Midterm exam review 1 Flashcards
- Customers make choices based on their perceptions of the ________ and ______ that various
products and services deliver.
a. products and services
b. value and satisfaction
c. advertising and price
d. availability and price
b. value and satisfaction
Which of the following is not central to the modern definition of marketing?
a. Needs, wants and demands
b. Value, satisfaction and quality
c. Production and distribution efficiency
d. Exchange, transactions and relationships
c. Production and distribution efficiency
The overall process of building and maintaining profitable customer relationships by
delivering superior customer value and satisfaction is known as ________.
a. customer relationship management
b. perceived value
c. lifetime value of a customer
d. the value propositions
a. customer relationship management
The marketing management philosophy known as the _______ concept holds that
organizations should focus on “building a better mousetrap.”
a. marketing
b. product
c. production
d. selling
b. product
One goal of marketing is to attract new customers, but another, possibly even more important
goal, is to __________ customers by creating customer ___________.
a. please, satisfaction
b. replace, databases
c. retain, loyalty
d. satisfy, equity
c. retain, loyalty
- The company that really understands how consumers will respond to different product features, prices, and
advertising appeals has a great advantage over its competitors.
a. True
b. False
a. True
- The social class that one belongs to hinges on income.
a. True
b. False
b. False
- Once we establish personal purchase patterns, these patterns change little over the course of our life.
a. True
b. False
b. False
- Lifestyle represents a person’s activities, interests and opinions.
a. True
b. False
a. True
- Two people with the same motivation and in the same situation may act quite differently because they perceive
the situation differently.
a. True
b. False
a. True
- For most people, buying their first computer system would be a complex buying behavior.
a. True
b. False
a. True
- The relationship between a customer’s expectations and the customer’s perception of product performance
determines the customer’s level of satisfaction.
a. True
b. False
a. True
- In the buying decision process, consumers will search for information after they have educated different
brand alternatives before they arrive at their final purchase choice.
a. True
b. False
b. False
- Consumers pass through five stages in the process of adopting a new product. The stages are: awareness,
interest, evaluation, trial and adoption.
a. True
b. False
a. True
- A marketer needs to know which people are involved in the buying decision and what role each person plays.
The ‘Decider’ is the person whose views or advice carry some weight in the final buying decision.
a. True
b. False
b. False
