Coursera | Introduction to Marketing

Quiz #2 >> Introduction to Marketing

Quiz #2 >> Introduction to Marketing


1. Because of technology-enabled product development, product life cycles are much shorter now, and companies are constantly reiterating and thinking of new ideas. Which “crack in product centricity” captures this?

  • Commoditization
  • Saturation
  • Innovation
  • Globalization

2. Which of the following is NOT a crack in the product-centric approach?

  • Customer attrition
  • Globalization
  • Deregulation
  • Smart customers
  • Retail saturation

3. Which of the following is not true about direct marketing?

  • It allows companies to know who their customers are and what they buy
  • It aims to determine marketing communication based on past purchases
  • It determines and leverages combined customer value
  • The individual customer is the unit of analysis

4. Which of these retailers would Professor Fader describe as highly customer centric?

  • All of them
  • Nordstrom
  • None of them
  • Apple
  • Starbucks
  • Walmart

5. What is the correct definition of customer centricity?

  • Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around the future needs of a select set of customers in order to maximize their long-term financial value to the firm.
  • Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around the current and future needs of a select set of customers in order to maximize their long-term financial value to the firm.
  • Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around the current needs of a select set of customers in order to maximize their long-term financial value to the firm.
  • Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around the future needs of a select set of customers in order to maximize their short-term financial value to the firm.

6. Professor Fader discussed “salesperson of the month.” What would he say is the best way to pick a salesperson of the month?

  • The number of repeat purchases made by existing customers.
  • The number of quality referrals they generate.
  • The change in total customer lifetime value for that month.
  • The number of new customers brought in.

7. Is maximizing shareholder value the overarching objective for a customer-centric commercial enterprise or a product-centric commercial enterprise?

  • Both
  • Neither
  • Product-centric
  • Customer-centric

8. According to Professor Fader, success in a customer-centric world arises through enhanced and/or more efficient levels of the following EXCEPT:

  • Customer retention
  • Customer experience
  • Customer development
  • Customer acquisition

9. True or False. Customer centricity suggests that you should “fire” (i.e. get rid of) your least valuable customers.

  • False
  • True

10. In a product-centric company, sales bias is on the side of the ____________ in a transaction.

  • Seller
  • Buyer
  • Broker
  • Market

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *