MARK166-Chapter 1

Question 1

Customers who are classified as true believers ________.

Accepted Answer

tell others about their good experiences with a company

Question 2

Ford&#x27;s philosophy was to perfect the Model-T to reduce costs for increased consumer affordability. This concept is ____.

Accepted Answer

production concept

Question 3

According to the five-step model of the marketing process, the first step in marketing is ________.

Accepted Answer

understanding the marketplace and customer needs and wants

Question 4

The process of exceeding a customer&#x27;s expectations to create a positive experience with your product or brand.

Accepted Answer

Customer delight

Question 5

_______ ______ is a key to building profitable relationships with consumers—to reap their customer lifetime value.

Accepted Answer

Customer satisfaction

Question 6

Customer-driven marketing is most effective when ________.

Accepted Answer

Clear needs exist and customers know what they want

Question 7

Marketing decisions considering consumers’ wants, the company’s requirements, consumers’ & society&#x27;s long-run interests.

Accepted Answer

societal marketing

Question 8

At Disney World, employees are called cast members.

Accepted Answer

True

Question 9

Consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.

Accepted Answer

Selling Concept

Question 10

________ are the form human needs take as they are shaped by culture and individual personality.

Accepted Answer

Wants

Question 11

British Columbia-based Flair Airlines gives you "Canada&#x27;s ticket to ultra-low airfares" is their ________.

Accepted Answer

value proposition

Question 12

Abel can now purchase the computer that he wanted to buy six months ago. Abel&#x27;s want has most likely become a demand.

Accepted Answer

True

Question 13

Marketing, more than any other business function, deals with ________.

Accepted Answer

customers

Question 14

Highly loyal but not very profitable.

Accepted Answer

Barnacle

Question 15

Dollarama profitably appeals to families with more modest means. The retailer&#x27;s approach is referred to as ________.

Accepted Answer

target marketing

Question 16

Which statement closely relates to the societal marketing concept?

Accepted Answer

Create economic value for the company and the surrounding environment

Question 17

Which of the following transforms marketing strategies into real values for consumers?

Accepted Answer

the four Ps of marketing

Question 18

Consumers&#x27; needs and wants are fulfilled through ________.

Accepted Answer

market offerings

Question 19

Total income a business can expect to from a typical customer for as long as that person or account remains a client.

Accepted Answer

Capturing customer lifetime value

Question 20

Which of the following concepts calls for sustainable marketing?

Accepted Answer

the societal marketing concept

Questions 20