BCOR 350 EXAM 1 QUESTIONS
AND ANSWERS 100% LATEST
UPDATE.
, marketing is a process by which firms create value for customers, and _____ in return -
ANSWERcapture value
the first step in creating value for the customer is ______. - ANSWERunderstanding the
customer's needs
______ are defined as "states of deprivation". - ANSWERneeds
when backed by buying power, needs become ______. - ANSWERdemands
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
all of the following are members of a modern marketplace system EXCEPT _____.
a. suppliers
b. marketing intermediaries
c. the company
d. all of the above - ANSWERd. all of the above
once we divide the market into groups, we select which group(s) to serve. this is called
_____. - ANSWERtarget marketing
this is a set of values a firm promises to deliver and differentiates the firm from
competitors. - ANSWERvalue propisition
this management orientation says that consumers favor products that are affordable
and available. - ANSWERproduction concept
the process of building and maintaining profitable customer relationships by delivering
value is - ANSWERcustomer relationship management
these programs reward customers who buy frequently or in 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
the trend(s) changing the marketing landscape are _____.
AND ANSWERS 100% LATEST
UPDATE.
, marketing is a process by which firms create value for customers, and _____ in return -
ANSWERcapture value
the first step in creating value for the customer is ______. - ANSWERunderstanding the
customer's needs
______ are defined as "states of deprivation". - ANSWERneeds
when backed by buying power, needs become ______. - ANSWERdemands
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
all of the following are members of a modern marketplace system EXCEPT _____.
a. suppliers
b. marketing intermediaries
c. the company
d. all of the above - ANSWERd. all of the above
once we divide the market into groups, we select which group(s) to serve. this is called
_____. - ANSWERtarget marketing
this is a set of values a firm promises to deliver and differentiates the firm from
competitors. - ANSWERvalue propisition
this management orientation says that consumers favor products that are affordable
and available. - ANSWERproduction concept
the process of building and maintaining profitable customer relationships by delivering
value is - ANSWERcustomer relationship management
these programs reward customers who buy frequently or in 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
the trend(s) changing the marketing landscape are _____.
