general business data bank

Question # 00003438 Posted By: spqr Updated on: 11/12/2013 01:17 AM Due on: 11/30/2013
Subject Marketing Topic Marketing Tutorials:
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Multiple Choice

1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering.

a. Profit-centered companies

b. Customer-centered companies

c. Production-centered companies

d. Sales-centered companies

e. Promotion-centered companies

2. The opening vignette on Washington Mutual indicates that, as the Washington Mutual experience shows, successful marketers are the ones that fully ________.

a. understand promotional strategy

b. diversify their product line

c. divorce themselves from a production mentality

d. satisfy their customers

e. understand the sales concept

3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid?

  1. Sales are at the top of the organizational pyramid.
  2. The president is at the top of the organizational pyramid.
  3. Front-line people are at the top of the organizational pyramid.
  4. Customers are at the top of the organizational pyramid.
  5. Middle management, because of their importance, is at the top of the organizational pyramid.

4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

a. Perceived usefulness

b. Failure avoidance rate

c. Report rating

d. Customer perceived value

e. Competitors market share rate

5. Total customer value is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering.

a. psychological

b. intangible

c. realized

d. fabricated

e. advertised

6. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the ________.

a. organizational expense ratio

b. shopper’s fatigue

c. total customer cost

d. analysis paralysis

e. comparison shopping to comparison buying ratio

7. In applying a customer’s perceived value to a decision, a seller who is at a customer perceived value disadvantage has two alternatives: to increase total customer value or ________.

a. increase a cash-back bonus

b. decrease cost

c. lose the sale to the competitor

d. advertise more frequently

e. offer an extended warranty


8. The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering.

a. customer promise

b. mission statement

c. corporate pledge

d. corporate perceived value

e. value proposition


9. Total customer satisfaction is measured based on the relationship of ________.

a. anticipated and real performance

b. perceived performance and expectation

c. advertised outcomes and real outcomes

d. past experience and present experience

e. customer attitude and salesperson’s attitude


10. Buyers form their expectations from all of the following EXCEPT ________.

a. past buying experience

b. friends and associates advice

c. marketers’ information

d. competitors’ information

e. governmental newsletters


11. JetBlue is able to meet or exceed customer expectations of low price air travel in part to a few corporate commandments like: safety, caring, integrity, fun and passion. JetBlue refers to these as ________.

a. teamwork parables

b. values

c. satisfaction indices

d. customer focus statements

e. JetBlue benefits


12. A customer’s decision to be loyal or to defect is the sum of many small encounters with the company. Consulting firm Forum Corporation says that in order for all these small encounters to add up to customer loyalty, companies need to create ________.

a. a reward program

b. a comprehensive customer database

c. a branded customer experience

d. strong word-of-mouth promotions

e. a top-notch advertising campaign


13. One key to customer retention is ________. It would be wise for a company to measure this factor frequently.

a. heavy promotion

b. deep discounts for intermediaries

c. to have an ethics officer

d. customer satisfaction

e. to have customers on the board of directors


14. The best survey method to measure customer satisfaction directly is ________.

a. to employ a mystery shopper

b. the mailed questionnaire

c. to survey former customers

d. periodic surveys

e. compute the customer loss rate


15. Which of the following firms leads its industry with a number one ranking for customer satisfaction on the ACSI scale (American Consumer Satisfaction Index) with a score of 87?

a. Cadillac

b. Ford

c. Chrysler

d. Chevrolet

e. Corvette


16. ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

a. Performance

b. Value

c. Quality

d. Customer retention

e. Customer loyalty


17. Total quality is the key to value creation and customer satisfaction. Marketing managers have two roles to play in a quality-centered company. First, they must participate in formulating strategies and policies to help the company win through total quality excellence. Second, they must­­­ ________.

a. participate in cross-functional team building

b. deliver marketing quality alongside production quality

c. define customer requirements during the innovation stage of the product life cycle

d. set expectations both internally and externally

e. work closely with the sales team to create a dynamic sales message


18. ________ is an organization-wide approach to continuously improving the quality of all the organization’s processes, products, and services.

a. Total quality management

b. Strategic management

c. Profit-centered management

d. Customer-retention management

e. Total customer control management

19. The 20-80-30 rules reflects the idea that ________.

a. the top 20 percent of customers generate 80 percent of the company’s profits, half of which are lost serving the bottom 30 percent of unprofitable customers

b. the top 20 percent of customers are highly satisfied, 80 percent of customers will recommend the company to a friend, and 30 percent are unsatisfied

c. 20 percent of customers are unprofitable, 80 percent of customers make up 30 percent of a company’s profits

d. 20 percent of the company’s profits are generated by 80 percent of customers, and 30 percent of customers are satisfied

e. any new product offering will be accepted by 20 percent of the customers immediately, this figure will eventually rise to 30 percent, however, 80 percent of the customers will be up for grabs throughout the product life cycle for the product

20. Most companies have learned that the ________ are the most profitable because of service expectations and their willingness to pay almost full price for the products they purchase.

a. large-size customers

b. midsize customers

c. small-size customers

d. niche customers

e. target market customers

21. A ________ customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company’s cost stream of attracting, selling, and servicing that customer.

a. profitable

b. semi-profitable

c. unprofitable

d. niche

e. target

22. Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called ________.

a. input-output analysis

b. factor analysis

c. Revenue-Based Costing (RBC)

d. Activity-Based Costing (ABC)

e. Future Date Costing (FDC)

23. Which of the following is the best example of what is called a leverageable advantage?

a. Dell avoiding selling its products in retail stores.

b. Apple winning design awards and producing unique commercials.

c. Microsoft’s use of its operating system to Microsoft Office as a means to supply networking applications.

d. Southwest Airlines winning the J.D. Power award.

e. American tobacco companies attempts to diversify their holdings after the famous tobacco case losses.

24. Taco Bell has determined that keeping customers satisfied can be very profitable. A repeat customer in Taco Bell’s eyes can be worth as much as ________ over the customer’s lifetime.

a. $100,000

b. $61,000

c. $35,000

d. $11,000

e. $2,000

25. The aim of customer relationship management (CRM) is to produce high customer ________.

a. value

b. loyalty

c. profitability

d. satisfaction

e. equity

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