Question 1

How does a company decide whom it will serve?

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Question 2

Describe and compare the four types of customers classified by their potential profitability to an organization.Identify how an organization should manage each type of customer.

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Question 3

Define customer perceived value.

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Question 4

Ever since the Great Recession,marketers are focusing on value-for-the-money,practicality,and durability in their product offerings and marketing pitches.

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This statement is true. The Great Recession made consumers more cautious about their spending, leading marketers to adjust their strategies to emphasize the practical and economical benefits of their products.

Question 5

Define customer equity and explain why it is important to a company.

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Question 6

Compare the selling and marketing concepts,listing the key components of each philosophy.

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Question 7

Customers can be classified into four relationship groups,according to their profitability and projected loyalty.With reference to this classification,"barnacles" are potentially profitable but not loyal.

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Barnacles are customers who are loyal but not very profitable, often due to low spending or infrequent purchases.

Question 8

Compare and contrast between customer-managed relationships and consumer-generated marketing.

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Question 9

Companies can build customer relationships at many levels,depending on the nature of the target market.Explain the different types of relationships with examples.

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Question 10

Briefly compare and contrast the concepts of needs,wants,and demands,giving an example of each.Discuss how these concepts relate to marketing practices.

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Question 11

The aim of customer relationship management is to create not just customer satisfaction,but customer delight.Explain.

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Question 12

What is marketing? Briefly describe the marketing process.

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Question 13

Briefly explain the societal marketing concept.Give an example of an organization that has effectively used the societal marketing concept.

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Question 14

Explain how the Internet has transformed the way in which we do business today.

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Question 15

In the final step,the company reaps the rewards of its strong customer relationships by capturing value from customers.

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Building strong customer relationships is ultimately done in order to capture value from customers by retaining them, encouraging repeat business, and potentially generating positive referrals and reviews. Therefore, in the final step of the process, the company should indeed be reaping the rewards of its efforts.

Question 16

Discuss the opportunities and advantages that new communication technologies have created for marketers.

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Question 17

Most traditional brick-and-mortar companies have now become click-and-mortar companies.

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With the rise of e-commerce and online shopping, many traditional brick-and-mortar companies have added online sales channels to their business models, making them click-and-mortar companies.

Question 18

Compare and contrast the product and production concepts.

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Question 19

Explain market offerings and marketing myopia.

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Quiz 1: Marketing Creating and Capturing Customer Value