MKTG 3310 Exam 1 || A+ Score Secured.
engaging customers and managing profitable customer relationships correct answers marketing
the process by which companies engage customers, build strong customer relationships, and
create customer value in order to capture value from customers in return correct answers
marketing
the *performance of activities* that seek to accomplish an organizations objectives by
anticipating customer or client needs and directing a flow of need-satisfying goods and services
from producer to customer or client correct answers marketing
what is marketing used to identify: correct answers -production demand forecasting
-customer "needs" identification
-determine distribution paths
-estimate customer price
-how do we promote our products?
-marketing model(s) identification
-identifying target markets
-how do we serve our customers?
-identify current and future competition positions
what is the Marketer's goal? correct answers to identify customer needs and meet those needs so
well that the resulting product "sells itself"
5 core customer and marketplace concepts correct answers 1. voice of the customer (needs,
wants, and demands)
2. market offerings (products, services, and experiences)
3. value and satisfaction
,4. exchanges and relationships
5. markets
all actual and potential buyers of a product (buying units) correct answers markets
customer relationship management is a key need in which market? correct answers business
market
state of felt deprivation correct answers needs
what 3 things are involved in the voice of the customer? correct answers needs
wants
demands
what are the 3 different types of needs and what do they involve? correct answers -physical
needs (food, clothing, warmth, and safety)
-social needs (belonging and affection)
-individual needs (knowledge and self-expression)
Form taken by human needs when shaped by culture and individual personality correct answers
wants
*human wants* that are backed by buying power correct answers demands
what are types of market offerings? correct answers products
services
information
experience
, market offerings are offered to satisfy customer _____ or ____ correct answers need or want
Paying more attention to the specific products a company offers than to the benefits and
experiences produced by these products correct answers marketing myopia
customer form expectations about the ___ and ____ of market offerings correct answers value
and satisfaction
Satisfied customers ____ again and dissatisfied customer ____ to _____. correct answers -buy
-switch to competitors
Setting the right level of expectations correct answers -Low expectations may fail to attract
buyers
-High expectations may disappoint buyers
the difference between the benefits a customer sees from a market offering and the costs
obtaining those benefits correct answers customer value
Some "Customer Value" Truths correct answers 1. perception is reality
2. competition is always disrupting
3. relationships can be built on customer value
the extent to which a firm fulfills a customer's *needs, desires, and expectations* (USUALLY
PLACED FIRMLY ON THE SHOULDERS OF THE MARKETING ORGANIZATION) correct
answers customer satisfaction
the act of obtaining a desired object by offering something in return correct answers exchange
engaging customers and managing profitable customer relationships correct answers marketing
the process by which companies engage customers, build strong customer relationships, and
create customer value in order to capture value from customers in return correct answers
marketing
the *performance of activities* that seek to accomplish an organizations objectives by
anticipating customer or client needs and directing a flow of need-satisfying goods and services
from producer to customer or client correct answers marketing
what is marketing used to identify: correct answers -production demand forecasting
-customer "needs" identification
-determine distribution paths
-estimate customer price
-how do we promote our products?
-marketing model(s) identification
-identifying target markets
-how do we serve our customers?
-identify current and future competition positions
what is the Marketer's goal? correct answers to identify customer needs and meet those needs so
well that the resulting product "sells itself"
5 core customer and marketplace concepts correct answers 1. voice of the customer (needs,
wants, and demands)
2. market offerings (products, services, and experiences)
3. value and satisfaction
,4. exchanges and relationships
5. markets
all actual and potential buyers of a product (buying units) correct answers markets
customer relationship management is a key need in which market? correct answers business
market
state of felt deprivation correct answers needs
what 3 things are involved in the voice of the customer? correct answers needs
wants
demands
what are the 3 different types of needs and what do they involve? correct answers -physical
needs (food, clothing, warmth, and safety)
-social needs (belonging and affection)
-individual needs (knowledge and self-expression)
Form taken by human needs when shaped by culture and individual personality correct answers
wants
*human wants* that are backed by buying power correct answers demands
what are types of market offerings? correct answers products
services
information
experience
, market offerings are offered to satisfy customer _____ or ____ correct answers need or want
Paying more attention to the specific products a company offers than to the benefits and
experiences produced by these products correct answers marketing myopia
customer form expectations about the ___ and ____ of market offerings correct answers value
and satisfaction
Satisfied customers ____ again and dissatisfied customer ____ to _____. correct answers -buy
-switch to competitors
Setting the right level of expectations correct answers -Low expectations may fail to attract
buyers
-High expectations may disappoint buyers
the difference between the benefits a customer sees from a market offering and the costs
obtaining those benefits correct answers customer value
Some "Customer Value" Truths correct answers 1. perception is reality
2. competition is always disrupting
3. relationships can be built on customer value
the extent to which a firm fulfills a customer's *needs, desires, and expectations* (USUALLY
PLACED FIRMLY ON THE SHOULDERS OF THE MARKETING ORGANIZATION) correct
answers customer satisfaction
the act of obtaining a desired object by offering something in return correct answers exchange
