Question 1 : Which 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 : A 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 : __________ driven approach is an aggressive, push-the-catalogue approach to marketing.
Question 3 options:
Technology
Marketing
Sales
Customer

Question 4 : A 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 : Which 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 : Customers 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 : A 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 : Which of the following refers to multi-channel distribution of products?
Question 8 options:
Organized retailing
Buzz marketing
Clicks and mortar
Viral distribution

Question 9 : The 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 : The interactions that a customer has with a company are termed:
Question 10 options:
experiences.
elucidations.
solutions.
relationships.
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Question 11 : A __________ strategy targets customers who have not yet purchased the product or service.
Question 11 options:
market development
market formation
market penetration
market modification

Question 12 : The 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 : Which 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 : Entering foreign markets is an example of a:
Question 14 options:
market modification strategy.
market development strategy.
market penetration strategy.
product development strategy.

Question 15 : Marketing 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 : When 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 mapping
brand positioning
brand repositioning
brand extension

Question 17 : Identify the stage of the product life cycle where distributors have more power in the relationship with manufactures or service suppliers.
Question 17 options:
Growth stage
Maturity stage
Introduction stage
Decline stage

Question 18 : Market segmentation becomes a key issue in this stage of the product life cycle. Identify the stage.
Question 18 options:
Maturity stage
Growth stage
Decline stage
Introduction stage

Question 19 : Identify the stage of the product life cycle where a large amount of money is spent on consumer promotion.
Question 19 options:
Introduction stage
Decline stage
Growth stage
Maturity stage

Question 20 :  The 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.