Exam 1: Marketing: Creating and Capturing Customer Value

Beyond simply attracting new customers and creating transactions,companies want to ________ and grow their businesses.

Marketing occurs when people decide to satisfy needs and wants through exchange relationships.

Think about suppliers and other marketing partners.A modern marketing system relies on profitable relationships all along the way.How might Walmart rely on its marketing partners in order to offer low prices?

The aggressive selling concept focuses on creating sales transactions rather than on building long-term and profitable customer relationships.

Like Running Room,today's successful companies have one thing in common: they are strongly customer focused and heavily committed to marketing.

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

Human needs are shaped by culture and individual personality.

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

Governmental agencies have also shown an increased interest in marketing.When a local government encourages energy conservation and concern for the environment or discourages smoking,it is involved in ________.

The ________ responsibility and environmental movements will place even stricter demands on companies in the future.

Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?

At which step of the five-step marketing process do we examine five core customer and marketplace concepts,including needs and wants,market offerings,value and satisfaction,exchanges and relationships,and markets?

Customers can be classified into four relationship groups according to their profitability and projected loyalty.Which type of customer has the highest profit potential and strong loyalty?

Explain why the aim of customer relationship management is to create not just customer satisfaction,but also customer delight.

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

When backed by buying power,needs become demands.

The societal marketing concept calls on marketers to balance consumer wants and desires,company profits,and society's interests.

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality,performance,and innovative features.

FedEx offers its customers fast and reliable package delivery.When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service,they are acting upon ________.

Elisandra,a marketing manager at a regional chain restaurant,has decided to sponsor a contest calling for customers to create commercials for the restaurant.Winning entries will be posted on the organization's home page.Elisandra's plan is an example of ________.