,Partner relationship management involves building relationships with employees and customers
but not suppliers.
False
When backed by buying power, needs become wants.
False
There are occasions when a firm should legitimately practice demarketing in order to manage its
demand levels.
True
New communication technologies create challenges as well as advantages for marketers.
True
Amy's law office has developed a new format and wording for wills. Staff believe that they offer
superior quality, performance and innovative features. Her law office is practicing the production
concept.
False
Customer-perceived value is defined as the customer's evaluation of the perceived difference
between all the benefits and all the costs of a marketing offer relative to those of competing
offers.
True
The elements of the extended marketing mix are price, place, promotion and product.
False
A customer-centred organisation seeks to maximise customer satisfaction.
False
A firm has high customer equity when it has a high proportion of loyal, profitable customers.
True
The difference between human needs and wants is that needs are not influenced by marketers.
True
It is cheaper for a company to acquire new customers than to maintain relationships with current
customers.
False
The production concept and product concept are orientations that can lead to marketing myopia.
True
,The societal marketing concept calls on marketers to balance consumer wants and desires,
company profits and society's interest.
True
In its broadest sense, customer relationship management (CRM) is a customer data management
activity.
False
When sellers focus on existing needs and lose sight of underlying customer wants, they suffer
from marketing myopia.
False
Beyond offering consistently high value and satisfaction, marketers can use specific marketing
tools to develop stronger bonds with consumers.
True
A company with many low-margin customers may seek to develop basic relationships with
customers while companies operating in markets with few customers and high margins want to
create full partnerships with key customers.
True
Today, many firms continue to practice mass marketing.
False
Two important questions underlying marketing strategy are 'Who is our target market?' and
'What's our value proposition?'.
True
Market offerings can include products, services, information or experiences offered to a market
to satisfy a need or want.
True
The twofold goal of marketing is to attract new customers by promising superior value and to
keep and grow current customers by delivering satisfaction.
True
The major difference between customer-driving marketing and customer-driven marketing is that
the customer-driving marketing considers only existing needs.
False
Marketers should look beyond the attributes of the products and services they sell to also create
brand experiences for consumers.
True
, The selling concept holds that consumers will not buy enough of the firm's products unless it
undertakes a large-scale selling and promotion effort.
True
Modern thinking is that marketing is done only by marketing, sales and
customer-support personnel.
False
Human needs are shaped by culture and individual personality.
False
Market offerings are limited to physical products.
False
Specific marketing tools designed to build and enhance customer relationships include club
marketing programs and frequency programs.
True
Customer-perceived value depends on the product's perceived performance relative to a buyer's
expectations.
False
Product, price, place and promotion make up the elements of a firm's marketing mix.
True
Delivering superior customer value and customer satisfaction are the two keys to building lasting
customer relationships.
True
The relationship segment known as 'butterflies' are profitable, but not loyal. Marketers should
engage in efforts to convert butterflies into loyal customers.
False
Delivering superior customer value and customer satisfaction are the two keys to building
lasting customer relationships.
True
Customer-perceived value depends on the product's perceived performance relative to a
buyer's expectations
False
A church targeting different demographic groups to increase attendance is an example of
________.
not-for-profit marketing
but not suppliers.
False
When backed by buying power, needs become wants.
False
There are occasions when a firm should legitimately practice demarketing in order to manage its
demand levels.
True
New communication technologies create challenges as well as advantages for marketers.
True
Amy's law office has developed a new format and wording for wills. Staff believe that they offer
superior quality, performance and innovative features. Her law office is practicing the production
concept.
False
Customer-perceived value is defined as the customer's evaluation of the perceived difference
between all the benefits and all the costs of a marketing offer relative to those of competing
offers.
True
The elements of the extended marketing mix are price, place, promotion and product.
False
A customer-centred organisation seeks to maximise customer satisfaction.
False
A firm has high customer equity when it has a high proportion of loyal, profitable customers.
True
The difference between human needs and wants is that needs are not influenced by marketers.
True
It is cheaper for a company to acquire new customers than to maintain relationships with current
customers.
False
The production concept and product concept are orientations that can lead to marketing myopia.
True
,The societal marketing concept calls on marketers to balance consumer wants and desires,
company profits and society's interest.
True
In its broadest sense, customer relationship management (CRM) is a customer data management
activity.
False
When sellers focus on existing needs and lose sight of underlying customer wants, they suffer
from marketing myopia.
False
Beyond offering consistently high value and satisfaction, marketers can use specific marketing
tools to develop stronger bonds with consumers.
True
A company with many low-margin customers may seek to develop basic relationships with
customers while companies operating in markets with few customers and high margins want to
create full partnerships with key customers.
True
Today, many firms continue to practice mass marketing.
False
Two important questions underlying marketing strategy are 'Who is our target market?' and
'What's our value proposition?'.
True
Market offerings can include products, services, information or experiences offered to a market
to satisfy a need or want.
True
The twofold goal of marketing is to attract new customers by promising superior value and to
keep and grow current customers by delivering satisfaction.
True
The major difference between customer-driving marketing and customer-driven marketing is that
the customer-driving marketing considers only existing needs.
False
Marketers should look beyond the attributes of the products and services they sell to also create
brand experiences for consumers.
True
, The selling concept holds that consumers will not buy enough of the firm's products unless it
undertakes a large-scale selling and promotion effort.
True
Modern thinking is that marketing is done only by marketing, sales and
customer-support personnel.
False
Human needs are shaped by culture and individual personality.
False
Market offerings are limited to physical products.
False
Specific marketing tools designed to build and enhance customer relationships include club
marketing programs and frequency programs.
True
Customer-perceived value depends on the product's perceived performance relative to a buyer's
expectations.
False
Product, price, place and promotion make up the elements of a firm's marketing mix.
True
Delivering superior customer value and customer satisfaction are the two keys to building lasting
customer relationships.
True
The relationship segment known as 'butterflies' are profitable, but not loyal. Marketers should
engage in efforts to convert butterflies into loyal customers.
False
Delivering superior customer value and customer satisfaction are the two keys to building
lasting customer relationships.
True
Customer-perceived value depends on the product's perceived performance relative to a
buyer's expectations
False
A church targeting different demographic groups to increase attendance is an example of
________.
not-for-profit marketing
