Chapter 1 Creating Customer Relationships and Value through Marketing
customer value proposition
"Help people around the world save money and live better - anytime and anywhere" is a statement of Walmart's _____.
translate information about consumer needs into product concepts
After discovering consumers' needs, marketing's next task is to _____.
market orientation
An organization that has a _____ focuses its efforts on (1) continuously collecting information about customers' needs, (2) sharing this information across departments, and (3) using it to create customer value.
promotion
Chobani can be found on Facebook, Instagram, Pinterest, and other social media networks. Marketers use social media to communicate with the Chobani consumers, making social media a part of Chobani's _____ strategy.
individuals or organizations making purchases either for themselves or others, regardless of whether it is for personal use or for resale
From a marketing perspective, prospective customers include _____.
Place
If Mom places the highest value on convenience when looking for a cup of coffee, which of the marketing mix components is she most concerned with?
a need
If you feel hungry, marketers would say you have developed _____ to eat something.
uncontrollable forces
In a marketing decision, the environmental forces such as social, economic, technological, competitive, and regulatory are known as _____.
small businesses are the source of the majority of new U.S. jobs
In terms of marketing, which of the following statements about small business is most accurate?
customer value proposition
Joe to Go offers donuts with its simple cup of black coffee that customers serve themselves. In doing so, the company has determined its _____ which satisfies the needs that Dad has as a customer.
deliver genuine value in the offerings of goods, services, and ideas marketed to customers
The American Marketing Association definition shows that marketing is far more than simply advertising or personal selling. It stresses the need to _____.
market segment
The Coffee collective is seeking to identify customers who want a unique coffee drinking experience and are open to a loyalty rewards program. In doing so, the Coffee Collective is determining its _____.
a physical object; intangible
The primary difference between a good and a service, both of which are products to the marketer, is that a good is _ and a service is _____.
make Chobani stand out on the shelf
Unlike most yogurts, which are packaged in cone-shaped cups, Chobani yogurt is packaged in a shorter, wider circular European style cup. Ulukaya chose this style of packaging to _____.
product
When Hamdi Ulukaya and his employees worked for 18 months to create the purest Greek yogurt possible, his team was creating a new _____.
competition grew and the production of goods increased
Which of the following statements is the primary reason that U.S. businesses moved from the production era to the sales era?
packaging
a component of the product element of the marketing mix, can perform many functions. In the case of Chobani yogurt, _____ was used to make the product stand out on the grocer's shelves because the cup was shaped differently
product
a good, service, or idea created to satisfy the consumer's needs
promotion
a means of communication between the seller and buyer
market segments
are composed of those prospective buyers that have both a common need and those who will respond similarly to a marketing action
relationship marketing
involves a personal, ongoing relationship between the organization and its individual customers that begins before and continues after the sale
target markets
specific groups of consumers toward which an organization directs its marketing program
societal marketing concept
suggests that firms can satisfy the needs of consumers in a way that also provides for society's well-being
customer value proposition
the cluster or group of benefits that an organization provides to meet and satisfy the needs of its customers
