MKTG 6822 MIDTERM QUESTIONS AND VERIFIED
ANSWERS
1. Be a customer value leader.
2. Innovate new value for customers.
3. Capitalize on the customer as an asset.
4. Capitalize on the brand as an asset. - Answers - Customer value imperatives
develop strategies to sell solutions of products and services to customers. - Answers -
Inside-out strategy
investment in market intelligence from customers. - Answers - Market insight
a plan of action to effectively plan, allocate and coordinate marketing resources and
activities to accomplish the firm's objectives within a specific market. - Answers -
Marketing Strategy
develop strategies with a perspective of market through relentless delivery of value to
customers. - Answers - Outside-In Strategy
companies that consistently turn customer value into valuable customers. - Answers -
Customer Asset Manager
trade-off between the benefits that customers perceive they are receiving from a
product/service and the perceived cost of obtaining these benefits. - Answers -
Customer Value
companies that drive growth by innovating new value for current customers and
attracting new customers. - Answers - Customer Value Innovator
product that meets demanding requirements for quality, fashion and/or functionality. -
Answers - Performance value buyers
best price for adequate level of performance or service. - Answers - Price value buyers
premium on total solutions that meet needs beyond product attributes, including service,
financing, technical assistance, etc. - Answers - Relational value buyers
the subset of brands that consumers evaluate when making a purchase decision. -
Answers - Consideration set
the perception of what a product or service is worth to a customer versus the possible
alternatives, where the benefits exceed the cost paid. - Answers - Customer value
ANSWERS
1. Be a customer value leader.
2. Innovate new value for customers.
3. Capitalize on the customer as an asset.
4. Capitalize on the brand as an asset. - Answers - Customer value imperatives
develop strategies to sell solutions of products and services to customers. - Answers -
Inside-out strategy
investment in market intelligence from customers. - Answers - Market insight
a plan of action to effectively plan, allocate and coordinate marketing resources and
activities to accomplish the firm's objectives within a specific market. - Answers -
Marketing Strategy
develop strategies with a perspective of market through relentless delivery of value to
customers. - Answers - Outside-In Strategy
companies that consistently turn customer value into valuable customers. - Answers -
Customer Asset Manager
trade-off between the benefits that customers perceive they are receiving from a
product/service and the perceived cost of obtaining these benefits. - Answers -
Customer Value
companies that drive growth by innovating new value for current customers and
attracting new customers. - Answers - Customer Value Innovator
product that meets demanding requirements for quality, fashion and/or functionality. -
Answers - Performance value buyers
best price for adequate level of performance or service. - Answers - Price value buyers
premium on total solutions that meet needs beyond product attributes, including service,
financing, technical assistance, etc. - Answers - Relational value buyers
the subset of brands that consumers evaluate when making a purchase decision. -
Answers - Consideration set
the perception of what a product or service is worth to a customer versus the possible
alternatives, where the benefits exceed the cost paid. - Answers - Customer value
