Exam 1: Marketing: Creating Customer Value and Engagement

Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

Club marketing programs reward customers who buy frequently or in large amounts.

When backed by buying power, wants become needs.

________ refers to working closely with people inside and outside the company to jointly bring more value to customers.

The ultimate aim of customer relationship management is to ________.

Since less than ten percent of smartphone owners use their phones for shopping-related activities, mobile marketing is a slow growing digital marketing platform.

Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get to know them personally. Instead, Tide creates engagement and relationships through brand-building advertising, Web sites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers?

Which of the following transforms marketing strategies into real values for consumers?

Barnacles are customers who are potentially profitable but not loyal.

Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________.

In the final step of a marketing process, a company reaps the rewards of its strong customer relationships by capturing value from customers.

Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept.

A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

The final step in the marketing process is ________.

Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

What is marketing? Briefly describe the marketing process.

The more loyal a firm's profitable customers, the lower its customer equity.

The marketing concept is a customer-centered, sense-and-respond philosophy.

________ are defined as states of felt deprivation.

In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.