Exam 1: Marketing: Creating Customer Value and Engagement

Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?

In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.

Which of the following statements is true of the production concept?

The art and science of choosing target markets and building profitable relationships with them is called ________.

A seller pursues a basic relationship with what kind of customers?

Which of the following is NOT an accurate description of modern marketing?

Needs include all of the following EXCEPT ________.

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

Which of the following is the aim of the product concept?

Through ________, companies today are strengthening their connections with all partners, from providers of raw materials and components to those involved in the delivery of final goods and services.

The Internet of Things is a new product created by multiple companies working together.

Company X, a manufacturer of office supplies, follows the selling concept. Explain how the firm may lose sight of customer relationships with this marketing orientation.

At a local farmers' market, Molly Malone sells mussels while shouting to passersby, "Fresh seafood, get your fresh seafood here!" What kind of perspective is Molly taking?

Which of the following refers to the total combined customer lifetime value of all of the company's current and potential customers?

Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.

Discuss the challenges and advantages of new communication technologies for marketers as they work to build relationships with their customers.

Explain what marketers can expect from individuals in the customer relationship group classified as "butterflies."

Selecting which segments of a population to serve is called ________.

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

The production concept and the product concept are marketing management orientations that are more likely to lead to marketing myopia.