Buad 3010 Text Bank Chp 1

Marketing: An Introduction, 11e (Armstrong) Chapter 1 Marketing: Creating and Capturing Customer Appreciate 1) ________ is limitd as a political and overseerial regularity by which men-folks and constitutes conquer what they scarcity and absence through creating and exchanging appreciate succeeding a termliness others. A) Appreciate reengineering B) Rational emanations skill C) Financing D) Marketing E) Root suit dissection Answer: D Page Ref: 5 Difficulty: Easy Chapter LO: 1 Course LO: Discuss the dignified concepts of negotiateing 2) The coerceing tread in the negotiateing regularity is ________. A) capturing appreciate from customers to imagine totality and customer equity B) constructing an integrated negotiateing program that transmits loftier appreciate C) fabric laboroperative intercommunitys and creating customer enjoyment D) discernment the negotiatelocate and customer scarcitys and absences E) maneuvering a customer-driven negotiateing temporization Answer: D Page Ref: 6 Difficulty: Moderate Chapter LO: 1 Course LO: Discuss the dignified concepts of negotiateing 3) ________ are states of felt nonpayment. A) Needs B) Desires C) Demands D) Values E) Exchanges Answer: A Page Ref: 6 Difficulty: Easy Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 4) ________ are rational scarcitys as shaped by peculiar unity and rationalization. A) Offerings B) Wants C) Demands D) Values E) Exchanges Answer: B Page Ref: 6 Difficulty: Easy Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 5) When tailed by buying government, absences beseem ________. A) political scarcitys B) requires C) tangible scarcitys D) self-esteem scarcitys E) exchanges Answer: B Page Ref: 6 Difficulty: Easy Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 6) Abel now has the buying government to alienation the computer that he absenceed for the delayedst six months. Abel's absence has now beseem a(n) ________. A) scarcity B) fate C) require D) emergency E) crave-for Answer: C Page Ref: 6 Difficulty: Challenging Chapter LO: 2 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 7) ________ refers to the chance of paying delayed heed to the topical emanations a concourse bestows than to the utilitys and experiences done by these emanations. A) Buyer's compunction B) Out-of-residence advertising C) Caveat emptor D) Marketing myopia E) Winner's execrate Answer: D Page Ref: 7 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 8) The art and endueigation of choosing target negotiates and fabric laboroperative intercommunitys succeeding a termliness them is denominated ________. A) negotiateing skill B) negotiate capitalization C) negotiateing liquidity D) negotiate buzz E) negotiateing liberalization Answer: A Page Ref: 9 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing ) Selecting point segments of a population of customers to tend is denominated ________. A) appreciate reengineering B) disgrace synchronizing C) lump customizing D) target negotiateing E) exceptive administering Answer: D Page Ref: 9 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 10) The BakeWay Bite is a exhibit cookie sandwich negotiateed by the Posco Division of Residence Foods. It is illustrious for its colorshort cream-filled nucleus. Residence Foods imagined a irnot-absolute declaration of these biscuits for consumers in Germany. To resort to German consumers, Residence Succor imagined black chocodelayed filling for the congruous cookie sandwiches. This is an model of ________. A) body nonobservance B) require coerceership C) mutforce D) target negotiateing E) perpendicular integration Answer: D Page Ref: 9 Difficulty: Challenging Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 11) A disgrace's ________ is the set of utilitys or appreciates it promises to transmit to consumers to gratified their scarcitys. A) dominant pretend B) fringe utility C) cardinality D) appreciate sentence E) dignified utility Answer: D Page Ref: 9 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 12) Which of the subjoined negotiateing skill concepts is most mitigated to coerce to negotiateing myopia? A) the customer-driven negotiateing concept B) the customer-driving negotiateing concept C) the societal negotiateing concept D) the retailing concept E) the emanation concept Answer: E Page Ref: 10 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 13) The emanation concept holds that ________. A) consumers conquer not buy abundance of the determined's emanations original the determined undertakes a big-scale retailing and elevation endeavor B) a concourse's negotiateing decisions should deduce consumers' absences, the concourse's requirements, consumers' crave-run interests, and collectiveity's crave-run interests C) consumers conquer assistance emanations that are advantageous and exceedingly bestowoperative D) achieving constituteal intents depends on discerning the scarcitys and absences of target negotiates and transmiting the crave-ford gratifiedments meliorate than competitors do E) consumers conquer assistance emanations that bestow the most in sort, act, and innovative features Answer: C Page Ref: 10 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 14) Henry Ford's philosophy was to consummate the Model-T so that its require could be sunk exalt for increased consumer bestowability. This reflects the ________. A) customer-driving negotiateing concept B) negotiateing concept C) societal negotiateing concept D) emanation concept E) retailing concept Answer: D Page Ref: 10 Difficulty: Challenging Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 5) According to the emanation concept, a concourse should ________. A) meliorate negotiateing of its best emanations simply B) negotiate simply those emanations that feel lofty customer resort C) nucleus on the target negotiate and converge emanations that converge those customers' requires D) exercise its apparition to making normal emanation melioratements E) converge promoting emanations the concourse's top initiative Answer: D Page Ref: 10 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 16) The retailing concept holds that ________. A) consumers conquer not buy abundance of the determined's emanations original the determined undertakes a big-scale retailing and elevation endeavor B) a concourse's negotiateing decisions should deduce consumers' absences, the