Exam 1: Marketing: Creating and Capturing Customer Value

The twofold goal of marketing is to attract new customers by promising reasonable value and to keep current customers by delivering products and services.

A small business operator attempts to deliver customer satisfaction every day in his home entertainment installation business.The key to this goal is to match the customer-perceived performance of his products and their installation with the ________.

Lenovo computers dominate the Chinese market through low labour costs,high production efficiency and mass distribution.This is most indicative of the ________ concept.

Which of the following has helped to move old marketing practices to newer,customer-engagement marketing efforts?

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

Customer-perceived ________ is the difference between A) the values the customer gains from owning and using a product, and B) the costs of obtaining the product.

Customer ________ depends on the product's perceived performance relative to a buyer's expectations.

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

Collectively,global brands account for the overwhelming majority of consumers' purchases.

Although the quest for customer delight may be a worthy marketing goal,in practice it can be difficult to sustain in the long term.Explain.

________ is defined as 'some combination of goods,services and experiences that can be offered to a market to satisfy a need or a want'.

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

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

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

All of the following are accurate descriptions of modern marketing today,EXCEPT which one?

Building and maintaining profitable value-laden relationships with customers of a company is called ________.

In many instances,marketing managers try to ensure that there is a sense of excitement (or enjoyment)associated with a market offering and the marketing communication used.Which of the following factors is a key to creating excitement?

In a short essay,explain how and why marketers go beyond selling a product or service to create brand experiences.

Partner relationship management involves building relationships with employees and customers but not suppliers.

Global companies recruit management from many countries,buy components and supplies where they cost the least,and invest where the expected returns are greatest.