Exam 1: Marketing: Creating and Capturing Customer Value

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

Define customer relationship management and explain its associated tools,levels of relationships.

In a short essay,describe and compare the four types of customers classified by their potential profitability to an organization.Explain how an organization should manage each type of customer.

UPS seeks more than just sales and profits.Its three-pronged corporate sustainability mission stresses economic prosperity,social responsibility,and environmental stewardship.UPS applies the ________ philosophy.

The final step in the marketing process is ________.

Market offerings are limited to products and services.Persons,places,organizations,information,and ideas are not included.

You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would it be most profitable for you to develop with these customers?

Marketing is the process by which companies create value for all the shareholders in order to build strong relationships with them in return.

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves both consumers' and society's well-being?

What is the first step of the five-step marketing process?

What should sellers consider if they wish to avoid marketing myopia?

A company needs to construct a marketing program that delivers superior value and then ________ according to the five-step model of the marketing process described in the text.

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.

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

Which of the following defines the total combined customer lifetime values of all of a company's current and potential customers?

Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.Having a customer department rather than a marketing department,as suggested by Kelleher,is an example of a(n)________ perspective.

To create customer value and build strong customer relationships,today's marketers know they cannot go it alone; therefore,they practise ________.

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

Harley-Davidson sponsors the Harley Owners Group (H.O.G.)worldwide clubs,which gives Harley owners "an organized way to share their passion and show their pride." This is an example of which of the following?

The following is an accurate description of modern marketing: