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University of Oregon MKTG 311 Quiz 1 Q1)All of the following are accurate descriptions of modern marketing EXCEPT which one? Marketing is the creation of value for customers

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University of Oregon

MKTG 311

Quiz 1

Q1)All of the following are accurate descriptions of modern marketing EXCEPT which one?

1. Marketing is the creation of value for customers.
2. Marketing is managing profitable customer relationships.
3. Selling and advertising are synonymous with marketing.
4. Marketing involves satisfying customers' needs.
5. Marketing is used by for-profit and not-for-profit organizations.

 

Q2) Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if she remains in the area. Stew Leonard's concern is an illustration of which of the following?

1. share of customer
2. market share
3. partner relationship management
4. customer lifetime value
5. market share maintenance

 

Q3) Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. This reflects the                                                     concept.

1. product
2. production
3. selling
4. marketing
5. societal marketing

 

Q4) Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other items. Based on previous purchase history, the company recommends related CDs, books, videos, or other products that might interest a customer. This most directly helps Amazon.com capture a greater                                                        _.

1. partner value
2. share of customer
3. profit margin
4. social network
5. customer loyalty

 

Q5) Ben & Jerry's challenges all stakeholders, including employees, top management, and even ice cream scoopers in their stores, to consider individual and community welfare in their day-to-day decisions.

Actions such as this by companies seizing the opportunity to do well by doing good reflects                 .

1. environmentalism
2. social responsibility
3. profit marketing
4. partnership management
5. myopia