MKTG 6822 FINAL exam questions with |\ |\ |\ |\ |\ |\
answers
Two unique approaches to marketing strategy - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔outside in and inside out |\ |\ |\ |\ |\
Inside out approach - CORRECT ANSWERS ✔✔look inside
|\ |\ |\ |\ |\ |\ |\ |\
company at issues that are important to the company.
|\ |\ |\ |\ |\ |\ |\ |\ |\
Sells solutions of products and services
|\ |\ |\ |\ |\
Outside In Approach - CORRECT ANSWERS ✔✔Brands
|\ |\ |\ |\ |\ |\ |\
should be the result of the needs of the target market, not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the result of what the company decides it wants to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
market
Why is outside in important - CORRECT ANSWERS ✔✔Puts
|\ |\ |\ |\ |\ |\ |\ |\
customers first and relentless delivery of value to
|\ |\ |\ |\ |\ |\ |\ |\ |\
customers
Four Customer Value Imperatives - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
✔✔Be a customer value leader.
|\ |\ |\ |\
Innovate new value for customers.
|\ |\ |\ |\
Capitalize on the customer as an asset. |\ |\ |\ |\ |\ |\
Capitalize on the brand as an asset. |\ |\ |\ |\ |\ |\
, 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.
Value Positioning - CORRECT ANSWERS ✔✔the unique
|\ |\ |\ |\ |\ |\ |\
value that a product or service provides to its customers
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and how it is better than and different from those of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
competitors
Price Value - CORRECT ANSWERS ✔✔What the consumer
|\ |\ |\ |\ |\ |\ |\ |\
receives for the money (not always lowest price)
|\ |\ |\ |\ |\ |\ |\
Performance Value - CORRECT ANSWERS ✔✔Customers |\ |\ |\ |\ |\ |\
look for the latest features, functionality and quality
|\ |\ |\ |\ |\ |\ |\
Relational value - CORRECT ANSWERS ✔✔Premium on
|\ |\ |\ |\ |\ |\ |\
total solutions that meet needs
|\ |\ |\ |\
beyond product attributes, including service,
|\ |\ |\ |\
financing, technical assistance, etc.|\ |\ |\
answers
Two unique approaches to marketing strategy - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔outside in and inside out |\ |\ |\ |\ |\
Inside out approach - CORRECT ANSWERS ✔✔look inside
|\ |\ |\ |\ |\ |\ |\ |\
company at issues that are important to the company.
|\ |\ |\ |\ |\ |\ |\ |\ |\
Sells solutions of products and services
|\ |\ |\ |\ |\
Outside In Approach - CORRECT ANSWERS ✔✔Brands
|\ |\ |\ |\ |\ |\ |\
should be the result of the needs of the target market, not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the result of what the company decides it wants to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
market
Why is outside in important - CORRECT ANSWERS ✔✔Puts
|\ |\ |\ |\ |\ |\ |\ |\
customers first and relentless delivery of value to
|\ |\ |\ |\ |\ |\ |\ |\ |\
customers
Four Customer Value Imperatives - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
✔✔Be a customer value leader.
|\ |\ |\ |\
Innovate new value for customers.
|\ |\ |\ |\
Capitalize on the customer as an asset. |\ |\ |\ |\ |\ |\
Capitalize on the brand as an asset. |\ |\ |\ |\ |\ |\
, 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.
Value Positioning - CORRECT ANSWERS ✔✔the unique
|\ |\ |\ |\ |\ |\ |\
value that a product or service provides to its customers
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and how it is better than and different from those of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
competitors
Price Value - CORRECT ANSWERS ✔✔What the consumer
|\ |\ |\ |\ |\ |\ |\ |\
receives for the money (not always lowest price)
|\ |\ |\ |\ |\ |\ |\
Performance Value - CORRECT ANSWERS ✔✔Customers |\ |\ |\ |\ |\ |\
look for the latest features, functionality and quality
|\ |\ |\ |\ |\ |\ |\
Relational value - CORRECT ANSWERS ✔✔Premium on
|\ |\ |\ |\ |\ |\ |\
total solutions that meet needs
|\ |\ |\ |\
beyond product attributes, including service,
|\ |\ |\ |\
financing, technical assistance, etc.|\ |\ |\