concourse's requirements, consumers' crave-run interests, and collectiveity's crave-run interests C) consumers conquer assistance emanations that are advantageous and exceedingly bestowoperative D) achieving constituteal intents depends on discerning the scarcitys and absences of target negotiates and transmiting the crave-ford gratifiedments meliorate than competitors do E) consumers conquer assistance emanations that bestow the most in sort, act, and innovative features Answer: A Page Ref: 10 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 17) Which of the subjoined reflects the negotiateing concept philosophy? A) We don't feel a negotiateing division, we feel a customer division. B) We're in the trade of making and retailing loftier emanations. C) We contrivancet them so you can buy them. D) When it's totality versus customers' scarcitys, totality conquer constantly win out. E) You won't converge a meliorate trade anywshort else. Answer: A Page Ref: 10-11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 18) The ________ concept holds that achieving constituteal intents depends on discerning the scarcitys and absences of target negotiates and transmiting the crave-ford gratifiedments meliorate than competitors do. A) negotiateing B) emanation C) emanation D) retailing E) societal negotiateing Answer: A Page Ref: 10 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 19) Customer-driven negotiateing is most mitigated to effect polite when ________ and when customers ________. A) a plain scarcity holds; are hard to identify B) customers do not apprehend what they absence; feel scant budgets C) tshort are few competitors; are careful environing their crave-run success D) a plain scarcity holds; apprehend what they absence E) a absence holds; cannot bestow it Answer: D Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 20) When customers don't apprehend what they absence or don't courteous-behaved-balanced apprehend what's likely, the most benefitoperative temporization is ________ negotiateing. A) customer-driven B) customer-driving C) societal D) emanation E) emanation Answer: B Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 21) Josie enjoys her effect at Futuristic Designs Inc. Her constitute apprehends and anticipates customer scarcitys courteous-behaved-balanced meliorate than customers themselves do and imagines emanations and benefits to converge corpoexistent and unpatent clear scarcitys, now and in the forthcoming. Josie's determined exercitations ________ negotiateing. A) emanation concept B) customer-driving C) societal D) donor E) emanation concept Answer: B Page Ref: 11 Difficulty: Challenging Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 22) The societal negotiateing concept holds that ________. A) consumers conquer not buy abundance of the determined's emanations original the determined undertakes a big-scale retailing and elevation endeavor B) a concourse's negotiateing decisions should deduce consumers' absences, the concourse's requirements, consumers' crave-run interests, and collectiveity's crave-run interests C) the collectiveity conquer assistance emanations that are advantageous and exceedingly bestowoperative D) achieving constituteal intents depends on discerning the scarcitys and absences of target negotiates and transmiting the crave-ford gratifiedments meliorate than competitors do E) consumers conquer assistance emanations that bestow the most in sort, act, and innovative features Answer: B Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 23) The societal negotiateing concept traces to found a poise betwixt consumer short-run absences and consumer ________. A) short-run requires B) short-run utilitys C) crave-run success D) crave-run requires E) crave-run tone Answer: C Page Ref: 11 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 24) Some fast-succor restaurants bestow interesting and suitoperative succor at bestowoperative worths, but in doing so they tend to the national embonpoint transmitted and environmental quantitys. These fast-succor restaurants review the ________ concept. A) negotiateing B) emanation C) emanation D) societal negotiateing E) retailing Answer: D Page Ref: 11 Difficulty: Moderate Chapter LO: 3 AACSB: Ethical discernment and rationalistic abilities Course LO: Discuss the dignified concepts of negotiateing 25) ________ negotiateing is politically and environmentally imperative negotiateing that converges the bestow scarcitys of consumers and tradees termliness besides conserving or enhancing the force of forthcoming generations to converge their scarcitys. A) Customer-driven B) Lump C) Sustainable D) Customer-driving E) Differential Answer: C Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 26) The overall regularity of fabric and maintaining laboroperative customer intercommunitys by transmiting loftier customer appreciate and gratifiedment is denominated ________. A) customer epoch skill B) societal negotiateing C) customer interassociation skill D) axiomsinfamous negotiateing E) sustainoperative customer skill Answer: C Page Ref: 13 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 7) Which of the subjoined conditions refers to a customer's evaluation of the estrangement betwixt all the utilitys and all the requires of a negotiateing bestow not-absolute to those of competing bestows? A) customer-perceived appreciate B) customer-oriented disgrace equity C) customer-perceived act D) customer-oriented elevational mix E) customer-oriented worth mix Answer: A Page Ref: 13 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 28) Nickson released a new file of notees that were titled succeeding the illustrious mountaineer Adam Wills. These new notees were advanced through clboon that the project is a assistanceite of Adam Wills who used a congruous note incomplete by Nickson for its lofty durforce and sort on his prepared. Such a gauge to allure customers to buy one's emanations boon at creating ________. A) customer equity B) interassociation negotiateing antagonism C) customer-perceived appreciate D) proportionate interassociation E) societal negotiateing antagonism Answer: C Page Ref: 13 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 29) Sally alienationd the newly inaugurated "Jolie" lotion. By undertakeing to converge out if the lotion's perceived act tallyes her expectations, Sally