Exam 1: Marketing: Creating and Capturing Customer Value

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

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

Wendy purchased Brand X hand lotion.In comparing her perception of how the lotion performed to her expectations for such a lotion,she was measuring her level of ________.

If exchange is the core concept of marketing,then a(n)________ is marketing's core unit of measurement.

The aim of ________ is not to completely destroy demand,but only to reduce or shift it to another time,or even another product.

Which of the following is most essential to any definition of marketing?

________ is defined as an activity,a set of institutions and processes for creating,communicating,delivering and exchanging offerings that have value for customers,clients,partners and society at large.

Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs.

Which of the following is the most likely result of a marketing strategy that attempts to serve all customers?

A recent graduate of business school has a different philosophical approach than his marketing manager,who believes in keeping customers at arm's length and using mass media advertising.He knows that today few successful firms still practice this type of true ________,and are instead turning to selective relationship management.

Which of the following is NOT a basic core concept of marketing?

Customer satisfaction is said to occur when ________.

In a short essay,discuss the opportunities and advantages that new communication technologies have created for marketers.

International marketing is being greatly impacted by new technologies.

The key to developing a(n)________ system is to identify a group of indicators that aid in managing the business and enable accurate cash flow predictions into the future.

Delighted customers,known as 'customer evangelists',are more likely to ________.

The elements of the extended marketing mix are price,place,promotion and product.

The key to creating excitement in a market offering,such as sport,is ________ and interactivity.

Which of the following is an example of a type of market offering?

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.