Chapter 5:

Creating Customer Value, Satisfaction, and Loyalty

GENERAL CONCEPT QUESTIONS

Multiple Choice

1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering.

a. Profit-centered companies

b. Customer-centered companies

c. Production-centered companies

d. Sales-centered companies

e. Promotion-centered companies

2. The opening vignette on Ritz-Carlton shows that successful marketers are the ones that fully ________.

a. understand promotional strategy

b. diversify their product line

c. divorce themselves from a production mentality

d. satisfy their customers profitably

e. understand the sales concept

3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid?

1. Sales
2. The president
3. Front-line people
4. Customers
5. Middle management

4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

a. Perceived usefulness

b. Failure avoidance rate

c. Report rating

d. Customer-perceived value

e. Competitors’ market share rate

5. Total customer benefit is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering.

a. psychological

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