Exam 1: Marketing: Creating and Capturing Customer Value

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

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

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

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

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

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

Cylog,a leading provider of personal computer systems,began manufacturing tablet devices after predicting a future consumer need for portability.Which of the following was most likely implemented by Cylog?

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

________ are defined as states of felt deprivation.

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

The process of dividing the market into segments of customers is known as market penetration.

Compare the selling and marketing concepts,and list the key components of each concept.

In which of the following customer relationship groups do organizations generally avoid investing?

Through consumer-generated marketing,consumers themselves are playing a bigger role in shaping their own brand experiences and those of others.

Customer equity is a measure of the past value of a company's customer base.

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 ________.

The product concept holds that consumers will favor products that offer the most in quality,performance,and innovative features.

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

GT Grand,a manufacturer of ultra-luxury cars,supplies customized vehicles based on the specific demands of customers in affluent market segments.The company's approach is most likely referred to as ________.

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.