Exam Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) What is the customer lifetime value of a person who buys $1,235 in product every year and is expected to be a loyal customer for at least 20 years? A) $112,000 B) $24,700 C) $5,500 D) $101,340 E) $33,400
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2) ________ is the act of obtaining a desired object from someone by offering something in return. A) Targeting B) Segmentation C) Positioning D) Differentiation E) Exchange
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3) For marketing to be effective, it must ________. A) help people connect with the people in their lives B) develop a culture of warmth and belonging C) create a buying experience D) create customer value E) deliver high quality products
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4) The ultimate aim of customer relationship management is to ________. A) turn "strangers" into "butterflies" B) evaluate customer lifetime value C) evaluate current sales share D) produce high customer equity E) divide markets into distinct segments
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5) To market the cause of suicide prevention, rapper Logic worked with the National Suicide Prevent Lifeline (NSPL) to create a video embedded with his song "1-800-273-8255," the NSPL phone number. This is an example of a marketing offering for a(n) ________. A) idea B) person C) exchange D) product E) place
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6) Which of these questions must be answered to develop a winning marketing strategy? A) What is our value proposition? B) How many marketing representatives will we need to hire? C) What products should we focus on selling? D) How do we deliver products to customers? E) Which online platform should we use to market our products?
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7) Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________. A) desire B) need C) value D) demand E) market offering
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