Filters
Question type
Study Flashcards

Customer relationship management refers to


A) the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
B) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
C) the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
D) the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
E) the cluster of benefits that an organization promises customers to satisfy their needs.

F) C) and D)
G) A) and C)

Correct Answer

verifed

verified

Services are:


A) physical objects sold in exchange for value.
B) intangible customer benefits that cannot be separated from the producer.
C) the concepts and thoughts about ideas or causes.
D) the benefits organizations receive in exchange for selling products.
E) the concepts and philosophies that go into creating a good.

F) A) and E)
G) C) and D)

Correct Answer

verifed

verified

What is the argument for standardizing marketing strategies across cultures?


A) Tastes, preferences, and motivations of people in different cultures are becoming more homogeneous.
B) A common brand name, packaging, and communication strategy cannot be used successfully for multiple products.
C) Communication capabilities and transport systems are standardized across nations.
D) The currencies of the different nations rise and fall together.
E) The effects of globalization are not as widespread as researchers indicate.

F) A) and B)
G) All of the above

Correct Answer

verifed

verified

When conducting a SWOT analysis, an organization will identify opportunities and threats in _____.


A) economic changes in the market
B) its production processes
C) its reputation in the market
D) its products
E) its management team

F) A) and C)
G) A) and E)

Correct Answer

verifed

verified

CL Inc., an L.A.-based shoe manufacturer, develops a ready-to-wear clothing line and markets it in Britain. The company creates a completely new brand image for its clothing line as well. In this scenario, CL Inc. is using a _____ strategy.


A) market development
B) product development
C) market penetration
D) product penetration
E) diversification

F) A) and B)
G) B) and E)

Correct Answer

verifed

verified

Timer, a U.S. based watchmaker, recently entered into a partnership agreement with an Australian firm to make watches. According to the terms of the agreement the firms agreed to pool resources and share losses. What type of partnership agreement does this situation most likely represent?


A) Franchising
B) Licensing arrangement
C) Strategic alliance
D) Joint venture
E) Direct ownership arrangement

F) D) and E)
G) A) and E)

Correct Answer

verifed

verified

Kreme, a biscuit manufacturer, offers retailers a 20% discount on its latest product, Coco-Bite. The discount offer comes with a rider that retailers have to feature the product in their promotional material. Kreme is offering a(n) _____ to its retailers.


A) slotting allowance
B) cash discount
C) seasonal discount
D) advertising allowance
E) cumulative quantity discount

F) None of the above
G) A) and E)

Correct Answer

verifed

verified

When firms collude to set prices for products, it is referred to as _____.


A) price discrimination
B) price fixing
C) predatory pricing
D) tying arrangements
E) exclusive dealing

F) All of the above
G) D) and E)

Correct Answer

verifed

verified

Current size, and expected growth rate, market competitiveness, and market access are a part of the _____ criterion.


A) substantialness
B) profitability
C) identifiability
D) reachability
E) responsiveness

F) C) and E)
G) A) and C)

Correct Answer

verifed

verified

Which of the following is true of rule-of-thumb methods for allocating IMC budgets?


A) It creates a budget by first establishing a set of communication objectives.
B) It uses prior sales to determine the present communication budget.
C) It allots a budget according to the profits made in previous quarters.
D) It requires limited negotiation among managers.
E) It allocates an equal budget for all departments.

F) A) and D)
G) All of the above

Correct Answer

verifed

verified

Which of the following is true of packaging a product?


A) Product repositioning is a cheaper way to attract a new target market than updating a product's packaging.
B) The secondary and primary packages of a product are interchangeable.
C) When products remain untouched, changing their package invariably induces distrust in customers.
D) Changing or updating a product's package is different from method to reposition a product.
E) Consumers are tempted to try products in new packaging.

F) C) and E)
G) A) and D)

Correct Answer

verifed

verified

Which of the following is an advantage of using primary data sources?


A) It requires very little time and effort.
B) It is inexpensive.
C) It does not require any sophisticated training.
D) It offers a lesser scope for bias.
E) It does not require experience to design the study.

F) B) and D)
G) A) and D)

Correct Answer

verifed

verified

Stitch, a bespoke designer boutique, in Florida, caters to over 150 customers every month. The customers usually choose and purchase fabric at the same store and depend on an in-house tailor's recommendations for purchasing the right amount of fabric. If the employees of Stitch overestimate the amount of fabric required or overcharge customers for fabric, they will be violating the value of _____ in the AMA Statement of Ethics.


A) transparency
B) citizenship
C) fairness
D) respect
E) expediency

F) A) and D)
G) C) and E)

Correct Answer

verifed

verified

A particular webpage is used to conduct an online survey and only one in four visitors participates in the survey. If the webpage is visited by an average of 30,000 visitors every day, what the average conversion rate of the webpage?


A) 0%
B) 25%
C) 50%
D) 75%
E) 100%

F) B) and D)
G) A) and B)

Correct Answer

verifed

verified

What should a firm do to create a sustainable advantage based on product excellence?


A) Maintain strong relationships with suppliers and retailers
B) Undertake advertising and brand-building campaigns to reinforce brand positioning
C) Situate stores in all busy shopping areas and malls in a city
D) Develop a script for customer service so that all customers have a consistent experience
E) Introduce customer loyalty programs to retain existing customers

F) A) and B)
G) A) and E)

Correct Answer

verifed

verified

Serenity Inc. exercises reward power over a channel partner when Serenity:


A) offers ACTFast Transporters a monetary incentive to improve transporation speed.
B) it threatens to penalize a supplier for delayed delivery times.
C) holds a channel partner to a contract that the partner signed.
D) dominates a channel partner because it has specialized industry knowledge that the partner lacks.
E) compels a channel partner to follow its directions because the channel partner values the association with Serenity.

F) B) and C)
G) C) and D)

Correct Answer

verifed

verified

Diversification refers to the marketing strategy of


A) increasing sales of current products in current markets.
B) selling current products to new markets.
C) selling new products to new markets.
D) selling new products to current markets.
E) selling the same brands in both current and new markets.

F) A) and E)
G) C) and D)

Correct Answer

verifed

verified

Which of the following is considered the second "E" in 4E framework?


A) Educate the customer
B) Experience the product
C) Excite the customer
D) Engage the customer
E) Experience the service

F) None of the above
G) A) and B)

Correct Answer

verifed

verified

In which of the following cases is a firm making a business decision based on a strength, as identified in a SWOT analysis?


A) Celeborn Foods decided to sell a line of fast food in the Cambrian market as the company's product development team had significant experience in the market.
B) Crichton Inc. decided against opening a business in Cambria when the country's economy suffered a depression.
C) Aeryn Cosmetics decided to intensify its marketing efforts in the market when its closest competitor went out of business.
D) Green Bay Inc. changed its manufacturing process after the government imposed a new tax on one of the ingredients in its product.
E) Orangejello Inc. modified its product in the Cambrian market, to account for local tastes and preferences.

F) All of the above
G) B) and D)

Correct Answer

verifed

verified

When advertising content appears to be native to a platform (a news article, independent website, organic search result) , the ethical thing to do is to:


A) warn users beforehand that the platform contains content from advertisers.
B) make sure that users are led to the advertiser's content before native content.
C) charge the advertiser per click and not per view.
D) make the advertisement stand out by using bright colors for the font and background.
E) conspicuously disclose when content is sponsored by an advertiser.

F) B) and E)
G) B) and C)

Correct Answer

verifed

verified

Showing 101 - 120 of 190

Related Exams

Show Answer