STR 581 Final Exam 5 / STR581 Final Exam 5: GRADED A | 100% CORRECT
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Course
STR 581 (STR581)
Institution
UNIVERSITY OF PHOENIX
STR 581 Final Exam 5 / STR581 Final Exam 5: GRADED A | 100% CORRECT1) Total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations. To achieve total customer satisfaction, organizations need to_____________.
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1 total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations to achieve total cus
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STR 581 (STR581)
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1) Total customer satisfaction is the general feeling of pleasure or disappointment that results from
comparing perceived performance to expectations. To achieve total customer satisfaction,
organizations need to_____________.
Lower prices
Spend more money
Lower expectations
Develop marketing campaigns
E. Manage customer experiences
2) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and
distribute needed, timely, and accurate information to marketing decision makers.
A marketing database
A marketing research system
A promotional campaign
A marketing information system
E. A marketing intelligence system
3) A company can take several steps to improve the quality of its marketing intelligence. If the company
purchases competitive products for study, ttends open houses and trade shows, and reads competitors’
published reports and stockhoder information, the company is using ________ to improve the quality
of it marketing intelligence.
customer fedback systems
intermediaries
advisory panels
sales forc surrogates
E. externa networks
, customer fedback systems
4) A ________ is a set of procedures and sources managers use to obtain everyday information about
developments in the marketing environment.
vertical system
marketing information system
marketing intelligence system
marketing research system
E. product management system
5) A(n) ________ is any good, service, or idea that is perceived by someone as new.
creative product
product
new idea
innovation
6) Most established companies focus on ________ when it comes to innovation.
competitive innovation
continuous innovation
demand innovation
incremental innovation
E. everyday innovation
, 7) The value proposition consists of a cluster of benefits the company promises to deliver; it is
business processes
customer experience with the company
customer expectations
Customer loyalty to the company
E. total customer satisfaction
8) In ________ marketing, the seller engages in the ass production, mass distribution, and mass
promotion of one produt for all buyers.
differentiated
mass
segmented
group
E. general
9) A firm has to consider many factors in setting its pricing policy. We list these as a six-step process.
Which of the following is NOT one of these steps?
Selecting a pricing metho
Selecting the final price.
Selecting the pricing objective.
Researching reference prices in the target market.
E. Determining deman
10) ________ is the result of a concentrated effort by designers, engineers, and purchasing agents to
reduce the product’s overall costs.
, Experience curve
Least cost producer
Target costing
Learning curve
11) Which of the following types of marketing research firms would best be described as one that
gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?
Non-profit marketing research firms
General-line marketing research firms
Syndicated-service research firms
Specialty-line marketing research firms
E. Custom marketing research firms
12) With respect to the sampling plan, three decisions must be made. The decisions are: the sampling
unit—who is to be surveyed? Sample size—how many people should be surveyed? And ________.
sample supervisor—who will lead the sampling effort?
sampling procedure—how should the respondents be chosen?
surveyor skill—who will do the surveying?
sample security—how to protect the sample data?
E. sample cost—how much does sampling cost?
13) A marketing manager needs to know the cost of the research project before approving it. During
which step in the marketing research process would such a consideration most likely take place?
Step 3—information collection
Step 2—develop the research plan.
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