3. Firms adopting a relationship marketing strategy by creating a community of buyers view their company's Internet web site as a(n): (Points: 1)

promising technique to reach the mass market.
threat to the effective and efficient implementation of their strategy.
tool with limited value because many people are reluctant to place orders or send information electronically.
opportunity to improve their dialogue with customers and increase customer loyalty.
(A)

4. After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the B2B market. As he considers his new responsibilities, it's likely that he will (Points: 1)
find little difference between buyers in the consumer market and those in the business-to-business market.
discover that decision making in the B2B requires salespeople to be little more than order takers.
learn that industrial buyers generally require more personal service than buyers in the consumer market.
find that B2B buyers tend to purchase more on impulse than consumer buyers.
(A)

5. Comparing the business practices of the 1950s to those of today indicate that today's marketing managers: (Points: 1)
have a more ambitious goal of not just satisfying customers, but of exceeding their expectations.
are much more focused on mass marketing.
put less emphasis on earning a profit, since doing so makes it harder to satisfy the needs of the firm's stakeholders.
operate essentially the same as their predecessors.
(C)

6. Fischer Wholesale is working to improve each area of its business to achieve total customer satisfaction. For example, Fisher compares its accounting function, to a firm known as a world-class leader in accounting. Fischer Wholesale plans to do this comparison for all its activities. Fischer is attempting to improve its processes and procedures through: (Points: 1)
concept testing.
intra-industry analysis.
competitive benchmarking.
cross-functional analysis.
(B)

3. The answer to question 3 is "opportunity to improve their dialogue with customers and increase customer loyalty." This can be determined by understanding the concept of relationship marketing and the purpose of creating a community of buyers. Relationship marketing strategies focus on building long-term relationships with customers, and creating a community of buyers through an Internet web site can enhance this strategy. A company's web site becomes an opportunity to engage with customers, listen to their feedback, and strengthen customer loyalty. Therefore, this answer can be deduced by understanding the concept of relationship marketing and its goals.

4. The answer to question 4 is "learn that industrial buyers generally require more personal service than buyers in the consumer market." This can be determined by understanding the differences between the consumer market and the business-to-business (B2B) market. B2B sales involve selling products or services to other businesses rather than individual consumers. In the B2B market, the decision-making process is often more complex, involving multiple stakeholders, and requiring a more personalized approach. Therefore, it is likely that Dave will discover that B2B buyers require more personal service than buyers in the consumer market. This answer can be deduced by understanding the nature of B2B sales and the differences between consumer and industrial buyers.

5. The answer to question 5 is "have a more ambitious goal of not just satisfying customers, but of exceeding their expectations." This can be determined by comparing the business practices of the 1950s to those of today. In the past, marketing managers focused on satisfying customer needs, but today the goal has expanded to exceeding customer expectations. With increased competition and changing consumer expectations, marketing managers strive to deliver exceptional experiences and exceed customer expectations to ensure customer satisfaction and loyalty. Therefore, the answer can be deduced by understanding the evolution of marketing practices over time.

6. The answer to question 6 is "competitive benchmarking." This can be determined by understanding the concept of benchmarking and its application in improving processes and procedures. Benchmarking involves comparing one's performance against best-in-class competitors to identify areas for improvement. In this scenario, Fischer Wholesale is comparing its accounting function to a world-class leader in accounting, indicating that they are using competitive benchmarking to analyze their own practices and identify opportunities for improvement. Therefore, the answer can be deduced by understanding the purpose and process of benchmarking.