Exam 1: Marketing: Creating Customer Value and Engagement 

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

Amazon Prime 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 .

Marketing, more than any other business function, deals with _.

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

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

Compare and contrast the product and production concepts.

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 _ .

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.

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

marketing is perhaps the fastest-growing marketing platform.

Describe and compare the four types of customers classified by their potential profitability to an organization. Identify how an organization should manage each type of customer.

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

The selling concept holds that .

L.L. Bean, the outdoor apparel retailer was founded on the principle of .

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

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

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.

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

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