BUAD 332 EXAM 1 PRACTICE TEST
QUESTIONS WITH ACCURATE
ANSWERS (GRADE A+) –
LATEST VERSION
a market is - ANSWER-a set of actual or potential buyers of a
product or service
value proposition is - ANSWER-the set of benefits or values that aa
company promises to deliver to customer to satisfy their needs
marketing mix (4 p's of marketing) - ANSWER-product, price, promotion,
place
customer value is - ANSWER-the customers perception of what they
want to have happen in a specific use situation, with the help of a
product or service, in order to accomplish a desired purpose or goal.
what perspective are we defining customer value from? - ANSWER-a
customer perspective NOT a product perspective.
,customer value = - ANSWER-importance
customer satisfaction = - ANSWER-performance
five key aspects of customer value - ANSWER-tradeoff, interaction,
relative, goal driven, dynamic
tradeoff - ANSWER-(what I get) - (what I give up)= x. benefits and
sacrifices. customers objective is to maximize x for themselves among
perceived alternatives.
customer learning methods - ANSWER-customer interaction, customer
research, 3rd party customer research, secondary reports, analyzing
market trends, analyzing customer complaints, mining customer
databases to look for buying patterns, market segments, and changes in
buying patterns
customer value strategy process - ANSWER-1. identify the value
2. choose the value
3. provide the value
4. communicate the value
, 5. assess the delivered value
SBU - ANSWER-strategic business unit
Strategic Planning - ANSWER-the process of developing and maintaining a
strategic fit between the organization's goals and capabilities and its
changing marketing opportunities
strengths and weakness are ... - ANSWER-internal
opportunities and threats are... - ANSWER-external
mission statement questions - ANSWER-1. what is our business? 2.
who is our customer? 3. What do our customers value? 4. what should
our business be?
Business Portfolio - ANSWER-the collection of businesses and products that
make up the company
Strategic Business Unit (SBU) - ANSWER-A Unit Of The Company
QUESTIONS WITH ACCURATE
ANSWERS (GRADE A+) –
LATEST VERSION
a market is - ANSWER-a set of actual or potential buyers of a
product or service
value proposition is - ANSWER-the set of benefits or values that aa
company promises to deliver to customer to satisfy their needs
marketing mix (4 p's of marketing) - ANSWER-product, price, promotion,
place
customer value is - ANSWER-the customers perception of what they
want to have happen in a specific use situation, with the help of a
product or service, in order to accomplish a desired purpose or goal.
what perspective are we defining customer value from? - ANSWER-a
customer perspective NOT a product perspective.
,customer value = - ANSWER-importance
customer satisfaction = - ANSWER-performance
five key aspects of customer value - ANSWER-tradeoff, interaction,
relative, goal driven, dynamic
tradeoff - ANSWER-(what I get) - (what I give up)= x. benefits and
sacrifices. customers objective is to maximize x for themselves among
perceived alternatives.
customer learning methods - ANSWER-customer interaction, customer
research, 3rd party customer research, secondary reports, analyzing
market trends, analyzing customer complaints, mining customer
databases to look for buying patterns, market segments, and changes in
buying patterns
customer value strategy process - ANSWER-1. identify the value
2. choose the value
3. provide the value
4. communicate the value
, 5. assess the delivered value
SBU - ANSWER-strategic business unit
Strategic Planning - ANSWER-the process of developing and maintaining a
strategic fit between the organization's goals and capabilities and its
changing marketing opportunities
strengths and weakness are ... - ANSWER-internal
opportunities and threats are... - ANSWER-external
mission statement questions - ANSWER-1. what is our business? 2.
who is our customer? 3. What do our customers value? 4. what should
our business be?
Business Portfolio - ANSWER-the collection of businesses and products that
make up the company
Strategic Business Unit (SBU) - ANSWER-A Unit Of The Company
