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Exam 11: Building Customer Relationships Through Effective Marketing

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Question 71

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How is relationship marketing related to the marketing concept?

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Relationship marketing is a facet of the...

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Question 72

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There are four kinds of utility: time, form, place, and price.

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Question 73

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Market segmentation means dividing consumers according to their wants, income, and geographic location.

Betty and Carole recently opened a local candy store.They considered the entire market of candy eaters as their market.Which targeting strategy did they use in choosing a target market for their store?

Consumers are usually better informed than business buyers about the products they buy.

A market segment toward which a company directs its marketing effort is called a _____.

To implement the marketing concept, a firm must first

Which of the following is not a step in the consumer buying decision process?

Joseph Kuhn was trained as an engineer, but recently he has been assigned the marketing responsibility for his company.In his role as a marketer, he wants to know what marketing can and cannot control.You indicate that marketing cannot control

A marketing plan specifies an organization's resources, objectives, strategies and implementation, and control efforts to be used in marketing a specific product or product group.

A firm should have no more than one market segment in its marketing strategy.

The utility created by converting production inputs into finished products is called ____ utility.

The utility created by making a product available when customers wish to purchase it is called ____ utility.

What are the major steps in the consumer buying decision process? Describe the factors that are believed to affect this process.

Jim Wilson is trying out for his high school varsity basketball team.Jim feels he needs an extra advantage to ensure that he makes the team, so he goes to Foot Locker.Once at the store, he chooses the best looking and most expensive shoes the store carries.Jim's buying process is influenced most by ____ factors.

Caroline's Crafts 'N Things Sarah works for a retail shop called Caroline's Crafts 'N Things.Sarah was often quite rude to customers when they annoyed her.One morning, her supervisor asked Sarah into her office and informed her that her behavior was unacceptable.To be rude to one customer could cause several customers not to come back.Sarah's supervisor told her that retaining a customer is much cheaper than trying to get a new one.After their constructive discussion, Sarah's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers. Over the next few months, Sarah began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another.In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job.She started to think about the future of the company.She even thought that the company could do very well if it were to sell its products on eBay.When she brought this idea to her boss, her boss thought it was excellent, and asked Sarah to look further into the pros and cons of her idea. After evaluating Sarah's research, her boss decided to move forward with the idea, asking Sarah to head up this new venture for the company.Sarah then realized that retail is not just about making the sale; the customer should be the focus of all operations.Sarah now looks up to her boss, and is very glad that she was there to mentor her. -Refer to Caroline's Crafts 'N Things.Caroline's purchased its Thanksgiving products in June.However, in October, when the store finally displays the Thanksgiving products, which form of utility is being provided?

The utility created by transferring ownership of a product to a buyer is called ____ utility.

The evolution of customer orientation started with businesses having a strong sales orientation, followed by a production orientation, and finally a customer orientation.

The process of dividing a market into segments is called _____.

Business-to-business markets include all of the following except ____ markets.