Exam 2: Creating Marketing Strategies for Customer-Centric Organizations

The emotional elements of a brand includes:

Which is not one of the seven R's of the marketing mix?

One disadvantage of market segmentation is that it always increases marketing expenses.

Marketing strategy is a process that involves which of the following areas of strategy formulation and implementation?

The primary challenge for international marketing programs is to build the core of the marketing strategy on the differences between countries.

In the 4 P's that comprise the marketing mix, promotion refers to:

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Cultural empathy refers to the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems.

The ultimate goal of market segmentation is increased customer satisfaction and profitability.

A thorough market analysis includes an examination of current and potential competitors.

Consumer insight refers to the consumer's understanding of how companies market their products.

The term "CLV"stands for Company Lifetime Valuation.

For a new product to avoid failure in today's market and be successful it must:

In the 4 P's that comprise the marketing mix, ____ is when the firm decides on the most effective outlets through which to sell their products and how best to get them there.

Product is the total bundle of utilities or benefits attained by consumers in the exchange process.

Thinking globally requires the ability to understand markets beyond one's own country of origin with respect to:

The opposite of market aggregation is mass marketing.

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Value is:

Today's consumers have less power than those of the last decade.