Exam 2: Marketing: Delivering and Capturing Value

When customers experience difficulty evaluating products or services prior to making a purchase, such as is the case with professional services, there is evidence that:

Acme company has organised a series of seminars for its employees. These seminars are designed to educate staff about the company's new mission and strategic plan. These seminars are BEST described as:

Return on marketing investment (or marketing ROI) is the net return from a marketing investment divided by the costs of the marketing investment.

If a customer expects a product to be poor but purchases it anyway due to lack of choice, and the product turns out to perform better than expected, the customer will always be highly satisfied or delighted.

A customer's lifetime value can be considered as the sum total of all profits a given customer provides for the company over the entire length of time that the customer buys from the company.

Customers will always select the product that provides the greatest value at the lowest price.

The best tool for a discount store to use to determine how its retail clerks respond to customers in wheelchairs would be to:

The value chain is a tool used to identify ways to create more customer value.

Compare and contrast frequency marketing programmes and club marketing programmes.

Frequency marketing programmes are just one of the techniques used by marketers to strengthen the bond between the company and the customer.

If a customer feels that no product offers real value, one option is that the customer may forgo the purchase altogether.

Define customer value and discuss its relationship to customer satisfaction and company profitability.

Many companies partner with external organisations such as suppliers and distributors in their efforts to deliver their brand offerings to the market. Collectively, these partnerships are known as:

The text discusses trends in strategies used by contemporary relationship marketers and designed to build deeper, more direct and enduring relationships with customers. Which of the following is NOT one of these trends as discussed in the text?

Traditional thinking was that marketing is done only by marketing, sales and customer- support people. However, modern thinking is that every functional area can interact with customers and therefore have some role to play in the company's marketing responsibilities.

The Australian air carrier, QANTAS, offers frequent passengers a programme marketed as QANTAS Club with a range of customer benefits including: express check in, priority baggage, extra baggage allowances, access to QANTAS lounges, opportunities to upgrade flight seats, frequent flyer points that can be exchanged for defined goods and services and discounted rates on supplementary services such as QANTAS meeting rooms. QANTAS Club is BEST described as which of the following?

Partners in the value delivery network comprise the company, its suppliers, its distributors and its customers.

_________involves creating, maintaining and enhancing strong relationships with customers and other stakeholders.

A summary of key marketing performance measures, typically produced in a single display, is known as:

According to Peter Drucker, a marketing organisation's first task is to: