C1 14thE_Creating Customer Value and Engagement

_____ is when one pays more attention to developing the product than to the benefits/experiences produced

T/F The aim of marketing is to create value for customers and to capture value in return

Shaped by culture and individual personality, _____ are formed by human needs.

Which of the following are actions that a company must take to identify it's customers?

_____ is the act of obtaining a desired object by offering something in return. ( *** key marketing concept)

States of felt deprivation: physical, social or individual = ________

Revenue - expense = ?

F1.2 Marketing involves serving a market of final consumers in the face of competitors.

Satisfying customer needs, reaching customers directly, use of web sites, blogs, apps, social media = ____

Obtaining a desired object by offering something in return is ___________?

F1.2 Which of the following are major environmental forces impacting an organization?

Which of the following are considered core customer and marketplace concepts?

_____ are all actual and potential buyers of a product

Which of the following are the rewards a company might reap if the marketing process is followed?

T/F Once a company understands its customers/marketplace, it must decide the customers to serve & the value to provide

Deciding upon the smaller piece, group or segment to pursue as customers = _______

Designing a customer value driven strategy means a company must choose which customers to serve.

Figure 1:1 5 steps Marketing Process shows how companies capture value FROM customers by creating value FOR customers.

The goals of Marketing include:

Human wants backed by buying power = __________

Which question(s) must one answer to provide a winning marketing strategy?

Making sales, maintaining lots of products in shopping centers, and/or TV-magazine-direct mail ads are examples of ____

________ is managing profitable customer relationships.

Dividing the markets into smaller areas, pieces, units or groups = _______

Products, services or experiences that satisfy a need or a want are __________