Building Customer Relationships Through Effective Marketing Quiz

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| By Susanjoypaul

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Quizzes Created: 6 | Total Attempts: 2,323

Questions: 10 | Attempts: 557 | Updated: Dec 26, 2023

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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 quiz 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 Read moreunravel 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.

Questions and Answers

1.

CRM or customer relationship management may include (select the best answer):
- A.
  
  Utilizing relationship marketing to establish long-term, mutually satisfying buyer-seller relationships.
- B.
  
  Marketing decisions and activities focused on achieving long-term, satisfying relationships with customers.
- C.
  
  Determining a customer lifetime value, or the measure of a customer's worth (sales minus cost) to a business over one's lifetime.
- D.
  
  All of the above
Correct Answer
D. All of the above

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

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2.

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.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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

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3.

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):
- A.
  
  Communicate with potential customers to assess their product needs.
- B.
  
  Discover ways to cut costs and increase profitability.
- C.
  
  Develop a good or service to satisfy those needs.
- D.
  
  Continue to seek ways to provide customer satisfaction.
Correct Answer(s)
A. Communicate with potential customers to assess their product needs.
C. Develop a good or service to satisfy those needs.
D. Continue to seek ways to provide customer satisfaction.

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

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4.

In the undifferentiated approach to marketing, a company (select the best answer):
- A.
  
  Designs a single marketing mix and directs it at a single market segment.
- B.
  
  Designs multiple marketing mixes and directs them at multiple market segments.
- C.
  
  Designs a single marketing mix and directs it at the entire market for a particular product.
- D.
  
  None of the above.
Correct Answer
C. Designs a single marketing mix and directs it at the entire market for a particular product.

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

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5.

The four Ps of marketing are Product, Price, Placement (or distribution) and Paparazzi.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

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

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6.

A marketing plan is a written document that specifies an organization's (select the best answer):
- A.
  
  Resources to be used in marketing a specific product or product group.
- B.
  
  Objectives and marketing strategy to be used in marketing a specific product or product group.
- C.
  
  Implementation and control efforts to be used in marketing a specific product or product group.
- D.
  
  All of the above.
Correct Answer
D. All of the above.

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

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7.

Laws that protect consumers and competition and government regulations that affect marketing are known as (select the best answer):
- A.
  
  Economic forces
- B.
  
  Sociocultural forces
- C.
  
  Political forces
- D.
  
  Competitive forces
- E.
  
  Legal and regulatory forces
- F.
  
  Technological forces
Correct Answer
E. Legal and regulatory forces

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

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8.

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.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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

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9.

Discretionary income is defined as (select the best answer):
- A.
  
  The income an individual receives from all sources less the Social Security taxes the individual must pay.
- B.
  
  Personal income less all additional personal taxes.
- C.
  
  Disposable income less savings and expenditures on food, clothing, and housing.
- D.
  
  Income that is spent discreetly, or in secret.
Correct Answer
C. Disposable income less savings and expenditures on food, clothing, and housing.

Explanation
See page 349 in Business (Pride, Hughes, & Kapoor, 2014).

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10.

The steps of marketing research include (check all that apply):
- A.
  
  Define the problem.
- B.
  
  Make a preliminary investigation.
- C.
  
  Plan the research.
- D.
  
  Provide coffee and doughnuts for all researchers.
- E.
  
  Gather factual information.
- F.
  
  Interpret the information.
- G.
  
  Reach a conclusion.
Correct Answer(s)
A. Define the problem.
B. Make a preliminary investigation.
C. Plan the research.
E. Gather factual information.
F. Interpret the information.
G. Reach a conclusion.

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

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Current Version
Dec 26, 2023

Quiz Edited by
ProProfs Editorial Team
Jun 03, 2015

Quiz Created by
Susanjoypaul

Building Customer Relationships Through Effective Marketing Quiz

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

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.

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):

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

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

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

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

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.

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

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