was measuring her smooth of customer ________. A) perceived appreciate B) gratifiedment C) equity D) agreement E) epoch appreciate Answer: B Page Ref: 14 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 30) Ryan undertakes to transmit customer gratifiedment whole day in his installation trade, Audio Expressions. The key to achieving this intent is to tally the customer-perceived act of his emanation succeeding a termliness ________. A) concourse projections B) customer appreciates C) customer expectations D) customer interassociation smooths E) concourse expectations Answer: C Page Ref: 14 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 31) Bill recently bought a BMW M3. Bill had separate preconceived notions on the taste and reliforce of the car. Succeeding the alienation, he discovered that the car had a lot delayed attributes than he initially perceived. Hence, it imagined an moving interassociation succeeding a termliness the car terminationing in ________. A) customer enjoyment B) customer satiety C) customer equity D) customer appreciate E) customer agreement Answer: A Page Ref: 14 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 32) Which of the subjoined conditions refers to the customers who converge quote alienations and count others environing their actual experiences succeeding a termliness a emanation or benefit? A) hyper-acquiescent customers B) customer evangelists C) viral negotiateing D) interassociation confederates E) political customers Answer: B Page Ref: 14 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 3) Companies can contrivancet customer intercommunitys at luteous smooths, depending on the sort of the target negotiate. Hence, a concourse succeeding a termliness few customers and lofty margins is most mitigated to trace to clear ________ succeeding a termliness key customers. A) ample confederateships B) basic intercommunitys C) exceptive intercommunitys D) distinct confederateships E) association intercommunitys Answer: A Page Ref: 16 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 34) You are an contributor negotiateing master for a determined in a negotiate succeeding a termliness luteous low-margin customers. Which of the subjoined emblems of intercommunitys would be most laboroperative for you to clear succeeding a termliness these customers? A) ample confederateships B) basic intercommunitys C) distinct confederateships D) exceptive intercommunitys E) association intercommunitys Answer: B Page Ref: 16 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 35) The Niketown exoteric club that organizes twice weekly courteous-behaved-balanceding runs for Nike customers is an model of a ________. A) abundance negotiateing program B) customer-driven negotiateing courteous-behaved-balancedt C) club negotiateing program D) consumer-generated negotiateing program E) sustainoperative negotiateing courteous-behaved-balancedt Answer: C Page Ref: 16 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 36) Elder consumer coerce instrument that companies must trust delayed on negotiateing by ________ rather than negotiateing by ________. A) discontinueion; envelopment B) allureion; intervenience C) politicalization; notification D) producing; retailing E) inspiration; two-of-a-trade Answer: B Page Ref: 18 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 7) Which of the subjoined is an model of consumer-generated negotiateing? A) Toyota's page on Facebook which provides notification environing its upcoming cars to its customers B) Nike's Nike Plus Web office which succors its customers to customize their shoes C) BMW's use of disgrace-connected videos posted on video-sharing Web offices by its customers D) Neiman Marcus's InCircle Rewards program for its best customers E) the Lexus Covenant aimed at creating customer enjoyment Answer: C Page Ref: 19 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills; Use of notification technology Course LO: Discuss the dignified concepts of negotiateing 8) Ellis, a negotiateing overseer at a regional fetter restaurant, has resolute to imagine a question possession for customers to imagine commercials for the restaurant. Winning entries conquer be posted on the constitute's residence page. Ellis' contrivance is an model of ________ negotiateing. A) consumer-generated B) sustainoperative C) customer club D) irrelativeial E) lump Answer: A Page Ref: 19 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 39) ________ recounts a craveer utensil, stretching from raw materials to components to terminal emanations that are carried to terminal buyers. A) The provide fetter B) Frequented negotiateing C) Partnership interassociation negotiateing D) DSS E) CRM Answer: A Page Ref: 20 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 40) The terminal tread in the negotiateing regularity is ________. A) capturing appreciate from customers B) constructing an integrated negotiateing program C) fabric laboroperative intercommunitys succeeding a termliness the customers D) discernment the negotiatelocate E) maneuvering a customer-driven negotiateing temporization Answer: A Page Ref: 20 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 1) At Ken's boutique, the superintendence declaration posted in the admission states that "Without our customers, we don't hold. " Ken and his staff aim to enjoyment each customer and they are sprightly to bestow discounts or extra benefits whenconstantly a customer is anything short than acquiescent. Instead of nucleusing on each peculiar action, Ken and his staff are putting a initiative on ________. A) maintaining customer-perceived appreciate B) managing confederate intercommunitys C) summoning "butterflies" D) converting "strangers" into "butterflies" E) capturing customer epoch appreciate Answer: E Page Ref: 21 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 42) ________ refers to the lot of the customer's alienation that a concourse gets in its emanation categories. A) Appreciate sentence B) Portion-out of customer C) Disgrace equity D) Customer holding E) Customer equity Answer: B Page Ref: 21 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 43) ________ is the completion wholly customer epoch appreciates of all the concourse's exhibit and germinative customers. A) Portion-out of customer B) Customer payoff C) Customer equity D) Customer cardinality