MKTG 6822 Midterm EXAM WITH \| \| \| \| \|
CORRECT ANSWERS \|
What we do for the
\| \| \| \|
market?
Perspective of market \| \|
Put customer first
\| \|
Relentless deliver of \| \|
value to customers - CORRECT ANSWERS ✔✔outside in approach
\| \| \| \| \| \| \| \|
What can the market
\| \| \|
do for us?
\| \|
Sell solutions of
\| \|
products and services - CORRECT ANSWERS ✔✔Inside out
\| \| \| \| \| \| \| \|
approach
Outside In - \| \| \|
All decisions start with the market and opportunities for
\| \| \| \| \| \| \| \| \|
advantage.
Profits are gained through a superior value.
\| \| \| \| \| \|
,Customer knowledge is valuable \| \| \|
Know more than competition
\| \| \|
No sacred cows
\| \|
Customers buy the expectation on benefits \| \| \| \| \|
Superior quality is defined by customer
\| \| \| \| \|
Best ideas come from customers
\| \| \| \|
Customer loyalty is key \| \| \|
Inside out- \|
Sell to whoever will buy.
\| \| \| \|
Profits are gained through cost cutting.
\| \| \| \| \|
Customer data are a control mechanism. \| \| \| \| \|
If competitors do it, it must be good.
\| \| \| \| \| \| \|
Protect cash flow stream. \| \| \|
Customers buy performance features. \| \| \|
Quality is conformance to internal standards.
\| \| \| \| \|
Customers dont know what they want. \| \| \| \| \|
Expand customer base no matter what. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔Mental Models and Strategic approaches \| \| \| \|
Invest in market intelligence from customers. Sense and act on
\| \| \| \| \| \| \| \| \| \|
market insight across the organization. Find PATTERNS and
\| \| \| \| \| \| \| \|
identify OPPORTUNITIES. Data is NOT knowledge or insight.
\| \| \| \| \| \| \|
, Inspire organization. Develop or improve strategies. - CORRECT
\| \| \| \| \| \| \| \|
ANSWERS ✔✔Market Insight \| \|
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. - CORRECT ANSWERS
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✔✔Customer Value imperatives \| \|
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 = (1 perceived risk) x
\| \| \| \| \| \|
(perceived benefits perceived life cycle costs) - CORRECT
\| \| \| \| \| \| \| \|
ANSWERS ✔✔Customer Value \| \|
Imperative 1: \|
Be a customer value leader.
\| \| \| \|
Imperative 2: \|
Innovate new value for customers.
\| \| \| \|
Imperative 3: \|
CORRECT ANSWERS \|
What we do for the
\| \| \| \|
market?
Perspective of market \| \|
Put customer first
\| \|
Relentless deliver of \| \|
value to customers - CORRECT ANSWERS ✔✔outside in approach
\| \| \| \| \| \| \| \|
What can the market
\| \| \|
do for us?
\| \|
Sell solutions of
\| \|
products and services - CORRECT ANSWERS ✔✔Inside out
\| \| \| \| \| \| \| \|
approach
Outside In - \| \| \|
All decisions start with the market and opportunities for
\| \| \| \| \| \| \| \| \|
advantage.
Profits are gained through a superior value.
\| \| \| \| \| \|
,Customer knowledge is valuable \| \| \|
Know more than competition
\| \| \|
No sacred cows
\| \|
Customers buy the expectation on benefits \| \| \| \| \|
Superior quality is defined by customer
\| \| \| \| \|
Best ideas come from customers
\| \| \| \|
Customer loyalty is key \| \| \|
Inside out- \|
Sell to whoever will buy.
\| \| \| \|
Profits are gained through cost cutting.
\| \| \| \| \|
Customer data are a control mechanism. \| \| \| \| \|
If competitors do it, it must be good.
\| \| \| \| \| \| \|
Protect cash flow stream. \| \| \|
Customers buy performance features. \| \| \|
Quality is conformance to internal standards.
\| \| \| \| \|
Customers dont know what they want. \| \| \| \| \|
Expand customer base no matter what. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔Mental Models and Strategic approaches \| \| \| \|
Invest in market intelligence from customers. Sense and act on
\| \| \| \| \| \| \| \| \| \|
market insight across the organization. Find PATTERNS and
\| \| \| \| \| \| \| \|
identify OPPORTUNITIES. Data is NOT knowledge or insight.
\| \| \| \| \| \| \|
, Inspire organization. Develop or improve strategies. - CORRECT
\| \| \| \| \| \| \| \|
ANSWERS ✔✔Market Insight \| \|
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. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \| \| \|
✔✔Customer Value imperatives \| \|
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 = (1 perceived risk) x
\| \| \| \| \| \|
(perceived benefits perceived life cycle costs) - CORRECT
\| \| \| \| \| \| \| \|
ANSWERS ✔✔Customer Value \| \|
Imperative 1: \|
Be a customer value leader.
\| \| \| \|
Imperative 2: \|
Innovate new value for customers.
\| \| \| \|
Imperative 3: \|
