_______________ is the first phase in the process cycle for CRM.
A.Analysis and refinement
B.Supplier interface
C.Customer interaction
D.Knowledge discovery
E.Marketing planning
The CRM process cycle begins with knowledge discovery, where data gathered is
analyzed through various touchpoints. Output of knowledge discovery is used in
marketing planning.
With reference to the VALS¢ framework, _______ are primarily concerned about safety
and security, so they tend to be brand loyal and buy discounted merchandise.
A.Makers
B.Survivors
C.Believers
D.Achievers
E.Thinkers
Survivors lead narrowly focused lives. Because they have the fewest resources, they do
not exhibit a primary motivation and often feel powerless. They are primarily
concerned about safety and security, so they tend to be brand loyal and buy discounted
merchandise.
Warner Bros. created interest in the movie “Batman: The Dark Knight” not by spending
money on traditional advertising tools such as print or television advertising, but by
using a technique called _____ to create a buzz about the movie using word of mouth or
Internet social networks.
A.Banner ads
B.Skimming
C.Viral marketing
D.Spamming
E.Interstitials
The American Marketing Association defines viral marketing as a “marketing
phenomenon that facilitates and encourages people to pass along a marketing message.
Nicknamed viral because the number of people exposed to a message mimics the
process of passing a virus or disease from one person to another.”
With _________________, customers are allowed-even encouraged-to haggle about
prices.
A.Psychological pricing
B.One price strategy
C.Variable pricing
D.Every day low pricing (EDLP)
E.High/low pricing
When customers can negotiate prices, it is called variable pricing.
Vinny, the marketing manager for Bass Line Audio Systems, wants the company to
offer an MP3 player, a product the company doesn’t have. He thinks that the firm has
many brand loyal customers who would buy it. Most likely, this would be classified as
__________ in Ansoff’s Product-Market Matrix.
A.Market diversification
B.Marketing strategy development
C.Market penetration
D.Product development
E.Market development
As per Ansoff’s Product-Market Matrix, product development means introducing new
products to existing market. The manager thinks that the loyal customers of the
company would buy the new product that they are planning to introduce. Thus, it is an
example of product development.
Zang Xie, a marketing research consultant, want to use the Internet to quickly gather
competitor information for a client, but want to target specific types of information. Her
best option would be to use _______.
A.Government Sources
B.Social Networking Sites
C.General Search Engines
D.Competitor Web site
E.Fee-based search engines
Fee-based search engines such as ProQuest and Lexis/Nexis can access more data with
sophisticated filters that will target specific information more easily.
Subway, the world’s largest franchise system, is an example of _______.
A.Diversification
B.Horizontal integration
C.Corporate VMS
D.Contractual VMS
E.Administered VMS
A contractual VMS consists of otherwise independent entities that are bound together
legally through contractual agreement. The most famous example of this arrangement is
a franchise organization. Thus, Subway is an example of contractual VMS.
Michael, the stockbroker, is trying to figure out the response to the customer dinner he
hosted last night. Michael is in the __________ phase of the CRM process.
A.Analysis and refinement
B.Supplier interface
C.Customer interaction
D.Knowledge discovery
E.Marketing planning
In the analysis and refinement phase of the CRM process, organizational learning
occurs based on customer response to the implemented strategies and programs.
_______________ is NOT a step in the personal selling process.
A.Prospecting for customers
B.Handling customer objections
C.Advertising
D.Qualifying the prospect
E.Follow up
The personal selling process involves prospecting for customers, opening the
relationship, qualifying the prospect, sales presentation, handling objections, closing the
sale, and follow-up after the sale.
__________________ require a certain percentage markup be applied to all products.
A.Fair trade laws
B.Minimum markup laws
C.Loss leader products
D.State fair trade laws
E.None of the above
Minimum markup laws require a certain percentage markup be applied to all products.
Minimum markup laws may protect small retailers but it hurts everyday shoppers.
Retailers identify ______________ using a variety of characteristics such as geographic
location, demographics, lifestyle, product benefits, or buying situation.
A.Customer communities
B.Retail target markets
C.Market makers
D.A & C
E.A, B & C
A retail target market is a group of consumers targeted by a retailer. Retailers identify
retail target markets using a variety of characteristics such as geographic location,
demographics, lifestyle, product benefits, or buying situation.
Which of the following observations is true about resellers?
A.Resellers sell products to other businesses or consumers
B.Resellers do not sell products to businesses
C.Resellers serve as an early warning system to OEMs
D.Resellers manufacture products for end users
E.Resellers do not directly sell products to end users
Companies that buy products and then resell them to other businesses or consumers are
called resellers.
Google uses stored browsing histories to trigger ads aimed at selling specific products
for which a Google user has shown potential interest. This shows that Google is using
_________ segmentation.
A.Behavioral
B.Social class
C.Demographic
D.Geodemographic
E.Education
Google uses behavioral targeting that tailors ads to people’s interests and online
behavior. The company uses stored browsing histories to trigger ads aimed at selling
specific products for which a Google user has shown potential interest.