10 Questions
What term refers to intangible customer benefits that cannot be separated from the producer?
Services
Which concept reflects the relationship of benefits to costs in marketing?
Price
What does 'relational orientation' focus on in building relationships with customers?
Developing long-term relationships
In marketing, what refers to the customer segment a firm is interested in selling its products to?
Target market
Which term describes the particular way in which a person chooses to satisfy a need influenced by knowledge, culture, and personality?
Want
What is the primary distinction between B2B and B2C transactions?
B2B transactions involve selling to businesses, while B2C transactions involve selling to consumers.
Which of the following is NOT a component of the marketing mix (four Ps)?
Personnel
What is the primary goal of customer relationship management (CRM)?
To identify and build loyalty among a firm's most valued customers.
In the context of marketing, what is the difference between a need and a want?
A need is a basic necessity, while a want is a desire for something non-essential.
What is the primary purpose of a marketing plan?
To analyze the current market situation and develop strategies to address opportunities and threats.
Test your knowledge on different business models and customer relationships such as B2B, B2C, C2C, and CRM. Learn about selling processes between businesses, from businesses to consumers, and from consumers to consumers.
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