The alternative concepts under which organizations conduct their marketing activities are...

Production, product, selling, marketing and societal-marketing

People's willingness to buy goods or services.

Customer perceived value is...

The difference between benefits and cost

Value propositions...

Convince customers that they are getting value for money

What is the marketing concept about?

The idea that you must satisfy a customers needs and wants

Market approach in which a company’s emphasis is on the selling function

The first step of the marketing process involves companies working to ____

Gain a better understanding of their customers

Sustainable marketing calls for _______ actions.

socially and environmentally responsible

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Chapter 1 - Creating and Capturing Customer Value

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Questions 16

Answers

1
The alternative concepts under which organizations conduct their marketing activities are...
Product, place, price, and promotion
Production, place, price, and promotion
Production, product, promotion, marketing and selling
Production, product, selling, marketing and societal-marketing
2
Marketing Myopia
Loses sight of customer preferences as these wants/needs change over time
Both B & C
Doesn’t focus on products they sell
Focuses narrowly on products they sell
3
Customer value and satisfaction are key building blocks for strong customer relationships.
True
False
4
The services marketing mix consists of only 3Ps
False
True
5
Demand is...
Something people buy that you can hold or touch.
A person who makes a good or provides a service.
People's willingness to buy goods or services.
Goods that are used to make other goods/to provide services.
6
Customer satisfaction depends on customer expectations
False
True
7
Customer perceived value is...
The price
The difference between benefits and cost
Few customers and high margins
How the customer sees the product
8
Value propositions...
Convince customers that you offer more than others
Convince customers that you are the cheapest
Convince customers that they are getting value for money
Convince customers that you are the best
9
Customer Delight = Customer Perception ________ Expectations
less than
short of
more than
equals to
10
What is the marketing concept about?
Creating a product for a target market
The idea that you must satisfy a customers needs and wants
Selling products to a target audience
Segmenting the market in order to sell your product
11
Selling concept
Business philosophy in which companies consider not only customers
Market in which supply exceeds demand so buyers are in a stronger position
Market approach in which a company’s emphasis is on the selling function
Developing, pricing, promoting and distributing products
12
The marketing mix elements are interdependent.
False
True
13
The first step of the marketing process involves companies working to ____
Gain a better understanding of their customers
Understand who their competitors are
Build stronger customer relationship
Capture value from customers
14
Production is one of the 4Ps of marketing.
False
True
15
Marketing is about promotion and selling.
False
True
16
Sustainable marketing calls for _______ actions.
more profitable actions
environmental
socially and environmentally responsible
sensible

Chapter 1 - Creating and Capturing Customer Value Flashcards | StudBud