BUS ch. 11 Marketing
in the context of customer relationship management (CRM) a firm selling a high ticket product to a small customer base is most likely to:
pursue a full partnership with each of its key clients
____is based on customer's perception that a product has a better relationship between the cost and the benefits than its competitors
Value
gathering, interpreting, and applying info
marketing research
what is primary data
new data
which marketing strategy can be best employed for attracting tourists
place marketing
surveys given to customers at a restaurant to evaluate service is an example of what kind of data
primary data
the marketing mix is the blend of marketing strategies for:
product price distribution promotion
T or F businesses use customer relationship management (CRM) techniques to deliver value to their customers while promoting customer loyalty
True
T or F developing specific programs to help customers validate their purchase choices is one way marketers attempt to avoid cognitive dissonance
True
Horizon Inc., an automobile designer & develperconducted a survey and built cars that suit the needs of its customers. What is being illustrated in this scenario?
Mass customization
_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value
Customer relationship management
T or F A major disadvantage of primary date is that it is usually outdated even before a marketer receives it
False
T or F customer marketers direct their efforts to customers who are buying products to use either directly or indirectly to produce other products
False
walt owns a local chain of auto repair shops in Northern Michigan. He goes the extra mile in pleasing his customers by providing comfortable and attractive waiting rooms, friendly service, and an exceptional warranty on all repair work. What philosophy has Walt employed to make all his customers highly satisfied?
IDK MAN
Lawrence recently bought a new '69 Mustang, but he is not completely satisfied with it. He wished he had bought something that made a bigger impression on his colleagues at his work. His friend Howard bought a Porsche 911 and is extremely happy. He becomes even more proud of his purchase when he receives compliments on his car from his friends. from the marketing point of view, what concept has contributed to Howard feeling satisfied with his car?
Perceived Value of the car
what can be achieved by marketing by acquiring customer loyalty
acquisition of new customers
In the context of customer satisfaction, what happens when a marketer falls into the trap of underpromising?
less customers try a product
psychographic includes
lifestyle, attitude, and opinion
demographic segmentation divides the market:
based on measurable characteristics about people
why does value evolve?
because the marketing mix evolves
Clyde wants to open a new store in hid neighborhood but needs to first collect relevant data. A cost-effective way to start his research is by:
collecting secondary data to narrow the list of possible locations, then use the results focus primary research efforts on a number of possible locations
Analysis of market share is a key to understand a firm's:
competitive environment
Granite Inc. is a reputable company that has contributed a lot toward the social welfare of the public. Granite Inc. has improved working conditions in its overseas factories and has cut its waste commission by half. To highlight these achievements, the company can publish a(n)
corporate responsibility report
what is a difference between demographic segmentation and geographic segmentation?
demographic refers to dividing the market based on measurable characteristics about people, whereas geographic referent dividing the market based on where customers live
consumer market segmentation includes
demographics geographics psychographic behavioral
what is secondary data
existing data
T or F Escribo Marketing LLC holds annual blood donations camps and conducts other similar charitable events in educational institutions. this is an example of people marketing.
false
business market segmentation includes ...
geographic customer based product-used-based
what is a characteristic of a wet chosen market?
good accessibility
claire sells solar-powered watches what type of market does this scenario exemplifies
green market
development and promotion of products with ecological benefits is
green marketing
what is a drawback of of primary date?
it tends to be more expensive than secondary data
T or F through the use of technology marketers can lower costs and deliver greater value to their customers
true
T or F when it comes to creating customer satisfaction, perceived value is just as important as actual value
true
befits-cost=
value
