Exam 1: Marketing: Creating Customer Value and Engagement

________ refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Customer-perceived value is defined as the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

An experience such as a vacation can be defined as a market offering.

Following the change in consumer values and consumption patterns after the Great Recession, marketers have changed their marketing strategies to emphasize the ________ of their products.

Dividing the market into various groups of customers that a company may serve is called ________.

When backed by buying power, needs become wants.

Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?

How are local retailers affected by global competition?

Social media sites with small audiences, such as Birdpost.com, can be as effective in creating customer engagement as sites with large audiences, such as Pinterest.

The selling concept is typically practiced ________.

Greater consumer control means that companies can no longer rely on ________.

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ________ campaign.

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

Human needs are shaped by culture and individual personality.

In consumer-generated marketing, marketers play a bigger role in shaping consumers' brand experiences and those of others.

A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario?

A seller pursues a full partnership with what kind of customers?

Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?