Exam 1: Marketing: Creating Customer Value and Engagement

When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia.

The aim of customer relationship management is to create not just customer satisfaction, but customer delight as well. Explain.

Which of the following is a difference between the marketing concept and the selling concept?

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

Mattel's American Girl Doll creates special ________ between the dolls and the girls who adore them.

________ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.

Product, price, place, and promotion make up the elements of a firm's marketing mix.

The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________.

A customer who is both loyal and profitable is referred to as a ________.

Customers who are classified as true believers ________.

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

Companies like Coca-Cola and Facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences.

Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers?

PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ________.

Compare and contrast customer-managed relationships and consumer-generated marketing.

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.