MKTG 6822 Midterm – ECU EXAM QUESTIONS WITH ANSWERS

MKTG 6822 Midterm – ECU EXAM \| \| \| \| \| \|




QUESTIONS WITH ANSWERS \| \|




Customer value imperatives - CORRECT ANSWERS ✔✔1. Be a
\| \| \| \| \| \| \| \| \|


customer value leader. \| \| \|




2. Innovate new value for customers.
\| \| \| \| \| \|




3. Capitalize on the customer as an asset.
\| \| \| \| \| \| \| \|




4. Capitalize on the brand as an asset.
\| \| \| \| \| \| \|




Inside-out strategy - CORRECT ANSWERS ✔✔develop strategies
\| \| \| \| \| \| \|


to sell solutions of products and services to customers.
\| \| \| \| \| \| \| \|




Market insight - CORRECT ANSWERS ✔✔investment in market
\| \| \| \| \| \| \| \|


intelligence from customers. \| \|




Marketing Strategy - CORRECT ANSWERS ✔✔a plan of action to
\| \| \| \| \| \| \| \| \| \|


effectively plan, allocate and coordinate marketing resources
\| \| \| \| \| \| \|


and activities to accomplish the firm's objectives within a
\| \| \| \| \| \| \| \| \|


specific market. \|




Outside-In Strategy - CORRECT ANSWERS ✔✔develop strategies
\| \| \| \| \| \| \|


with a perspective of market through relentless delivery of value
\| \| \| \| \| \| \| \| \| \|


to customers.
\|




Customer Asset Manager - CORRECT ANSWERS ✔✔companies
\| \| \| \| \| \| \|


that consistently turn customer value into valuable customers.
\| \| \| \| \| \| \|

, Customer Value - CORRECT ANSWERS ✔✔trade-off between the
\| \| \| \| \| \| \| \|


benefits that customers perceive they are receiving from a
\| \| \| \| \| \| \| \| \|


product/service and the perceived cost of obtaining these \| \| \| \| \| \| \| \|


benefits.


Customer Value Innovator - CORRECT ANSWERS ✔✔companies
\| \| \| \| \| \| \|


that drive growth by innovating new value for current customers
\| \| \| \| \| \| \| \| \| \|


and attracting new customers.
\| \| \|




Performance value buyers - CORRECT ANSWERS ✔✔product that
\| \| \| \| \| \| \| \|


meets demanding requirements for quality, fashion and/or
\| \| \| \| \| \| \|


functionality.


Price value buyers - CORRECT ANSWERS ✔✔best price for
\| \| \| \| \| \| \| \| \|


adequate level of performance or service.
\| \| \| \| \|




Relational value buyers - CORRECT ANSWERS ✔✔premium on
\| \| \| \| \| \| \| \|


total solutions that meet needs beyond product attributes,
\| \| \| \| \| \| \| \|


including service, financing, technical assistance, etc.
\| \| \| \| \|




Consideration set - CORRECT ANSWERS ✔✔the subset of brands
\| \| \| \| \| \| \| \| \|


that consumers evaluate when making a purchase decision.
\| \| \| \| \| \| \|




Customer value - CORRECT ANSWERS ✔✔the perception of what
\| \| \| \| \| \| \| \| \|


a product or service is worth to a customer versus the possible
\| \| \| \| \| \| \| \| \| \| \| \|


alternatives, where the benefits exceed the cost paid.
\| \| \| \| \| \| \|