MKTG 4500 Exam 3 Questions and
Answers 100% Pass
Personalization - ✔✔Companies are being forced to react to the growing
individualization of demand. At the same time, cost management remains of
paramount importance due to the competitive pressure in global markets. Thus, making
enterprises more customer centric efficiently is a top management priority in most
industries.
__________ is a key strategy to meet this challenge.
Benefits of personalization - ✔✔Product distinction: a standard product becomes a
specialized solution
Low cost access to luxury and status of personalized services
Survival through differentiation
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 1
,Increased customer loyalty
Backlash - ✔✔Personalization efforts can produce _______
-excessive personalization wastes time
-sometimes, standardization is just fine
Personalization approaches - ✔✔1) Mass customization
2) Choice assistance
3) Personalized messaging
Mass customization - ✔✔Blending standard products with individual information
-by offering modular production in the production of goods so as to meet exactly the
needs of each individual customer with regard to certain product characteristics at costs
comparable to standard, mass-produced goods
-the last stage of production is simply delayed until individual choices, tastes, and
behavior can shape the firm's offering
*Personalization approach
Choice assistance - ✔✔Advice giving systems cut clutter of product choice
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 2
, -Use the full multi-media approach of online interactions to better understand user
preferences and provide advice.
2 prominent approaches used online...
1) Intelligent systems that seek out one's interests and recommend products based upon
some underlying characteristics of specific info given (ex. Pandora)
2) Base suggestions on feedback from other users creating an automated WOM system
*Personalization approach
Personalized messaging - ✔✔Consumer needs and choices tracked across repeated
interaction
-The end goal is a successful and LT relationship where the customer and the firm have
an ongoing, interactive connection
-The firm seeks to satisfy the customers' needs and wants over repeated use
*Personalization approach
Mass customization - ✔✔Customization of....
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 3
Answers 100% Pass
Personalization - ✔✔Companies are being forced to react to the growing
individualization of demand. At the same time, cost management remains of
paramount importance due to the competitive pressure in global markets. Thus, making
enterprises more customer centric efficiently is a top management priority in most
industries.
__________ is a key strategy to meet this challenge.
Benefits of personalization - ✔✔Product distinction: a standard product becomes a
specialized solution
Low cost access to luxury and status of personalized services
Survival through differentiation
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 1
,Increased customer loyalty
Backlash - ✔✔Personalization efforts can produce _______
-excessive personalization wastes time
-sometimes, standardization is just fine
Personalization approaches - ✔✔1) Mass customization
2) Choice assistance
3) Personalized messaging
Mass customization - ✔✔Blending standard products with individual information
-by offering modular production in the production of goods so as to meet exactly the
needs of each individual customer with regard to certain product characteristics at costs
comparable to standard, mass-produced goods
-the last stage of production is simply delayed until individual choices, tastes, and
behavior can shape the firm's offering
*Personalization approach
Choice assistance - ✔✔Advice giving systems cut clutter of product choice
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 2
, -Use the full multi-media approach of online interactions to better understand user
preferences and provide advice.
2 prominent approaches used online...
1) Intelligent systems that seek out one's interests and recommend products based upon
some underlying characteristics of specific info given (ex. Pandora)
2) Base suggestions on feedback from other users creating an automated WOM system
*Personalization approach
Personalized messaging - ✔✔Consumer needs and choices tracked across repeated
interaction
-The end goal is a successful and LT relationship where the customer and the firm have
an ongoing, interactive connection
-The firm seeks to satisfy the customers' needs and wants over repeated use
*Personalization approach
Mass customization - ✔✔Customization of....
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 3
