MKT610 Midterm Quiz 1 MCQs 2025

Q1. __________________ involves offering the customer a related product or service.

1. Customer journey
2. Cross-selling
3. None of the given option
4. Up-selling

Correct answer: Cross-selling

Q2. ______________consists of five primary stages and four supporting conditions leading towards the end goal of enhanced customer profitability.

1. The Gartner competency model
2. The CRM Value Chain
3. The IDIC model
4. Payne and Frow’s 5-process model

Correct answer: The CRM Value Chain

Q3. ____________is composed of a series of interactive episodes between dyadic parties over time.

1. All of the given option
2. A transaction
3. A relationship
4. A interaction

Correct answer: A relationship

Q4. ___________ is when each party comes to the attention of the other as a possible exchange partner.

1. Commitment
2. Expansion
3. Exploration
4. Awareness

Correct answer: Awareness

Q5. ___________ is the assumption that the other person has the essential skill to execute as requested.

1. Benevolence
2. Honesty
3. Competence
4. Commitment

Correct answer: Competence

Q6. _______________ is the creation of a customer-centric corporate culture focused to attracting and retaining consumers by generating and providing value that is superior than that of rivals.

1. Operational CRM
2. Collaborative CRM
3. Analytical CRM
4. Strategic CRM

Correct answer: Strategic CRM

Q7. When social media generate customer-related data that are used by companies to manage customer relationships, social media support, and enhance ___________ CRM.

1. Social CRM
2. Strategic CRM
3. Analytical CRM
4. Operational CRM

Correct answer: Social CRM

Q8. _____________ believes that businesses build connections with a broad variety of stakeholders in addition to consumers.

1. The Anglo-Australian school
2. The Nordic school
3. The North American school
4. The Asian (guanxi) school

Correct answer: The Nordic school

Q9. ____________is a core customer-centric business strategy that aims at winning and keeping profitable customers.

1. Collaborative CRM
2. Analytical CRM
3. Operational CRM
4. Strategic CRM

Correct answer: Strategic CRM

Q10. ________________automates customer-facing business processes.

1. Analytical CRM
2. Collaborative CRM
3. Strategic CRM
4. Operational CRM

Correct answer: Operational CRM

Q1. Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships

1. True
2. False

Correct answer: True

Q2. The simplest definition of modern marketing is managing profitable customer relationships.

1. False
2. True

Correct answer: True

Q3. Selling is managing profitable customer relationships.

1. False
2. True

Correct answer: False

Q4. When backed by buying power, wants become demands.

1. False
2. True

Correct answer: True

Q5. Most firms follow the production concept when they face overcapacity.

1. True
2. False

Correct answer: False

Q6. Needs are not necessary but wants are the basic one.

1. True
2. False

Correct answer: False

Q7. Customer value is defined as the customer’s evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

1. False
2. True

Correct answer: False

Q8. The shelter is among one of the examples of needs.

1. False
2. True

Correct answer: True

Q9. Human needs are shaped by culture and individual personality.

1. False
2. True

Correct answer: True

Q10. There is no difference between consumer and customer.

1. True
2. False

Correct answer: True

Q11. An exchange is the core concept of marketing, whereas a transaction is marketing’s unit of measurement.

1. True
2. False

Correct answer: True