BM0019 Week 4

Marketing concept company knows the needs & wants of customers & deliver desired satisfactions better than competitors.

Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

_____ is the act of obtaining a desired object from someone by offering something in return.

Customer-perceived value = customer's evaluation of all the benefits & the costs of a market offering vs the competitors

Fast-food restaurants offer tasty & convenient food at affordable prices, but contribute to the obesity problem, because

Which of the following describes modern marketing?

The production, product & selling concepts are business philosophies that can lead to marketing myopia.

A florist uses a convenient online order system to build customer relationships as this approach adds ____

The marketing & societal marketing concepts are the most commonly used approach by most consumer-focused companies.

The set of marketing tools a firm uses to implement its marketing strategy is called the _____.

A _____ is some combination of products, services, info, or experiences provided to consumers to satisfy a need or want.

Instagram delivers customer satisfaction by spreading happiness & connecting individuals through shared experiences.

Which of the following statements is true of the production concept?