Exam 1: Marketing: Creating and Capturing Customer Value

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?

The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.

Customer satisfaction is said to occur when ________.

Which of the following statements is NOT correct?

You have just taken a new position in an organisation and you're learning about the job functions of your new colleagues.You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships,and frequently speaks about the need to deliver superior customer value and satisfaction.Your manager is concerned with which one of the following?

During the recent economic downturn,marketers have been emphasising the ________ of their products more than ever.

Marketers should look beyond the attributes of the products and services that they sell in order to also create brand experiences for consumers.

________ is the act of obtaining a desired object from someone by offering something in return.

When backed by buying power,needs become wants.

The marketing task known as demarketing involves ________.

The ________ marketing concept questions whether the pure marketing concept is adequate in the age of environmental problems,resource shortages,rapid population growth,worldwide economic problems and neglected social services.

The ________ concept holds that consumers will favour products that offer the most quality,performance and innovative features.

Which of the following is most likely true of a global firm?

Market offerings can include products,services,information or experiences offered to a market to satisfy a need or want.

________ refers to sellers being preoccupied with their own products and losing sight of underlying potential consumer and market needs.

Two important questions underlying marketing strategy are: 'Who is our target market?' and 'What's our value proposition?'

The elements of the extended marketing mix are the 4 Ps plus people,process and physical evidence.

Selecting which segments of a population of customers to serve is called ________.

If a product's performance falls short of the customer's expectations,the buyer will be dissatisfied.

Which customer question is answered by a company's value proposition?