-to-minute data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value-driven through Correct Answer

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sharing information across the organization.

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After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of

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engaging customers and developing long-term relationships.

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Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. Retailers function as

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market intermediaries.

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The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets.

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controllable

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Marketing provides the critical function of __________ when companies expand globally.

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understanding customers

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Even though they operate from out-of-the-way airports and offer few extra services, discount airlines like Ryanair and EasyJet have been successful. Consumers obviously consider

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the benefit of lower prices to be greater than the cost of reduced services and less convenience.

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Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is

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expanding from offering just goods to also offering services.

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Auction sites like eBay have increased opportunities for __________ marketing.

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C2C

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Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

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the value of their time and energy.

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Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on

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how different customers perceive the value of her services.

Marketing Quiz Questions Chapter 1 – Flashcards

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