MKTG 6822 Midterm – ECU EXAM \| \| \| \| \| \|
QUESTIONS WITH ANSWERS \| \|
Customer value imperatives - CORRECT ANSWERS ✔✔1. Be a
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customer value leader. \| \| \|
2. Innovate new value for customers.
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3. Capitalize on the customer as an asset.
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4. Capitalize on the brand as an asset.
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Inside-out strategy - CORRECT ANSWERS ✔✔develop strategies
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to sell solutions of products and services to customers.
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Market insight - CORRECT ANSWERS ✔✔investment in market
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intelligence from customers. \| \|
Marketing Strategy - CORRECT ANSWERS ✔✔a plan of action to
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effectively plan, allocate and coordinate marketing resources
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and activities to accomplish the firm's objectives within a
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specific market. \|
Outside-In Strategy - CORRECT ANSWERS ✔✔develop strategies
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with a perspective of market through relentless delivery of value
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to customers.
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Customer Asset Manager - CORRECT ANSWERS ✔✔companies
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that consistently turn customer value into valuable customers.
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, Customer Value - CORRECT ANSWERS ✔✔trade-off between the
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benefits that customers perceive they are receiving from a
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product/service and the perceived cost of obtaining these \| \| \| \| \| \| \| \|
benefits.
Customer Value Innovator - CORRECT ANSWERS ✔✔companies
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that drive growth by innovating new value for current customers
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and attracting new customers.
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Performance value buyers - CORRECT ANSWERS ✔✔product that
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meets demanding requirements for quality, fashion and/or
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functionality.
Price value buyers - CORRECT ANSWERS ✔✔best price for
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adequate level of performance or service.
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Relational value buyers - CORRECT ANSWERS ✔✔premium on
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total solutions that meet needs beyond product attributes,
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including service, financing, technical assistance, etc.
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Consideration set - CORRECT ANSWERS ✔✔the subset of brands
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that consumers evaluate when making a purchase decision.
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Customer value - CORRECT ANSWERS ✔✔the perception of what
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a product or service is worth to a customer versus the possible
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alternatives, where the benefits exceed the cost paid.
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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.
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