MARK 3336 EXAM 1 (CHAPTERS 1 - 8) UPDATED
ACTUAL QUESTIONS AND CORRECT ANSWERS
Question:
Marketing Management
Answer:
The art and science of choosing target markets and building profitable
relationships with them.
Question:
Customer-perceived value
Answer:
The customer's evaluation of the difference between all the benefits and all the
costs of a marketing offer relative to those of competing offers.
Question:
Customer relationship management
Answer:
The overall process of building and maintaining profitable customer relationships
by delivering superior customer value and satisfaction.
Question:
The extent to which a product's perceived performance matches a buyers
expectations.
Answer:
Customer Satisfaction
Question:
Customer- Engagement Marketing
Answer:
-Online
-New Marketing
-Making the brand a meaningful part of consumer's conversations and lives by
fostering direct and continuous customer involvement in shaping brand
conversations, experiences, and community.
Question:
Brand created by consumers themselves- both invited and uninvited by which
consumers are playing an increasing role in shaping their own brand experiences
and those of other consumers.
Answer:
Consumer-generated marketing
Question:
Partner Relationship Management
Answer:
, Working closely with partners in other company departments and outside
company to jointly bring greater value to customers.
Question:
Share of customer
Answer:
The portion of the customer's purchasing, that a company gets in its product
categories.
Question:
Customer lifetime value
Answer:
The value of the entire stream of purchases a customer makes over a lifetime of
patronage.
Question:
Butterflies
Answer:
Profitability: High
Loyalty: Short
Question:
True Friends
Answer:
Profitability: High
Loyalty: Long
Question:
Strangers
Answer:
Profitability: Low
Loyalty: Short
Question:
Barnacles
Answer:
Profitability: Low
Loyalty: Long
Question:
Process by which companies create value for customers and build strong
customer relationships in order to capture value from customers in return.
Answer:
Marketing
Question:
Strategic Planning
Answer:
ACTUAL QUESTIONS AND CORRECT ANSWERS
Question:
Marketing Management
Answer:
The art and science of choosing target markets and building profitable
relationships with them.
Question:
Customer-perceived value
Answer:
The customer's evaluation of the difference between all the benefits and all the
costs of a marketing offer relative to those of competing offers.
Question:
Customer relationship management
Answer:
The overall process of building and maintaining profitable customer relationships
by delivering superior customer value and satisfaction.
Question:
The extent to which a product's perceived performance matches a buyers
expectations.
Answer:
Customer Satisfaction
Question:
Customer- Engagement Marketing
Answer:
-Online
-New Marketing
-Making the brand a meaningful part of consumer's conversations and lives by
fostering direct and continuous customer involvement in shaping brand
conversations, experiences, and community.
Question:
Brand created by consumers themselves- both invited and uninvited by which
consumers are playing an increasing role in shaping their own brand experiences
and those of other consumers.
Answer:
Consumer-generated marketing
Question:
Partner Relationship Management
Answer:
, Working closely with partners in other company departments and outside
company to jointly bring greater value to customers.
Question:
Share of customer
Answer:
The portion of the customer's purchasing, that a company gets in its product
categories.
Question:
Customer lifetime value
Answer:
The value of the entire stream of purchases a customer makes over a lifetime of
patronage.
Question:
Butterflies
Answer:
Profitability: High
Loyalty: Short
Question:
True Friends
Answer:
Profitability: High
Loyalty: Long
Question:
Strangers
Answer:
Profitability: Low
Loyalty: Short
Question:
Barnacles
Answer:
Profitability: Low
Loyalty: Long
Question:
Process by which companies create value for customers and build strong
customer relationships in order to capture value from customers in return.
Answer:
Marketing
Question:
Strategic Planning
Answer:
