Exam 1: Marketing: Creating Customer Value and Engagement

Carla, a team leader in charge of customer relationship management, is planning strategies to improve the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

Ritz-Carlton is fervently dedicated to anticipating customers' slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel or the blinds open upon arrival. An amazing 95 percent of departing guests report that their stay has been a truly memorable experience. This is an example of ________.

________ are the form human needs take as they are shaped by culture and individual personality.

Define customer equity, and explain why it is important to a company.

Which of the following concepts calls for sustainable marketing?

Success at delivering customer value rests on how well a company's entire supply chain performs against competitors' supply chains.

For the past nine years, PepsiCo's Doritos brand has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of ________.

Efforts to convert ________ into loyal customers are rarely successful.

According to the five-step model of the marketing process, the first step in marketing is ________.

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

A market is a segment of potential consumers who share a common need or want.

Which of the following concepts is based on a customer-centered philosophy?

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

Market offerings include entities such as people, places, information, and ideas.

Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.

Various government agencies have launched campaigns to encourage energy conservation and concern for the environment as well as discourage smoking, illegal drug use, and obesity. This illustrates ________ marketing.

Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers.

Which of the following is an example of consumer-generated marketing?

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets.

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________.