Exam 1: Marketing Creating and Capturing Customer Value

Josie enjoys her work at Futuristic Designs Inc.Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet existing and latent needs,now and in the future.Josie's firm practices ________ marketing.

Free

(Multiple Choice)

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Question 1

Correct Answer:

Verified

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

Free

(Essay)

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Question 2

Correct Answer:

Verified

Customer equity is the sum of the lifetime values of all of the company's current and potential customers.Customer equity is dependent upon customer loyalty from a firm's profitable customers.Because customer equity is a reflection of a company's future,companies must manage it carefully,viewing customers as assets that need to be maximized.

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

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(Multiple Choice)

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Question 3

Correct Answer:

Verified

To all consumers,value means sensible products at affordable prices.

(True/False)

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Question 4

Abel now has the buying power to purchase the computer that he wanted for the last six months.Abel's want has now become a(n)________.

(Multiple Choice)

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Question 5

Ryan attempts to deliver customer satisfaction every day in his installation business,Audio Expressions.The key to achieving this goal is to match the customer-perceived performance of his product with ________.

(Multiple Choice)

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Question 6

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

(Essay)

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Question 7

Briefly compare and contrast the concepts of needs,wants,and demands,giving an example of each.Discuss how these concepts relate to marketing practices.

(Essay)

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Question 8

Some fast-food restaurants offer tasty and convenient food at affordable prices,but in doing so they contribute to the national obesity epidemic and environmental problems.These fast-food restaurants overlook the ________ concept.

(Multiple Choice)

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Question 9

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

(True/False)

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Question 10

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

(True/False)

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Question 11

The selling concept holds that ________.

(Multiple Choice)

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Question 12

________ refers to the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.

(Multiple Choice)

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Question 13

The production concept holds that ________.

(Multiple Choice)

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Question 14

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

(Essay)

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Question 15

________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

(Multiple Choice)

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Question 16

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

(True/False)

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Question 17

Marketing is managing profitable customer relationships.

(True/False)

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Question 18

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

(True/False)

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Question 19

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

(True/False)

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Question 20

Showing 1 - 20 of 99

Josie enjoys her work at Futuristic Designs Inc.Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet existing and latent needs,now and in the future.Josie's firm practices ________ marketing.

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

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

To all consumers,value means sensible products at affordable prices.

Abel now has the buying power to purchase the computer that he wanted for the last six months.Abel's want has now become a(n)________.

Ryan attempts to deliver customer satisfaction every day in his installation business,Audio Expressions.The key to achieving this goal is to match the customer-perceived performance of his product with ________.

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

Briefly compare and contrast the concepts of needs,wants,and demands,giving an example of each.Discuss how these concepts relate to marketing practices.

Some fast-food restaurants offer tasty and convenient food at affordable prices,but in doing so they contribute to the national obesity epidemic and environmental problems.These fast-food restaurants overlook the ________ concept.

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

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

The selling concept holds that ________.

________ refers to the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.

The production concept holds that ________.

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

________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

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

Marketing is managing profitable customer relationships.

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

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

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

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