Exam 1: Marketing: Creating Customer Value and Engagement

For most marketers, customer relationship management is exclusively a matter of customer data management.

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

Customer equity refers to ________.

How do suppliers help companies like Walmart maintain consistently low prices?

Compare the selling and marketing concepts, listing the key components of each philosophy.

Which of the following statements reflects the marketing concept?

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

When backed by buying power, wants become ________.

A(n) ________ is the set of actual and potential buyers of a product or service.

When demand for athletic shoes produced by Nike and endorsed by Michael Jordan is high, Nike limits how many pairs of shoes are manufactured. This action maintains strong demand by limiting supply. This decision contradicts the philosophy of which marketing concept?

Which of the following marketing management concepts is most likely to lead to marketing myopia?

Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

Healthy Veggies, LLC, believes that marketing is a tool to use in finding customers and keeping them by providing vegetables that are grown using chemical-free farming techniques and selling through small family-owned stores. Healthy Veggies, LLC, practices societal marketing.

Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use.

A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?

Which of the following terms refers to customers who make repeat purchases and tell others about their positive experiences with a product or service?

When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia.

Organizations choose to use only a few of the available online and social media. Using multiple social media results in confused fans.