E) Customer perceived appreciate Answer: C Page Ref: 22 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 44) The farthest aim of customer interassociation skill is to totality ________. A) lofty customer equity B) lofty exhibit negotiate portion-out C) uniconstitute sales magnitude D) lofty customer payoff E) advantage maximization Answer: A Page Ref: 22 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 45) Customers can be classified into filthy interassociation clumps, according to their advantageforce and incomplete faithfulness. Fixed on this category, you should eschew ________ and shouldn't endue anything in them. A) barnacles B) foreigners C) butterflies D) gentleman devotees E) gentleman confidants Answer: B Page Ref: 22-23 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 46) Customers can be classified into filthy interassociation clumps, according to their advantageforce and incomplete faithfulness. According to this category, a exceedingly laborable, short-term customer is apprehendn as a ________. A) gentleman confidant B) butterfly C) foreigner D) barnacle E) gentleman devotee Answer: B Page Ref: 23 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 7) Customers can be classified into filthy interassociation clumps, according to their advantageforce and incomplete faithfulness. Succeeding a termliness relation to this category, a determined should spin gentleman confidants into ________, who end tail constantly and count others environing their cheerful-tempered-natured-tempered-tempered experiences succeeding a termliness the concourse. A) barnacles B) butterflies C) foreigners D) gentleman devotees E) stars Answer: D Page Ref: 23 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 48) Carla, a team coerceer in accuse of customer interassociation skill, is contrivancening strategies for endly the advantageforce of her determined's smallest rofitoperative but obedient customers. She is besides examining methods for "firing" customers in this clump who cannot be made laborable. To which of the subjoined customer interassociation clumps do these customers appertain? A) butterflies B) gentleman confidants C) foreigners D) barnacles E) short-term customers Answer: D Page Ref: 23 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 49) Which of the subjoined has been the most spiritcimperil consumer confutation to the economic downspin that began in 2008? A) spending delayed on selfindulgence items B) discontinuing any spending on selfindulgence items C) spending short and choosing emanations delayed carefully D) spending delayed on freedom and peregrination E) saving delayed and spending delayed on grocery items Answer: C Page Ref: 24 Difficulty: Easy Chapter LO: 5 50) Your state's division of soundness has budgeted a momentous totality of currency for a radio, print, television, and online advertising antagonism emphasizing the ill cheerful-tempered-natureds of smoking. This is an model of a(n) ________ antagonism. A) ethical B) political negotiateing C) for-advantage D) consumer-generated E) irrelativeiated Answer: B Page Ref: 28 Difficulty: Challenging Chapter LO: 5 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 51) Succeeding a termliness its negotiateing temporization chosen, the concourse constructs an integrated negotiateing program consisting of a merge of negotiateing mix elements denominated the ________, that transforms the negotiateing temporization into existent appreciate for customers. A) three stars B) customer appreciates C) filthy Ps D) perceived attributes E) five domains Answer: C Page Ref: 29 Difficulty: Moderate Chapter LO: 5 Course LO: Discuss the dignified concepts of negotiateing 52) Marketing is managing laboroperative customer intercommunitys. Answer: TRUE Page Ref: 5 Difficulty: Moderate Chapter LO: 1 Course LO: Discuss the dignified concepts of negotiateing 53) The twofold intent of negotiateing is to allure new customers by calm loftier appreciate and to persuade and amplify exhibit customers by transmiting gratifiedment. Answer: TRUE Page Ref: 5 Difficulty: Moderate Chapter LO: 1 Course LO: Discuss the dignified concepts of negotiateing 54) Wants are the constitute rational scarcitys engage as they are shaped by rationalization and peculiar unity. Answer: TRUE Page Ref: 6 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 55) The estrangement betwixt rational scarcitys and absences is that scarcitys are not influenced by negotiateers. Answer: TRUE Page Ref: 6 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 56) When tailed by buying government, scarcitys beseem absences. Answer: FALSE Page Ref: 6 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 57) Negotiate bestowings are scant to tangible emanations. Answer: FALSE Page Ref: 6 Difficulty: Easy Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 58) Negotiate bestowings can envelop emanations, benefits, notification, or experiences bestowed to a negotiate to gratified a scarcity or absence. Answer: TRUE Page Ref: 6 Difficulty: Easy Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 59) When retailers pay short heed to the topical emanations they bestow and delayed heed to the utilitys and experiences done by these emanations, they allow from negotiateing myopia. Answer: FALSE Page Ref: 7 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 60) If negotiateers set consumer expectations too low, they may gratified those who buy but miscarry to allure abundance buyers. Answer: TRUE Page Ref: 7 Difficulty: Easy Chapter LO: 2 1) The regularity of dividing the negotiate into segments of customers is apprehendn as negotiate sagacity. Answer: FALSE Page Ref: 9 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 62) Marketing overseers are zealous in serving all customers in whole way to halt competitive in today's negotiates. Answer: FALSE Page Ref: 9 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 63) A disgrace's appreciate sentence is the set of utilitys or appreciates it promises to transmit to consumers to gratified their scarcitys. Answer: TRUE Page Ref: 9 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 64) The emanation concept and emanation concept are orientations that can coerce to negotiateing myopia. Answer: TRUE Page Ref: 10 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 65) Nickson Cameras has cleared a new project for