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Customer value

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Question 1
1.

Customer value is the relationship between company profits and company costs.
Answer

True
False

False

Difference between company profits and company costs is accounting figure
Question 2
Question 2
1.

The most critical element for successful strategic planning is top management's support and participation.
Answer

True
False

True

Question 3
Question 3
1.

The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.
Answer

True
False

True

Question 4
1.

ExxonMobil was fulfilling its philanthropic responsibility when it partnered with the National Fish and Wildlife Foundation to save the world's remaining tigers by donating more than $11 million to establish the Save the Tiger Fund.
Answer

True
False

True

Question 5
Question 5
1.

Flexcar is a car rental agency that will rent cars by the hour. Hertz and Avis are part of Flexcar's competitive environment.
Answer

True
False

True

Question 6
Question 6
1.

Global marketing standardization:
Answer

is becoming less popular with the large multinationals
encourages product, packaging, and advertising variations for each nation or local market
actually raises production costs
presumes markets throughout the world are becoming more alike
is more popular with consumer products than with industrial goods

presumes markets throughout the world are becoming more alike

Question 7
Question 7
1.

Mattel lost millions of dollars on its international marketing campaign for Holiday Barbie dolls and accessories because Barbie prices were expressed in U.S. dollars and were set without regard for how they would translate into foreign currencies. The dolls were too expensive for most international markets. Mattel had a faulty _____ strategy.
Answer

pricing
countertrading
diversification
product penetration
product

pricing ( As its related to the price of Barbie dolls)

Question 8
Question 8

Miller has just purchased a new Allez A1 Specialized bicycle for $1,000. Miller realizes that the Allez A1 costs more than most bikes, and even at that price it doesn't come with a set of pedals. Even though other brands of bicycles cost much less than the Allez A1, Miller tells himself that the Allez A1 is more comfortable and has greater durability than most road bikes. As Miller wonders if he made the right purchase decision, he is experiencing:
Answer

attribute remorse
cognitive dissonance
evaluation distortion
consumer cognition
perceptual disharmony

cognitive dissonance

http://en.wikipedia.org/wiki/Cognitive_dissonance

Question 9
Question 9
1.

The fact that mothers in Japan feed their babies freeze-dried sardines and rice and most mothers in the United States would not eat a freeze-dried sardine, much less feed it to their babies, indicates how _____ influences the consumer decision-making process.
Answer

culture
perception
motivation
family life-cycle stage
reference group membership

Culture ( As both countries have different culture)

Question 10
Question 10

Clayton's purchase behavior is influenced by his love of rodeo, his patriotism, a fascination with agriculture, his love of country music, and his belief that everyone needs to enjoy life. All of these things are part of which personal influence on the consumer decision-making process?
Answer

attitude
personality
beliefs
lifestyle
experiential learning

lifestyle

Question 11
Question 11
1.

If DuPont runs advertisements encouraging people to buy clothing that contains Lycra (a DuPont product), this would be an attempt to influence derived demand.
Answer

True
False

True

Question 12
Question 12
1.

When Procter & Gamble (P&G) introduced Liquid Tide to a new segment, consumers in the traditional powdered detergent segment switched to the liquid product. Rather than real sales growth, P&G simply experienced the shifting of existing customers to a new product. This exemplifies a drawback of multisegment targeting strategy called:
Answer

demarketing
selective perception
undifferentiation
cannibalization
market repositioning

Cannibalization (One brand eating sales of another brand of same company)
Question 13
Question 13
1.

An 18-year-old college freshman might be a "party animal" living in a dorm. Another 18-year old freshman might be a husband with a small child and a full-time job. If you were in charge of a marketing program aimed at these men, what segmentation technique would be the easiest to employ that might help you to distinguish between them?
Answer

age cohort analysis
benefit
product differentiation
concentration
gender

Question 14
Question 14
1.

Better World Travelers Club

For many years, if car owners wanted to make sure they would not be stranded if their car broke down, they became members of the American Automobile Association (AAA). Its members also received discounts at AAA-affiliated motels as well as access to maps and a trip planning service. Recently, a new company offering the same services as AAA has come on the market. Better World Travelers Club (BWTC) is competing against AAA by offering the same roadside assistance as AAA and at the same time pitching a go-green philosophy. The company is diligently courting the environmentally conscious traveler. BWTC has agreed to donate one percent of club revenues to environmental organizations that seek to reduce the use of fossil fuel and fight global warming. In addition, its members receive discounts on travel to remote wilderness retreats, world-class eco-resorts, and "green" hotels (ones that utilize energy-efficient practices).

Refer to Better World Travelers Club. BWTC's design of travel packages that appeal to people who like hiking and camping and packages that appeal to those who like resorts would indicate the company is using a(n) _____ base.
Answer

benefit segmentation
demographic
psychographic
geodemographics
usage-rate segmentation
Psychographic

Question 15
Question 15
1.

According to the text, a true marketing decision support system should be:
Answer

reactive
customer-oriented
interactive
rigorous
descriptive

customer-oriented

Question 16
Question 16
1.

The publisher of a Canadian business magazine wanted to make several major changes in the magazine's content and format. To determine what changes would be supported by its subscribers and what changes would not be welcomed, the publisher should engage in:
Answer

advertising
database marketing
marketing research
a data retrieval system
secondary data

marketing research

Question 17
Question 17
1.

Hardie Siding Products

James Hardie began selling fiber cement siding products in the United States in 1989 to leading builders, lumberyards, and home improvement centers. Even though ads guaranteed the product would not rot or crack for 50 years, many builders hated the product. It was heavy to install, and it showed ...

Solution Summary

Response discusses the Customer value

$2.19