QuestionQuestion 1 (1 point) Question 1 UnsavedWhich of the following statements supports technology driven approach to the marketplace?Question 1 options:Customer information systems can be used to increase sales.Providing technology to salespeople can help increase volumes.Products should be tested and proven before releasing them.Quality improvement in products can result in customer value.Question 2 (1 point) Question 2 UnsavedA few customers cost more to serve than the revenues they generate. Identify the most appropriate way to handle these customers.Question 2 options:Avail preferential treatment to these customers.Provide services at a discounted rate to these customers.Design specific marketing messages for these customers.Attempt to turn away the unprofitable customers.Question 3 (1 point) Question 3 Unsaved__________ driven approach is an aggressive, push-the-catalogue approach to marketing.Question 3 options:TechnologyMarketingSalesCustomerQuestion 4 (1 point) Question 4 UnsavedA company that follows the marketing concept philosophy should:Question 4 options:serve only profitable customers.serve all customer needs at all costs.understand that the customer is always right.understand that there is no such thing as a bad customer.Question 5 (1 point) Question 5 UnsavedWhich of the following is a disadvantage of sales driven approach?Question 5 options:It might not deliver long term value to customers.It uses inexperienced sales personnel.It is not suitable for services such as banking.The company cannot make profits.Question 6 (1 point) Question 6 UnsavedCustomers will not always be able to tell you what products they want and need because:Question 6 options:customers are aware of only the problems that they have.customers are not conscious about the cost of product development.a marketer may not have direct contact with the customer.the solutions suggested by customers will not be feasible.Question 7 (1 point) Question 7 UnsavedA company takes a product or service that is widely marketed and develops a system for customizing it to each customer’s specifications. This is referred to as:Question 7 options:selective marketing.behavioral targeting.user modeling.mass customization.Question 8 (1 point) Question 8 UnsavedWhich of the following refers to multi-channel distribution of products?Question 8 options:Organized retailingBuzz marketingClicks and mortarViral distributionQuestion 9 (1 point) Question 9 UnsavedThe value of a product or service can be quantified by calculating:Question 9 options:the lifetime value of the customer base.the total sales value of the product.the total number of active customers.the total cost of the product/service.Question 10 (1 point) Question 10 UnsavedThe interactions that a customer has with a company are termed:Question 10 options:experiences.elucidations.solutions.relationships.Previous PageNext PageQuestion 11 (1 point) Question 11 UnsavedA __________ strategy targets customers who have not yet purchased the product or service.Question 11 options:market developmentmarket formationmarket penetrationmarket modificationQuestion 12 (1 point) Question 12 UnsavedThe best method of attaining a low-cost position is to:Question 12 options:take advantage of economies of scale and experience curve.take advantage of global raw material acquisition.take advantage of non-union workers.send production to low-wage countries.Question 13 (1 point) Question 13 UnsavedWhich of the following is a characteristic of a competitive advantage?Question 13 options:It generates customer value.It increases cost of the product.It makes the product more accessible for the customers.It makes the product more user-friendly.Question 14 (1 point) Question 14 UnsavedEntering foreign markets is an example of a:Question 14 options:market modification strategy.market development strategy.market penetration strategy.product development strategy.Question 15 (1 point) Question 15 UnsavedMarketing managers use a market penetration strategy to target:Question 15 options:individuals who have never used the product or service.offshore customers who have a need for the product or service.individuals who buy closely-related products or services.individuals who are buying your product or service or a direct competitor’s.Question 16 (1 point) Question 16 UnsavedWhen a marketing manager is dissatisfied with the current positioning of his/her product or service and seeks a new perceived advantage, it is called:Question 16 options:perceptual mappingbrand positioningbrand repositioningbrand extensionQuestion 17 (1 point) Question 17 UnsavedIdentify the stage of the product life cycle where distributors have more power in the relationship with manufactures or service suppliers.Question 17 options:Growth stageMaturity stageIntroduction stageDecline stageQuestion 18 (1 point) Question 18 UnsavedMarket segmentation becomes a key issue in this stage of the product life cycle. Identify the stage.Question 18 options:Maturity stageGrowth stageDecline stageIntroduction stageQuestion 19 (1 point) Question 19 UnsavedIdentify the stage of the product life cycle where a large amount of money is spent on consumer promotion.Question 19 options:Introduction stageDecline stageGrowth stageMaturity stageQuestion 20 (1 point) Question 20 UnsavedThe value of a brand name in communicating quality or other aspects of the product is called:Question 20 options:value equity.brand position.strategic value.brand equity.