4099 WordsAug 30, 201317 Pages
Ch1 1.The production concept and product concept are orientations that can lead to marketing myopia. Answer True 2.Today, many firms continue to practice mass marketing. Answer False 3. Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs. Answer True 4.Product, price, place and promotion make up the elements of a firm 's marketing mix. Answer True 5. When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Answer False 6. The elements of the extended marketing mix are price, place, promotion and product. Answer False 7. The difference between human needs and…show more content…
According to the text, the three most commonly used measures of marketing performance are: Answer | | share of volume, share of value and brand equity. | | | sales, market share and profits. | | | share of distribution, share of voice and share of wallet. | | | customer lifetime value, share of relationships and customer equity. | | | None of the above. | 21. Consumer research, product development, communication, distribution, pricing, and service are all most accurately described as core ________ activities. Answer | | management | | | customer relationship management | | | exchange | | | marketing | | | production | 22. Delighted customers, known as 'customer evangelists ' are more likely to: Answer | | engage in repeat purchasing. | | | spread the word about their good experiences with a brand or product. | | | become willing brand partners. | | | All of the above. | | | None of the above. | 23. Which of the following statements is not correct? Answer | | It is always appropriate to create a sense of excitement from buying, using and experiencing products. | | | There are instances where creating excitement might be inappropriate. | | | Marketing managers retain customers by ensuring that
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