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Exam 11: Building Customer Relationships Through Effective Marketing

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Question 101

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​In ___, a committee or group of people often make the buying decision and consider the organization's objectives, purchasing policies, resources, and personnel.

A) ​business buying
B) ​consumer buying
C) ​institutional buying
D) ​governmental buying

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Question 102

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A firm's marketing activities are affected by external and generally uncontrollable forces.

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Question 103

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The effects of changes that can cause a product to become obsolete almost overnight would best be called ____ forces.

Why would relationship marketing be valuable to a company? Why would it be valuable to a customer?

Sears buys finished products and sells them for a profit to its customers. Sears is a part of which type of market?

The utility created by converting production inputs into finished products is called ____ utility.

The organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders is

A law requiring nutritional information on the outside packaging of food products is what type of force in the external marketing environment?

Arthur was a salesperson for a manufacturing firm in the late 1920s. Which of the following would his employer most likely have asked him to do?

Marketers are most interested in discretionary income because consumers have the most choice in spending it.

Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as

A marketing plan is a written document that specifies an organization's resources, objectives, and strategy.

Would personal income, disposable income, or discretionary income be of the greatest interest to marketers? Explain your answer.

When Pepsi decides to develop a new product, it creates the product itself, determines the price the new product will sell for, decides how to distribute the product to consumers, and develops a promotion campaign to inform the market of the new product. Pepsi has created a(n)

Which of the following is not a major category of factors that influence the consumer buying process?

Females in a market can be classified as

The income an individual receives from all sources less the Social Security taxes that the individual must pay is known as ____ income.

The only kind of utility created by production is time utility, because the producer makes that product available to the customer at the time it is needed.

Marketing activities amount to about one-half of every dollar that consumers spend.

Explain the difference between marketing research and marketing information systems.