1.The __________ is based on three elements: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation.

A.mercantile philosophy

B.hierarchy of needs

C.relationship approach to marketing

D.marketing concept

2.Social media marketing has two distinct dimensions. What are they?

A.Customer orientation and profit

B.The ability to persuade consumers to purchase goods they don't really need, and a production focus

C.Once a product is sold focus on the next customer, and a profit orientation

D.Consumer generated marketing efforts to promote brands and companies, and the use of online tools and platforms by marketers to promote brands and companies

3.A key element of customer relationship management is to:

A.keep the price of goods as low as possible.

B.develop a strategy to achieve the largest possible market share.

C.allow customers to participate in the management of the firm.

D.learn as much as possible about customers.

4.As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in all of the following, except:

A.setting a price for the light fixtures her firm produces.

B.deciding the best way to distribute the firm's products.

C.developing ideas for new types of light fixtures.

D.determining the best way to finance the purchase of a new production equipment.

5.The factor that determines whether a product is classified as a consumer product or an industrial product is:

A.the end use of the product.

B.the decision-making process used to purchase the good or service.

C.what the company CEO decides.

D.whether the good is new or used.

6.Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

A.Firms can avoid the government's anti-trust laws by selecting a small slice of a larger market.

B.This strategy enables a firm to identify common traits in different consumer groups.

C.With limited resources, firms can better satisfy the wants and needs of a smaller target market.

D.Government regulations require firms to maintain accurate records to show that the firm has not discriminated against a market segment.

7.All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. All-Star's approach is an example of:

A.competitive benchmarking.

B.niche marketing.

C.relationship targeting.

D.target positioning.

8.Which of the following is most consistent with a relationship marketing strategy?

A.The development of a web site that seeks customer feedback.

B.The creation of a national advertising campaign using radio and television to increase market share.

C.Designing a promotional campaign to increase cooperation among the firm's suppliers.

D.Distributing goods through limited service discount stores.

9.Susan purchased a new automobile four months ago after struggling to choose between Cadillac and a Rolls Mobile. Even now, after purchasing the Rolls Mobile, she wonders if she made the right choice. Susan is experiencing:

A.customer regret.

B.consumer resonance.

C.conscious regression.

D.cognitive dissonance.

10.Which of the following refers to the place an offering occupies in customers' minds on important attributes relative to competitive products?

A.Product placement

B.Product hierarchy

C.Product merchandising

D.Product positioning