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Finley, Professor
Category: Homework
Satisfied Customers: 409
Experience:  MBA, College Professor, Researcher, Writer
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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_____________.
A. Lower prices
B. Spend more money
C. Lower expectations
D. Manage customer experiences
E. Develop marketing campaigns

2) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A. vertical system
B. marketing information system
C. marketing intelligence system
D. product management system
E. marketing research system

3) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation process.
A. skunk works
B. joint- venture system
C. venture team
D. new product “team”
E. stage-gate system

4) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
A. A marketing database
B. A marketing research system
C. A promotional campaign
D. A marketing intelligence system
E. A marketing information system

5) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.
A. customer feedback systems
B. intermediaries
C. advisory panels
D. external networks
E. sales force surrogates

6) Most established companies focus on ________ when it comes to innovation.
A. competitive innovation
B. continuous innovation
C. demand innovation
D. everyday innovation
E. incremental innovation

7) The value proposition consists of a cluster of benefits the company promises to deliver; it is
A. business processes
B. customer experience with the company
C. customer expectations
D. total customer satisfaction
E. Customer loyalty to the company

8) Particularly when shopping for ego-sensitive products such as perfumes and expensive cars, many consumers use price as an indicator of ________.
A. status
B. size
C. quality
D. ability
E. capability

9) ________ is the result of a concentrated effort by designers, engineers, and purchasing agents to reduce the product's overall costs.
A. Learning curve
B. Experience curve
C. Target costing
D. Least cost producer

10) 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?
A. Determining demand.
B. Selecting a pricing method.
C. Selecting the pricing objective.
D. Researching reference prices in the target market.
E. Selecting the final price.

[Section Description]
11) The first step in the marketing research process is to ________.
A. develop a research plan
B. contact a professional consultant
C. define the problem and research objectives
D. analyze the internal environment
E. read marketing research journals

12) Marketing research is now about a ________ billion industry globally.
A. $50
B. $7.5
C. $21.5
Submitted: 6 years ago.
Category: Homework
Expert:  Finley replied 6 years ago.

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