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STR581 Final 4

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1) Total customer satisfaction is the general feeling of pleasure or disappointment that results
from comparing perceived performance to expectations. To achieve total customer satisfaction,
organizations need to_____________.
A. Lower prices
B. Spend more money
C. Lower expectations
D. Develop marketing campaigns
E. Manage customer experiences
2) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and
distribute needed, timely, and accurate information to marketing decision makers.
A. A marketing database
B. A marketing research system
C. A promotional campaign
D. A marketing information system
E. A marketing intelligence system
3) A company can take several steps to improve the quality of its marketing intelligence. If the
company purchases competitive products for study, attends open houses and trade shows, and
reads competitors’ published reports and stockholder information, the company is using
________ to improve the quality of its marketing intelligence.
A. customer feedback systems
B. intermediaries
C. advisory panels
D. sales force surrogates
E. external networks
4) A ________ is a set of procedures and sources managers use to obtain everyday information
about developments in the marketing environment.

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A. vertical system
B. marketing information system
C. marketing intelligence system
D. marketing research system
E. product management system
5) A(n) ________ is any good, service, or idea that is perceived by someone as new.
A. creative product
B. product
C. new idea
D. innovation
6) Most established companies focus on ________ when it comes to innovation.
A. competitive innovation
B. continuous innovation
C. demand innovation
D. incremental innovation
E. everyday innovation
7) The value proposition consists of a cluster of benefits the company promises to deliver; it is
A. business processes
B. customer experience with the company
C. customer expectations
D. Customer loyalty to the company
E. total customer satisfaction

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8) In ________ marketing, the seller engages in the mass production, mass distribution, and mass
promotion of one product for all buyers.
A. differentiated
B. mass
C. segmented
D. group
E. general
9) A firm has to consider many factors in setting its pricing policy. We list these as a six-step
process. Which of the following is NOT one of these steps?
A. Selecting a pricing method.
B. Selecting the final price.
C. Selecting the pricing objective.
D. Researching reference prices in the target market.
E. Determining demand.
10) ________ is the result of a concentrated effort by designers, engineers, and purchasing agents
to reduce the product’s overall costs.
A. Experience curve
B. Least cost producer
C. Target costing
D. Learning curve
11) Which of the following types of marketing research firms would best be described as one that
gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?
A. Non-profit marketing research firms
B. General-line marketing research firms
C. Syndicated-service research firms

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