Exam 1: Marketing: Creating and Capturing Customer Value

Customer-driven marketing usually works well when ________ and when customers ________.

The David Suzuki Foundation powerfully markets the idea that government,business,and individuals can be involved in creating a healthy and sustainable environment.Its marketing offering is not a physical product but an idea.

In what ways might even a local retailer find itself touched by global competition?

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability.This reflects the ________ concept

At TELUS,"The future is friendly" whereas Rogers Wireless promises "Canada's reliable network"; such value propositions differentiate one brand from another.

Nike wants to create ________ through its sales representatives' working closely with Sport Chek,Source For Sports,Foot Locker,and other large retailers

Marketing managers know that they can serve all customers in every way.

Today almost every company,small and large,is affected in some way by which of the following?

Railroads were once operated based on the thinking that users wanted trains rather than transportation,overlooking the challenge of other modes of transportation.This reflects the ________ concept.

Toyota works closely with carefully selected suppliers to improve quality and operations efficiency and with franchise dealers to provide top-grade sales and service support that will bring more customers and keep them coming back.What type of management is Toyota practising?

The key to building lasting customer relationships is to create superior customer value and satisfaction.

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

The total combined customer lifetime values of all of the company's current and potential customers are called customer lifetime values.

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

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

The most dramatic digital technology is the iPad.

It is most accurate to say that customers buy from stores and firms that offer which of the following?

Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50 000 of insulated wire per year.Dekko is using ________.

A marketing relationship in which customers,empowered by today's new digital technologies,interact with companies and with each other to shape their relationships with brands is called ________.

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Your department is practising the selling concept.