cameras that their staff reveres conquer bestow the most in conditions of sort, act, and innovative features. Nickson Cameras is practicing the emanation concept short. Answer: FALSE Page Ref: 10 Difficulty: Moderate Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 66) The retailing concept holds that consumers conquer not buy abundance of the determined's emanations original it undertakes a big-scale retailing and elevation endeavor. Answer: TRUE Page Ref: 10 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 67) The senior estrangement betwixt customer-driving negotiateing and customer-driven negotiateing is that the customer-driving negotiateing deduces simply corpoexistent scarcitys. Answer: FALSE Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 8) The societal negotiateing concept holds that a concourse's negotiateing decisions should deduce consumers' absences, the concourse's requirements, consumers' crave-run interests, and collectiveity's crave-run interests. Answer: TRUE Page Ref: 11 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 69) Product, worth, locate, and elevation converge up the elements of a determined's negotiateing mix. Answer: TRUE Page Ref: 12 Difficulty: Easy Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 70) In its broadest notion, customer interassociation skill (CRM) is a customer axioms skill earnestness. Answer: FALSE Page Ref: 13 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 71) Customer appreciate is limitd as the customer's evaluation of the perceived estrangement betwixt all the utilitys and all the requires of a negotiateing bestow not-absolute to those of competing bestows. Answer: TRUE Page Ref: 13 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 72) To all consumers, appreciate instrument perceptible emanations at bestowoperative worths. Answer: FALSE Page Ref: 13 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 3) Customer-perceived appreciate depends on the emanation's perceived act not-absolute to a buyer's expectations. Answer: FALSE Page Ref: 14 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 74) In negotiates succeeding a termliness few customers and lofty margins, retailers should try to clear basic intercommunitys rather than ample confederateships. Answer: FALSE Page Ref: 16 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 75) Club negotiateing programs decorate customers who buy constantly or in big totalitys. Answer: FALSE Page Ref: 16 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 76) Elder consumer coerce instrument that companies can no craveer trust on negotiateing by allureion. Answer: FALSE Page Ref: 18 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 77) Through consumer-generated negotiateing, consumers themselves are untrammelled a bigger role in shaping their own disgrace experiences and those of others. Answer: TRUE Page Ref: 19 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 8) In abstracted to naturalness cheerful-tempered-natured-tempered-tempered at customer interassociation skill, negotiateers must besides effect air-tight succeeding a termliness others internally and further the concourse to jointly produce delayed appreciate to customers. Answer: TRUE Page Ref: 20 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 79) Success at transmiting customer appreciate rests on how polite their perfect provide fetter performs resisting competitors' provide fetters. Answer: TRUE Page Ref: 20 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 80) Customer equity is a gauge of the delayed appreciate of the concourse's customer infamous. Answer: FALSE Page Ref: 22 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 81) Customers can be classified into filthy interassociation clumps, according to their advantageforce and incomplete faithfulness. Succeeding a termliness relation to this category, "barnacles" are germinatively laboroperative but not obedient. Answer: FALSE Page Ref: 23 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 82) Constantly spent the Great Recession, negotiateers are nucleusing on appreciate-for-the-money, practicality, and durforce in their emanation bestowings and negotiateing pitches. Answer: TRUE Page Ref: 24 Difficulty: Easy Chapter LO: 5 Course LO: Discuss the dignified concepts of negotiateing 83) Most oral brick-and-mortar companies feel now beseem click-and-mortar companies. Answer: TRUE Page Ref: 27 Difficulty: Easy Chapter LO: 5 Course LO: Discuss the dignified concepts of negotiateing 84) In the terminal tread, the concourse derives the decorates of its secure customer intercommunitys by capturing appreciate from customers. Answer: TRUE Page Ref: 30 Difficulty: Moderate Chapter LO: 5 Course LO: Discuss the dignified concepts of negotiateing 5) What is negotiateing? Briefly recount the negotiateing regularity. Answer: We limit negotiateing as the regularity by which companies imagine appreciate for customers and contrivancet secure customer intercommunitys in regudelayed to seize appreciate from customers in retaliate. The negotiateing regularity consists of five treads. In the coerceing filthy treads (Understand the negotiatelocate and customer scarcitys and absences, Project a customer-driven negotiateing temporization, Construct an integrated negotiateing program that transmits loftier appreciate, and Plant laboroperative intercommunitys and imagine customer enjoyment), companies effect to apprehend onsumers, imagine customer appreciate, and contrivancet secure customer intercommunitys. In the terminal tread (Capture appreciate from customers to imagine totality and customer equity), companies derive the decorates of creating loftier customer appreciate. By creating appreciate for consumers, they in spin seize appreciate from consumers in the constitute of sales, totality, and crave-term customer equity. Page Ref: 5-6 Difficulty: Moderate Chapter LO: 1 Course LO: Discuss the dignified concepts of negotiateing 86) Briefly parallel and contrariety the concepts of scarcitys, absences, and requires, giving an model of each. Discuss how these concepts recite to negotiateing exercitations. Answer: Rational scarcitys are states of felt nonpayment. Needs are segregate of the rational converge-up; they are not imagined by outer securitys. Humans feel a basic tangible scarcity for succor, dress, animation, and safety; a basic political scarcity for appertaining and pretendion; and a basic peculiar scarcity for apprehendledge and self-expression. Unlike scarcitys, absences are not innate; instead, absences are scarcitys shaped by rationalization, collectiveity, and peculiar unity. For model, an American scarcitys succor but absences a Big Mac and a flexible swallow. An American scarcitys succor, absences a Big Mac and flexible swallow, and requires lunch at McDonalds. Wants beseem requires when they are tailed by consumers' buying government. Marketers persuade liberal scrutiny to apprehend customers' absences and requires. They then undertake to view customers' absences and requires through their negotiate bestowings. Page Ref: 6 Difficulty: Challenging Chapter LO: 2 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 87) Illustrate negotiate bestowings and negotiateing myopia. Answer: Consumers' scarcitys and absences are viewed through negotiate bestowings—some concert of emanations, benefits, notification, or experiences bestowed to a negotiate to gratified a scarcity or a absence. Market bestowings are not scant to tangible emanations. They besides envelop benefits—activities or utilitys bestowed for sale that are essentially impalpoperative and do not termination in the holding of anything. Examples envelop banking, airline, hotel, retailing, and residence relit benefits. Delayed broadly, negotiate bestowings besides envelop other entities, such as living-souls, locates, constitutes, notification, and ideas. Luteous retailers converge the chance of paying delayed heed to the topical emanations they bestow than to the utilitys and experiences done by these emanations. These retailers allow from negotiateing myopia. They are so engagen succeeding a termliness their emanations that they nucleus simply on corpoexistent absences and imperil perception of underlying customer scarcitys. They pretermit that a emanation is simply a dupe to product-out a consumer quantity. A creator of quarter-inch exercise bits may opine that the customer scarcitys a exercise bit. But what the customer existently scarcitys is a quarter-inch hole. These retailers conquer feel distress if a new emanation ends parallel that tends the customer's scarcity meliorate or short expensively. The customer conquer feel the congruous scarcity but conquer absence the new emanation. Page Ref: 6-7 Difficulty: Moderate Chapter LO: 2 Course LO: Discuss the dignified concepts of negotiateing 8) How does a concourse career whom it conquer tend? Answer: A concourse careers whom it conquer tend by dividing the negotiate into segments of customers (negotiate segmentation) and choiceing which segments it conquer go succeeding (target negotiateing). Some race opine of negotiateing skill as convergeing as luteous customers as likely and increasing require. But negotiateing overseers apprehend that they cannot tend all customers in whole way. By enigmatical to tend all customers, they may not tend any customers polite. Instead, the concourse absences to choice simply customers that it can tend polite and advantageably. Ultimately, negotiateing overseers must career which customers they absence to target and on the smooth, timing, and sort of their require. Page Ref: 9 Difficulty: Moderate Chapter LO: 3 Course LO: Discuss the dignified concepts of negotiateing 89) Parallel and contrariety the emanation and emanation concepts. Answer: The emanation concept holds that consumers conquer assistance emanations that are advantageous and exceedingly bestowable. Therefore, skill should nucleus on endly emanation and division teachableness. This concept is one of the oldest orientations that guides retailers. The emanation concept is calm?} a laboroperative philosophy in some situations. For model, twain singular computer converger Lenovo and residence contrivance converger Haier dominate the exceedingly competitive, worth-sensitive Chinese negotiate through low product requires, lofty emanation teachableness, and lump division. However, although laboroperative in some situations, the emanation concept can coerce to negotiateing myopia. Companies adopting this orientation run a senior induce of nucleusing too regular on their own operations and losing perception of the existent objective-satisfying customer scarcitys and fabric customer intercommunitys. The emanation concept holds that consumers conquer assistance emanations that bestow the most in sort, act, and innovative features. Under this concept, negotiateing temporization nucleuses on making normal emanation melioratements. Emanation sort and melioratement are dignified cleverness of most negotiateing strategies. However, nucleusing simply on the concourse's emanations can besides coerce to negotiateing myopia. For model, some creators revere that if they can "plant a meliorate mousetrap, the globe conquer whack a course to their doors. " But they are constantly rudely shocked. Buyers may be looking for a meliorate disconnection to a mouse quantity but not necessarily for a meliorate mousetrap. The meliorate disconnection energy be a chemical bifurcation, an deadly benefit, a seed cat, or something else that suits their scarcitys courteous-behaved-balanced meliorate than a mousetrap. Furthermore, a meliorate mousetrap conquer not retail original the creator projects, packages, and worths it allureively; locates it in suitoperative division utensils; produces it to the heed of race who scarcity it; and convinces buyers that it is a meliorate emanation. Page Ref: 10 Difficulty: Challenging Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 90) Parallel the retailing and negotiateing concepts, listing the key components of each philosophy. Answer: The retailing concept reflects an internally-out philosophy, termliness the negotiateing concept engages an further-in perspective. The retailing concept is typically familiar when an constitute is negotiateing emanations or benefits that buyers do not normally opine of purchasing, such as prophylactic or dignity remittance. Aggressive retailing nucleuses on creating sales action rather than on fabric crave-term intercommunitys succeeding a termliness customers, succeeding a termliness the aim of retailing what the concourse converges rather than making what the customer absences. The negotiateing concept, on the other artisan, is infamousd upon identifying the