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