BCOR 350 EXAM 1 QUESTIONS WITH
COMPLETE SOLUTIONS RATED A+
, Marketing is a process by which firm creates value for customers, _______ in return -
ANSWERcapture value
The first step in creating value for the customer is___________ -
ANSWERunderstanding the customers need
_________ are defined as "States of Deprivation" - ANSWERneeds
When backed by buying power, wants become ________. - ANSWERdemands
The process of building and maintaining profitable customer relationships by delivering
value is - ANSWERcustomer relationship management
These programs reward customers who buy frequently or large quantities -
ANSWERfrequency marketing programs
the value of the entire stream of purchases the customer makes over a lifetime of
patronage is - ANSWERcustomer lifetime value
What company example was guilty of "marketing Myopia" as discussed in class -
ANSWERthe railroad
We looked at commercials from ________ to learn how firms manage consumer
expectations - ANSWERAldi
What are the members of a modern marketplace system? - ANSWERsuppliers, market
intermediaries, The company
Once we divide the market into groups, we select each group (s) to serve. This is called
- ANSWERtarget marketing
This is a set of values a firm promises to deliver and differentiate the firms from
competitors - ANSWERvalue proposition
This management orientation says that consumers favor products that are affordable
and available - ANSWERproduction concept
The trend(s) changing the marketing landscape are - ANSWERAdvances in
technologies
Growth in Not-for-Profit firms
Golobalization
COMPLETE SOLUTIONS RATED A+
, Marketing is a process by which firm creates value for customers, _______ in return -
ANSWERcapture value
The first step in creating value for the customer is___________ -
ANSWERunderstanding the customers need
_________ are defined as "States of Deprivation" - ANSWERneeds
When backed by buying power, wants become ________. - ANSWERdemands
The process of building and maintaining profitable customer relationships by delivering
value is - ANSWERcustomer relationship management
These programs reward customers who buy frequently or large quantities -
ANSWERfrequency marketing programs
the value of the entire stream of purchases the customer makes over a lifetime of
patronage is - ANSWERcustomer lifetime value
What company example was guilty of "marketing Myopia" as discussed in class -
ANSWERthe railroad
We looked at commercials from ________ to learn how firms manage consumer
expectations - ANSWERAldi
What are the members of a modern marketplace system? - ANSWERsuppliers, market
intermediaries, The company
Once we divide the market into groups, we select each group (s) to serve. This is called
- ANSWERtarget marketing
This is a set of values a firm promises to deliver and differentiate the firms from
competitors - ANSWERvalue proposition
This management orientation says that consumers favor products that are affordable
and available - ANSWERproduction concept
The trend(s) changing the marketing landscape are - ANSWERAdvances in
technologies
Growth in Not-for-Profit firms
Golobalization
