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Exam 11: Building Customer Relationships Through Effective Marketing

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Question 61

True/False

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Sales are only forecast in the long range, covering more than five years.

A) True
B) False

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Question 62

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One way to segment a market is according to whether the purchaser is a consumer or a business-to-business user.

A) True
B) False

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Question 63

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Bic ballpoint pens appeal to price-conscious consumers because of their affordability.Bic has segmented its market on a ____ basis.

Club Med Inc.talks to its present and potential customers to assess their needs for its products.Then it develops products to satisfy those needs.The firm is thus applying the ____ concept.

Leslie studies how individuals go about purchasing products for their personal consumption and what factors influence these decisions.Leslie studies _____.

From the start of the Industrial Revolution until the early twentieth century, business had a strong production orientation.

The exchange function involves only buying, selling, and transporting.

Caroline's Crafts 'N Things Sarah works for a retail shop called Caroline's Crafts 'N Things.Sarah was often quite rude to customers when they annoyed her.One morning, her supervisor asked Sarah into her office and informed her that her behavior was unacceptable.To be rude to one customer could cause several customers not to come back.Sarah's supervisor told her that retaining a customer is much cheaper than trying to get a new one.After their constructive discussion, Sarah's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers. Over the next few months, Sarah began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another.In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job.She started to think about the future of the company.She even thought that the company could do very well if it were to sell its products on eBay.When she brought this idea to her boss, her boss thought it was excellent, and asked Sarah to look further into the pros and cons of her idea. After evaluating Sarah's research, her boss decided to move forward with the idea, asking Sarah to head up this new venture for the company.Sarah then realized that retail is not just about making the sale; the customer should be the focus of all operations.Sarah now looks up to her boss, and is very glad that she was there to mentor her. -Refer to Caroline's Crafts 'N Things.Doing business on eBay allows an entrepreneur to

Kelly Warren owns a frozen yogurt shop.She has decided to focus her marketing efforts on health-conscious customers.Kelly is using the ____ approach.

What is a company sales forecast? Why is it important to the sales department as well as to the people who handle raw materials inventory, finished-goods inventory, hiring, and advertising?

Coca-Cola wants to determine how popular its new soft drink will be before launching it nationwide.What will Coca-Cola most likely use?

Caroline's Crafts 'N Things Sarah works for a retail shop called Caroline's Crafts 'N Things.Sarah was often quite rude to customers when they annoyed her.One morning, her supervisor asked Sarah into her office and informed her that her behavior was unacceptable.To be rude to one customer could cause several customers not to come back.Sarah's supervisor told her that retaining a customer is much cheaper than trying to get a new one.After their constructive discussion, Sarah's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers. Over the next few months, Sarah began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another.In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job.She started to think about the future of the company.She even thought that the company could do very well if it were to sell its products on eBay.When she brought this idea to her boss, her boss thought it was excellent, and asked Sarah to look further into the pros and cons of her idea. After evaluating Sarah's research, her boss decided to move forward with the idea, asking Sarah to head up this new venture for the company.Sarah then realized that retail is not just about making the sale; the customer should be the focus of all operations.Sarah now looks up to her boss, and is very glad that she was there to mentor her. -Refer to Caroline's Crafts 'N Things.When Sarah was brought into her boss's office, what was her manager trying to explain?

What are the major forces in the marketing environment?

The Terminator Home Security Company markets its infrared alarm system to urban residents who are more likely to experience a theft than their rural counterparts.This is an example of ____ segmentation.

Buying behavior may be defined as the decisions and actions of people involved in buying and using products.

Reseller markets consist of intermediaries such as wholesalers that buy finished products and sell them for a profit.

AST Computers purchases most of its parts from several suppliers and then assembles products based on customer specifications.The company's hard drive supplier's contract will expire soon and AST intends to shop around for a new supplier.The purchasing process could involve all except which of the following?

Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as _____.

After reviewing a report showing that one of the company's competitors recently increased its market share by 10 percent, the president called a meeting and asked the marketers, "Is there anything we can do about this?" The marketers responded, "We can modify our marketing mix, but we cannot

Your Best, Inc. Christie worked for a retail company and noticed there were many things which could be done.She shared some of her ideas with upper management, but it did not want to do things differently.When Christie went home to talk to her husband, they both realized that, given her passion, it would be better for Christie to open her own business.After a lot of consideration, she decided to open a sporting goods store called Your Best, Inc.She also knew just where to open the store-right next to her house. To be certain to address all aspects of the business, Christie hired a marketing research firm to determine the best location.Once all the research was compiled and analyzed, she realized that it would actually be better to open the store in a different area.She also realized that deciding where to locate the business was not the only major concern.More specifically, she would have to focus on the four elements of the marketing mix as well, creating a whole marketing plan.Her husband mentioned the possibility of using online information services to help with the business.With her husband's support and a good marketing plan, Christie felt that she would be prepared to make the right decisions. -Refer to Your Best, Inc.When Christie's business gets going, her income less all additional personal taxes would be called her _____.