Exam 1: Marketing: Creating and Capturing Customer Value

The relationship segment known as 'butterflies' are profitable,but not loyal.Marketers should engage in efforts to convert butterflies into loyal customers.

Marketers should look beyond the attributes of the products and services that they sell in order to also create brand experiences for consumers.

New communication technologies create challenges as well as advantages for marketers.

A church targeting different demographic groups to increase attendance is an example of ________.

Compare the selling and marketing concepts,listing the key components of each philosophy.

________ are human needs as shaped by individual personality and culture.

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

Consumer research,product development,communication,distribution,pricing,and service are all most accurately described as core ________ activities.

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

Organisations such as universities,public museums and symphony orchestras aim to make ________ to continue their operations but do not seek to make profits for shareholders.

When the economy tightens,customer loyalty and customer retention become ________ for marketers.

Income distribution generally remains constant across different types of economies.

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

________ is the act of obtaining a desired object from someone by offering something in return.

A highly profitable,short-term customer is a ________.

Which of the following best explains why consumers have greater power and control in today's marketplace?

Beyond offering consistently high value and satisfaction,marketers can use specific marketing tools to develop stronger bonds with consumers.

According to the simple model of the marketing process,a company needs to ________ before designing a customer-driven marketing strategy.

Customer-perceived value is defined as the customer's evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

The first four steps of the marketing process focus on ________.