scarcitys and absences of target negotiates and then gratifieding those scarcitys and absences meliorate than competitors do. Under the negotiateing concept, customer nucleus and appreciate are the courses to sales and totality. Instead of a emanation-centered converge and retail philosophy, the negotiateing concept is a customer-centered notion and reply philosophy. The job is not to converge the straight customers for your emanation but to converge the straight emanations for your customers. Page Ref: 10-11 Difficulty: Challenging Chapter LO: 3 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 91) Briefly illustrate the societal negotiateing concept. Present an model of an constitute that has benefitablely used the societal negotiateing concept. Answer: The societal negotiateing concept questions whether the unadulterated negotiateing concept reviews likely conflicts betwixt consumer short-run absences and consumer crave-run success. Is a determined that satisfies the contiguous scarcitys and absences of target negotiates constantly doing what's best for its consumers in the crave run? The societal negotiateing concept holds that negotiateing temporization should transmit appreciate to customers in a way that maintains or meliorates twain the consumer's and collectiveity's polite-being. It seduces for sustainoperative negotiateing, politically and environmentally imperative negotiateing that converges the bestow scarcitys of consumers and tradees termliness besides conserving or enhancing the force of forthcoming generations to converge their scarcitys. Johnson & Johnson is an model of a concourse that has successfully implemented the societal negotiateing concept. The constitute stresses parity, parity, and putting race precedently totality, an ethic that succored Johnson & Johnson sprightlyly harangue and recruit from the mephitic tampering of Tylenol capsules in 1982. Page Ref: 11-12 Difficulty: Moderate Chapter LO: 3 AACSB: Ethical discernment and rationalistic abilities Course LO: Discuss the dignified concepts of negotiateing 92) Limit customer perceived appreciate. Answer: Summoning and cherishing customers can be a hard job. Customers constantly countenance a portentous marshal of emanations and benefits from which to prefer. A customer buys from the determined that bestows the loftyest customer-perceived appreciate. It is limitd as the customer's evaluation of the estrangement betwixt all the utilitys and all the requires of a negotiate bestowing not-absolute to those of competing bestows. Importantly, customers constantly do not critic appreciates and requires "accurately" or "objectively. " They act on perceived appreciate. Page Ref: 13 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 3) The aim of customer interassociation skill is to imagine not regular customer gratifiedment, but customer enjoyment. Explain. Answer: Customer gratifiedment cannot be engagen for granted. Besuit disgrace faithfulness is hanging upon secure customer gratifiedment, companies toil to keep, gratified, and courteous-behaved-balanced enjoyment exhibit customers. Firms imagine customer enjoyment by calm simply what they can transmit and then transmiting delayed than what they promised. They besides imagine moving intercommunitys succeeding a termliness key customers. Delighted customers converge quoteed alienations and beseem customers for peculiarity. More dignifiedly, they besides essentially beseem an unpaid sales security for the determined as "customer evangelists' who count other germinative customers environing their actual experiences succeeding a termliness the emanation. Page Ref: 14 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 94) Companies can contrivancet customer intercommunitys at luteous smooths, depending on the sort of the target negotiate. Illustrate the irnot-absolute emblems of intercommunitys succeeding a termliness models. Answer: At one extravagant, a concourse succeeding a termliness luteous low-margin customers may trace to clear basic intercommunitys succeeding a termliness them. For model, Nike does not phone or seduce on all of its consumers to get to apprehend them singularly. Instead, Nike imagines intercommunitys through disgrace-fabric advertising, general relations, and its luteous Web offices ad apps. At the other extravagant, in negotiates succeeding a termliness few customers and lofty margins, retailers absence to imagine ample confederateships succeeding a termliness key customers. For model, Nike sales representatives effect air-tight succeeding a termliness the Sports Authority, Dick's Sporting Goods, Foot Locker, and other big retailers. In betwixt these two extravagants, other smooths of customer intercommunitys are delayhold. Beyond bestowing suitably lofty appreciate and gratifiedment, negotiateers can use topical negotiateing dupes to clear secureer bonds succeeding a termliness customers. For model, luteous companies bestow abundance negotiateing programs that decorate customers who buy constantly or in big totalitys. Airlines bestow repeated-flyer programs, hotels present extent upgrades to their repeated guests, and supermarkets present assistance discounts to "very dignified customers. " Other companies bail club negotiateing programs that bestow limbs peculiar utilitys and imagine limb communities. Page Ref: 16 Difficulty: Moderate Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 95) Discuss the opportunities and advantages that new message technologies feel imagined for negotiateers. Answer: Through the Internet and recited technologies, race can now interact in frequented and surprisingly singular ways succeeding a termliness big clumps of others, from neighbors succeeding a termlinessin a topical association to race abutting the globe. Succeeding a termliness message technologies such as e-mail, blogs, Web offices, online communities, online political networks, and Twitter, today's negotiateers weld intererratic approaches that succor contrivancet targeted, two-way customer intercommunitys. Marketers can imagine deeper consumer envelopment and a notion of association extreme a disgrace, making a disgrace a meaningful segregate of consumers' conversations and lives. However, termliness new message dupes imagine intercommunity-fabric opportunities for negotiateers, they besides imagine challenges. They present consumers a elder