Chapter 8 BUILDING CUSTOMER RELATIONSHIP THROUGH EFFECTIVE MARKETING

What is marketing?

• Engaging customers and managing profitable customer relationship

• Understanding the marketplace and customer needs

• Fulfilling needs, wants and demands of customers

• All of the above

Customer relationship management (CRM) focuses on the system for managing the company's relationships and interactions with customers and potential customers.

• True

• False

A car salesperson sends a “Thank You” card to a customer. In the card the salesperson thanked the customer and encouraged the customer to return to the business next time they needed an automobile. This is an example of:

• Employee marketing

• Community marketing

• Relationship marketing

• Industrial marketing

The FOUR kinds of utility are:

• Form, Place, Time, Possession

• Form, Place, Price, Possession

• Form, Product, Time, Possession

• Form, Demand, Time, Possession

Production orientation is focus on

• Selling product

• Customer needs

• Continuous product improvements

• Increased output and efficiency

If you buy beads to make jewelry to sell to your friends, that purchase is a part of which market?

• Consumer market

• Business Market

Daily household purchases would fall under the category of

• Business Market

• Global Market

• Consumer Market

• Monopolistic Market

Which of the following best describes a target market?

• Close competitors of a business
• The people who buy a business's products
• Groups that do not buy a business's products
• The individuals at whom a business's marketing strategies are aimed

_____________involves using a single marketing strategy to reach all customers.

• Differentiated

• Concentrated

• Undifferentiated

• None of the above

One of the benefits of niche marketing is _______________.

• multiple market segments

• focused on a distinct part of the market

• consumer demand will always remain high

• leads to high levels of output and low production costs