Professional Documents
Culture Documents
5) The ________ steps of the five-step marketing process are about understanding customers,
creating customer value, and building strong customer relationships.
A) first two
B) first three
C) first four
D) last three
E) last four
Answer: C
Diff: 2 Page Ref: 5
Skill: Concept
AACSB: Communication
Objective: 1-1
6) According to the simple five-step model of the marketing process, a company needs to
________ before designing a customer-driven marketing strategy.
A) determine how to deliver superior value
B) build profitable relationships with customers
C) use customer relationship management to create full partnerships with key customers
D) understand the marketplace and customer needs and wants
E) construct key components of a marketing program
Answer: D
Diff: 1 Page Ref: 5-6
Skill: Concept
AACSB: Communication
Objective: 1-2
2
Copyright © 2011 Pearson Education, Inc.
7) ________ are human needs as shaped by individual personality and culture.
A) Deprivations
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
Diff: 1 Page Ref: 6
Skill: Concept
Objective: 1-2
10) ________ refers to sellers being preoccupied with their own products and losing sight of
underlying consumer needs.
A) Selling myopia
B) Marketing management
C) Value proposition
D) Marketing myopia
E) The product concept
Answer: D
Diff: 1 Page Ref: 7
Skill: Concept
Objective: 1-2
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Copyright © 2011 Pearson Education, Inc.
11) When marketers set low expectations for a market offering, they are most likely to run the
risk of which of the following?
A) disappointing loyal customers
B) decreasing customer satisfaction
C) failing to attract enough customers
D) failing to understand their customers' needs
E) incorrectly identifying a target market
Answer: C
Diff: 2 Page Ref: 7
Skill: Concept
Objective: 1-2
12) ________ is the act of obtaining a desired object from someone by offering something in
return.
A) A value proposition
B) Exchange
C) Bribery
D) Value
E) Donation
Answer: B
Diff: 1 Page Ref: 7
Skill: Concept
Objective: 1-2
13) In addition to attracting new customers and creating transactions, the goal of marketing is to
________ customers and grow the company's business.
A) encourage
B) entertain
C) retain
D) recognize
E) educate
Answer: C
Diff: 2 Page Ref: 8
Skill: Concept
Objective: 1-2
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Copyright © 2011 Pearson Education, Inc.
15) Consumer research, product development, communication, distribution, pricing, and service
are all most accurately described as core ________ activities.
A) exchange
B) marketing
C) management
D) production
E) customer relationship management
Answer: B
Diff: 1 Page Ref: 8
Skill: Concept
AACSB: Communication
Objective: 1-2
16) Which of the following is the most likely result of a marketing strategy that attempts to serve
all customers?
A) All customers will be delighted.
B) Customer-perceived value will be increased.
C) Customer evangelists will become unpaid salespersons for the service or product.
D) Few customers will be satisfied.
E) The company will likely need to follow up with a demarketing campaign.
Answer: D
Diff: 2 Page Ref: 9
Skill: Concept
Objective: 1-3
17) The art and science of choosing target markets and building profitable relationships with
them is called ________.
A) marketing management
B) positioning
C) segmentation
D) selling
E) societal marketing
Answer: A
Diff: 1 Page Ref: 9
Skill: Concept
AACSB: Communication
Objective: 1-3
At the second session of the 42d Congress that body, and the
President as well, were compelled to consider a new question in
connection with politics—an actual conflict of State Governments.
There had always been, in well regulated State governments,
returning boards, but with a view the better to guard the newly
enfranchised citizens of the South from intimidation, the Louisiana
Republicans, under very bold and radical leaders, had greatly
strengthened the powers of her returning boards. It could canvass
the votes, reject the returns in part or as a whole of parishes where
force or fraud had been used, and could declare results after such
revision. The Governor of Louisiana had made several removals and
appointments of State officers for the purpose mainly of making a
friendly majority in the returning board, and this led to the
appointment of two bodies, both claiming to be the legitimate
returning board. There soon followed two State governments and
legislatures, the Democratic headed by Governor John McEnery, the
Republican by Governor Wm. Pitt Kellogg, later in the U. S. Senate.
Kellogg brought suit against the Democratic officers before Judge
Durell, of the Federal District Court, and obtained an order that the
U. S. Marshal (S. B. Packard, afterwards Governor), should seize the
State House and prevent the meetings of the McEnery legislature.
Then both governments were hastily inaugurated, and claimed the
recognition of Congress. The Senate Committee reported that Judge
Durell’s decision was not warranted, but the report refused a decisive
recognition of either government. A bill was introduced declaring the
election of Nov. 4, 1872, on which this condition of affairs was based,
null and void, and providing for a new election, but this bill was
defeated by a close vote. Later on, Louisiana claimed a large share in
National politics. Somewhat similar troubles occurred in Alabama,
Arkansas, and Texas, but they were settled with far greater ease than
those of Louisiana. The correspondence in all of these cases was too
voluminous to reproduce here, and we shall dismiss the subject until
the period of actual hostilities were reached in Louisiana.
The Grangers.
S. M. Cullom,
Speaker House of Representatives.
John Early,
President of the Senate.
John L. Beveridge,
Governor.
The same spirit, if not the same organization, led to many petitions
to Congress for the regulation of inter-state commerce and freight
rates, and to some able reports on the subject. Those which have
commanded most attention were by Senator Windom of Minnesota
and Representative Reagan of Texas, the latter being the author of a
bill which commanded much consideration from Congress in the
sessions of 1878–’80, but which has not yet secured favorable action.
In lieu of such bill Senator Cameron, of Pennsylvania, introduced a
joint resolution for the appointment of a Commission to investigate
and report upon the entire question. Final action has not yet been
taken, and at this writing interest in the subject seems to have
flagged.
The disastrous political action attempted by the Grangers in
Illinois and Wisconsin, led to such general condemnation that
subsequent attempts were abandoned save in isolated cases, and as a
rule the society has passed away. The principle upon which it was
based was wholly unsound, and if strictly carried out, would destroy
all home improvements and enterprise. Parties and societies based
upon a class, and directed or perverted toward political objects, are
very happily short-lived in this Republic of ours. If they could thrive,
the Republic could not long endure.
Supplementary Civil Rights Bill.
“Article —.
SHERIDAN’S REPORT.
New Orleans, January 10, 1875.
P. H. Sheridan,
Lieutenant-General.
JOINT RESOLUTION.
George F. Hoar,
W. A. Wheeler,
W. P. Frye,
Charles Foster,
Clarkson N. Potter,
William Walter Phelps,
Samuel S. Marshall.