when companies create value and build strong customer relations

What is customer relationship management

The overall process of building and maintaining profitable relationships

What are marketing offerings?

Combinations of products, services, and more to satisfy needs or wants

What is Consumer Generated Marketing

Brand exchanges created between consumers that shape their experiences

Companies must decided how to....

Differentiate and position itself

Marketing management is...

The art of choosing target markets and building profitable relationships

What is customer equity

Total combined customer lifetime values of all the company's customers

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Ch. 1 - Marketing: Creating and Capturing Customer Value

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Questions 15

Answers

1
Companies thrive on positive customer relationships
True
False
2
What is marketing?
the way companies brand themselves in order to sell products to customers
the process in which companies use social media to sell products
when companies create value and build strong customer relations
3
What is customer relationship management
Managing customers happiness levels through marketing tactics
The overall process of building and maintaining profitable relationships
Attracting and retaining customers through marketing
4
What are marketing offerings?
The form human needs take as they are shaped by culture
States of felt deprivation
Combinations of products, services, and more to satisfy needs or wants
5
What is Consumer Generated Marketing
Customers evaluation of different brands benefits
Brand exchanges created between consumers that shape their experiences
The mistake of paying more attention to specific products
Marketing relationships where consumers interact with companies
6
What is this an example of?
The Marketing Process
Value Process
The Five Step Framework For Markets
Customer Relation Model
7
To understand customers, we must know their needs, wants, and demands
True
False
8
What is this model?
Marketing Intermediary Chain
Modern Marketing System
Supply Chain Model
Customer Relationship Model
9
Companies must decided how to....
Differentiate and position itself
Supply and market itself
Separate and target itself
10
Marketing management is...
The process where companies use social media to manage their sales
The art of choosing target markets and building profitable relationships
The set of all actual potential buyers of a product or service
When companies hire multiple people to manager their work
11
Human wants that are backed by buying power are called?
Wants
Needs
Desires
Demands
12
Rapid Globalization is the idea that companies do not want to expand quickly in an international market
True
False
13
What type of concept is this model?
The marketing concept
The product concept
The production concept
The selling concept
14
What is customer equity
The value of the entire stream of purchases that the customer makes
Total combined customer lifetime values of all the company's customers
All customers are treated equally and respectfull
The portion of customers purchasing that a company gets
15
There are five concepts that organizations carry out for marketing strategies
False
True

Ch. 1 - Marketing: Creating and Capturing Customer Value Flashcards | StudBud