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3) The value delivery process can be divided into three phases, out of which "choosing the value"
implies ________, which is the essence of strategic marketing.
A) segmentation, developing, and delivering
B) targeting, positioning, and communicating
C) targeting, positioning, and delivering
D) segmentation, targeting, and positioning
E) researching, developing, and delivering
Answer: D
Diff: 1
LO: 2.1: How does marketing affect customer value?
AACSB: Reflective thinking
1
Copyright © 2016 Pearson Education, Inc.
5) James Frank has been put in charge of gathering marketing intelligence, disseminating it
within his organization, and eventually directing action on the information. Mr. Frank's task is
best described as part of the ________ process.
A) market-sensing
B) new-offering realization
C) customer acquisition
D) customer relationship management
E) fulfillment management
Answer: A
Diff: 3
LO: 2.1: How does marketing affect customer value?
AACSB: Analytical thinking; Application of knowledge
6) When a customer places an order at BookBox.com, the company processes the customer's
payment information, sends the order to the nearest warehouse, and ships the order via FedEx.
This is best described as the ________ process.
A) market-sensing
B) customer acquisition
C) customer relationship management
D) fulfillment management
E) new-offering realization
Answer: D
Diff: 2
LO: 2.1: How does marketing affect customer value?
AACSB: Analytical thinking; Application of knowledge
2
Copyright © 2016 Pearson Education, Inc.
7) Today, the "mass market" is actually splintering into numerous segments, each with its own
wants, perceptions, preferences, and buying criteria. This implies that ________.
A) the traditional marketing approach would be the best approach to follow
B) the producers must consider themselves as a part of the value-chain process
C) the producers should focus on niche markets
D) all market segments are equally profitable
E) target market strategies are no longer effective
Answer: B
Diff: 2
LO: 2.1: How does marketing affect customer value?
AACSB: Analytical thinking
8) The first phase of the value creation and delivery sequence is ________ the value that
represents the "homework" marketing must do before any product exists.
A) choosing
B) providing
C) communicating
D) considering
E) acquiring
Answer: A
Diff: 1
LO: 2.1: How does marketing affect customer value?
AACSB: Reflective thinking
9) What is the second phase of the value creation and delivery sequence?
A) choosing the value
B) providing the value
C) communicating the value
D) calculating the value
E) calibrating the value
Answer: B
Diff: 2
LO: 2.1: How does marketing affect customer value?
AACSB: Reflective thinking
10) The last step in the value creation and delivery sequence is ________ the value where the
sales force, sales promotion, advertising, and other communication tools announce and promote
the product.
A) developing
B) positioning
C) communicating
D) reversing
E) researching
Answer: C
Diff: 1
LO: 2.1: How does marketing affect customer value?
3
Copyright © 2016 Pearson Education, Inc.
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