opinion, and accordingly elder government and coerce in the negotiateplace. Today's consumers feel delayed notification environing disgraces than constantly precedently, and they feel a mammon of platforms for airing and sharing their disgrace views succeeding a termliness other consumers. This utilitys companies when views of its emanations are actual, but can be wrongful when customers portion-out stories of disclaiming experiences succeeding a termliness a concourse's emanations. Page Ref: 18 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills; Use of notification technology Course LO: Discuss the dignified concepts of negotiateing 96) Parallel and contrariety betwixt customer-managed intercommunitys and consumer-generated negotiateing. Answer: Today's consumers feel delayed notification environing disgraces than constantly precedently, and they feel a mammon of platforms for airing and sharing their disgrace views succeeding a termliness other consumers. Thus, the negotiateing globe is now surrounding not simply customer interassociation skill, but besides customer-managed intercommunitys. Elder consumer coerce instrument that companies can no craveer trust on negotiateing by intervenience. Instead, negotiateers must exercitation negotiateing by allureion—creating negotiate bestowings and messages that envelop consumers rather than discontinue them. Hence, most negotiateers now raise their lump-media negotiateing endeavors succeeding a termliness a affluent mix of frequented negotiateing approaches that advance disgrace-consumer interaction. For model, luteous disgraces are creating discourses succeeding a termliness consumers via their own or corpoexistent online political networks. A amplifying segregate of the new customer discourse is consumer-generated negotiateing, by which consumers themselves are untrammelled a bigger role in shaping their own disgrace experiences and those of others. This energy bechance through uninvited consumer-to-consumer exchanges in blogs, video-sharing offices, and other digital forums. But increasingly, companies are alluring consumers to reproduce-exhibit a delayed erratic role in shaping emanations and disgrace messages. Harnessing consumer-generated gratified can be a term-consuming and requitrust regularity. Page Ref: 18-19 Difficulty: Moderate Chapter LO: 4 AACSB: Message abilities Course LO: Discuss the dignified concepts of negotiateing 97) Limit customer equity and illustrate why it is dignified to a concourse. Answer: Customer equity is the sum of the epoch appreciates of all of the concourse's exhibit and germinative customers. Customer equity is hanging upon customer faithfulness from a determined's laboroperative customers. Besuit customer equity is a meditation of a concourse's forthcoming, companies must mould it carefully, viewing customers as effects that scarcity to be maximized. Page Ref: 22 Difficulty: Easy Chapter LO: 4 Course LO: Discuss the dignified concepts of negotiateing 8) Recount and parallel the filthy emblems of customers classified by their germinative advantageforce to an constitute. Identify how an constitute should mould each emblem of customer. Answer: The filthy emblems of customers are foreigners, butterflies, gentleman confidants, and barnacles. 1. "Strangers" feel low germinative advantageforce and faithfulness. A concourse's bestowings do not fit polite succeeding a termliness a foreigner's absences and requires. Companies should not endue in fabric a interassociation succeeding a termliness this emblem of customer. 2. Another emblem of customer in which a concourse should not endue is the "barnacle. Barnacles are exceedingly obedient but not very laboroperative besuit tshort is a scant fit betwixt their scarcitys and the concourse's bestowings. The concourse energy be operative to meliorate barnacles' advantageforce by retailing them delayed, eminence their fees, or reducing benefit to them. However, if they cannot be made laborable, they should be "fired. " 3. Like foreigners, "butterflies" are not obedient. However, they are germinatively laboroperative besuit tshort is a cheerful-tempered-natured-tempered-tempered fit betwixt the concourse's bestowings and their scarcitys. Like existent butterflies, this emblem of customer conquer end and go succeeding a termlinessout seemly a beaming, obedient consumer of a concourse's emanations. Companies should use elevational blitzes to allure these customers, imagine gratifieding and laboroperative actions succeeding a termliness them, and then stop endueing in them until the contiguous term environing. 4. The terminal emblem of customers is "gentleman confidants;" they are twain laboroperative and obedient. Tshort is a secure fit betwixt their scarcitys and the concourse's bestowings, so the concourse should converge normal interassociation enduements in an endeavor to go further gratifieding and to enjoyment these customers. A concourse should try to enjoyment gentleman confidants so they conquer count others environing their cheerful-tempered-natured-tempered-tempered experiences succeeding a termliness the concourse. Page Ref: 22-23 Difficulty: Challenging Chapter LO: 4 AACSB: Analytic skills Course LO: Discuss the dignified concepts of negotiateing 99) Illustrate how the Internet has transformed the way in which we do trade today. Answer: The Internet links men-folks and tradees of all emblems to each other. The Internet allows determineds arrival to interesting new negotiatespaces. The Internet has spawned an entitrust new construct of "click simply" companies–the "dot-coms. " The post-Internet madness of the delayed 1990s has introduced companies that are twain savvy and countenance calm forthcomings. These companies use a set of new Web technologies to grasp customers, including blogs (web logs), cell phones, video games, and political networking offices. "Brick-and-mortar" companies of the delayed are now "click-and-mortar" companies, succeeding a termliness online influences aimed at summoning new customers and confirmation bonds succeeding a termliness exhibit customers. Delayed than 75% of American Internet users now hoard online, making a Web influence a fate for any constitute. Page Ref: 26-27 Difficulty: Challenging Chapter LO: 5 AACSB: Use of notification technology Course LO: Recount the treads envelopd in clearing an advertising antagonism