Building Customer Relationships Through Effective Marketing Quiz

1. The four Ps of marketing are Product, Price, Placement (or distribution) and Paparazzi.

True

False

See pages 340-341 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See pages 340-341 in Business (Pride, Hughes, & Kapoor, 2014).

Building Customer Relationships Through Effective Marketing Quiz - Quiz

Here in this quiz, we will focus on building customer relationships through effective marketing. Embark on a journey to master the art of Building Customer Relationships Through Effective Marketing with our insightful quiz. Explore the dynamic landscape of marketing strategies and tactics aimed at fostering lasting connections with customers. This... see morequiz delves into the core principles of customer relationship building, encompassing personalized marketing, brand communication, and customer engagement techniques. Whether you're a marketing professional or an entrepreneur seeking to enhance your customer-centric approach, this quiz provides a platform to assess your understanding of effective relationship-building strategies. Dive into questions that unravel the nuances of customer satisfaction, loyalty programs, and the role of digital channels in modern marketing. Elevate your marketing prowess and take the Building Customer Relationships Through Effective Marketing Quiz to refine your skills and stay ahead in creating impactful customer experiences. This 10-question quiz covers the material presented in Chapter 12 of Business (Pride, Hughes, & Kapoor, 2014). Pride, W. M., Hughes, R. J., & Kapoor, J. R. (2014). Business(12thEd. ). Mason, OH: South-Western, Cengage Learning. see less

2. A sales forecast is an estimate of the amount of a product that an organization expects to sell during a certain period of time based on a specified level of marketing effort.

True

False

See page 343 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See page 343 in Business (Pride, Hughes, & Kapoor, 2014).

3. Utility is the ability of a good or service to satisfy a human need. This may include form utility, place utility, time utility, and possession utility.

True

False

See pages 333-334 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See pages 333-334 in Business (Pride, Hughes, & Kapoor, 2014).

4. CRM or customer relationship management may include (select the best answer):

Utilizing relationship marketing to establish long-term, mutually satisfying buyer-seller relationships.

Marketing decisions and activities focused on achieving long-term, satisfying relationships with customers.

All of the above

CRM entails all of the above. See pages 332-333 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

CRM entails all of the above. See pages 332-333 in Business (Pride, Hughes, & Kapoor, 2014).

5. A marketing plan is a written document that specifies an organization's (select the best answer):

Resources to be used in marketing a specific product or product group.

Objectives and marketing strategy to be used in marketing a specific product or product group.

Implementation and control efforts to be used in marketing a specific product or product group.

All of the above.

See page 342 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See page 342 in Business (Pride, Hughes, & Kapoor, 2014).

6. Laws that protect consumers and competition and government regulations that affect marketing are known as (select the best answer):

Economic forces

Sociocultural forces

Political forces

Competitive forces

Legal and regulatory forces

Technological forces

See page 342 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See page 342 in Business (Pride, Hughes, & Kapoor, 2014).

7. The steps of marketing research include (check all that apply):

Define the problem.

Make a preliminary investigation.

Plan the research.

Provide coffee and doughnuts for all researchers.

Gather factual information.

Interpret the information.

Reach a conclusion.

See page 345 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See page 345 in Business (Pride, Hughes, & Kapoor, 2014).

Submit

8. In the undifferentiated approach to marketing, a company (select the best answer):

Designs a single marketing mix and directs it at a single market segment.

Designs multiple marketing mixes and directs them at multiple market segments.

Designs a single marketing mix and directs it at the entire market for a particular product.

None of the above.

See pages 337-339 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See pages 337-339 in Business (Pride, Hughes, & Kapoor, 2014).

9. The marketing concept is a business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allow the firm to achieve its objectives. To accomplish this, the firm must (check all that apply):

Communicate with potential customers to assess their product needs.

Discover ways to cut costs and increase profitability.

Develop a good or service to satisfy those needs.

Continue to seek ways to provide customer satisfaction.

See page 334 in Business (Pride, Hughes, & Kapoor, 2014).

Explanation

See page 334 in Business (Pride, Hughes, & Kapoor, 2014).

Submit

10. Discretionary income is defined as (select the best answer):

The income an individual receives from all sources less the Social Security taxes the individual must pay.

Personal income less all additional personal taxes.

Disposable income less savings and expenditures on food, clothing, and housing.