ABDT2043 FUNDAMENTALS OF MARKETING

TUTORIAL 1 WEEK 1
MARKETING: CREATING AND CAPTURING CUSTOMER VALUE
Multil!"#$%i#! &u!'ti%('
1) Which of the following is most essential to any definition of marketing?
A) Demand management
B) The production concept
C) Customer relationships
D) Making a sale
) Making a profit
!) "reg Williams now has the #uying power to purchase the computer system he has
wanted for the last si$ months% "reg&s want now has #ecome a ''''''''%
A) need
B) necessity
C) demand
D) satisfier
) transaction
() The '''''''' steps of the fi)e*step marketing process are a#out understanding
customers+ creating customer )alue+ and #uilding strong customer relationships%
A) first two
B) first three
C) first four
D) last three
) last four
,) Which of the following is an e$ample of a type of market offering?
A) -ersons
B) .deas
C) .nformation
D) $periences
) All of the a#o)e
/) '''''''' refers to sellers #eing preoccupied with their own products and losing
sight of underlying consumer needs%
A) 0elling myopia
B) Marketing management
C) 1alue proposition
D) Marketing myopia
) The product concept
1
2) .n addition to attracting new customers and creating transactions+ the goal of
marketing is to '''''''' customers and grow the company&s #usiness%
A) encourage
B) entertain
C) retain
D) recogni3e
) educate
Answer4 C -age 5ef4 6
7) The art and science of choosing target markets and #uilding profita#le relationships
with them is called ''''''''%
A) marketing management
B) positioning
C) segmentation
D) selling
) societal marketing
6) 0electing which segments of a population of customers to ser)e is called ''''''''%
A) market segmentation
B) positioning
C) customi3ation
D) target marketing
) choosing a )alue proposition
8) The set of marketing tools a firm uses to implement its marketing strategy is called
the ''''''''%
A) promotion mi$
B) product mi$
C) marketing mi$
D) T9M
) marketing effort
1:) Which of the following marketing management orientations focuses primarily on
impro)ing efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
) societal marketing concept
11) The '''''''' concept holds that firms must stri)e to deli)er )alue to customers in
a way that maintains or impro)es #oth the consumer&s and society&s well #eing%
A) marketing
B) selling
C) product
D) societal marketing
!
) e;uity
1!) The three areas of consideration that should #e #alanced in the societal marketing
concept are consumer wants+ society&s interests+ and ''''''''%
A) human welfare
B) want satisfaction
C) company profits
D) short*run wants
) long*term needs
1() Building and maintaining profita#le )alue*laden relationships with customers of a
company is called ''''''''%
A) customer lifetime )alue
B) customer percei)ed )alue
C) customer relationship management
D) data#ase marketing
) societal marketing
1,) Which of the following is determined #y a customer&s personal e)aluation of the
#enefits and costs of a market offering relati)e to those of competing offers?
A) Customer*percei)ed )alue
B) Customer satisfaction
C) Customer*percei)ed performance
D) Customer relationship management
) Market segmentation
1/) The marketing world is em#racing '''''''' #ecause consumers can wield greater
power and control in the marketplace through communication technologies%
A) partner relationship management
B) supply chain management
C) customer*managed relationships
D) market segmentation
) target marketing
12) 0tew <eonard+ owner=operator of supermarkets+ reacts ad)ersely to losing a single
customer sale% >e feels that this amounts to losing the entire stream of future
purchases that a customer is likely to make if he or she remains in the area% This is
an illustration of ''''''''%
A) share of customer
B) market share
C) profita#ility
D) customer lifetime )alue
) market share maintenance
17) Which of the following has ?@T contri#uted to the deeper+ more interacti)e nature
of today&s customer relationships?
(
A) e*mail
B) We# sites
C) online social networks
D) traditional ad)ertising
) )ideo sharing
16) To capture the full essence of customer relationship management+ which of the
following should a marketing manager take into consideration?
A) owning customers for life
B) capturing a customer&s lifetime )alue
C) #uilding o)erall customer e;uity
D) creating a sense of community surrounding a #rand
) all of the a#o)e
18) The social*responsi#ility and en)ironmental mo)ements are e$pected to ''''''''
in the future%
A) demand more from companies
B) demand less from companies
C) mo)e away from sustaina#le marketing
D) mo)e toward partner relationship management
) mo)e away from using social networking
!:) The first four steps of the marketing process focus on ''''''''%
A) understanding the market
B) deli)ering customer ser)ice
C) creating )alue for customers
D) understanding customer demands and needs
) capturing )alue from customers
T)u!*F+l'! &u!'ti%('
!1) The twofold goal of marketing is to attract new customers #y promising superior
)alue and to keep and grow current customers #y deli)ering satisfaction%
AT=B)
!!) When #acked #y #uying power+ needs #ecome wants%
AT=B)
!() Deli)ering superior customer )alue and customer satisfaction are the two keys to
#uilding lasting customer relationships%
AT=B)
!,) .t is cheaper for a company to ac;uire new customers than to maintain relationships
with current customers%
AT=B)
Briefing on Course Plan, Coursework and Examination formats.
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