Business Models and Customer Relationships Quiz
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Questions and Answers

What term refers to intangible customer benefits that cannot be separated from the producer?

  • Services (correct)
  • Want
  • Value
  • Relational orientation
  • Which concept reflects the relationship of benefits to costs in marketing?

  • Target market
  • Supply chain
  • Price (correct)
  • Social media
  • What does 'relational orientation' focus on in building relationships with customers?

  • Offering discounts
  • Short-term sales
  • Developing long-term relationships (correct)
  • Online advertising
  • In marketing, what refers to the customer segment a firm is interested in selling its products to?

    <p>Target market</p> Signup and view all the answers

    Which term describes the particular way in which a person chooses to satisfy a need influenced by knowledge, culture, and personality?

    <p>Want</p> Signup and view all the answers

    What is the primary distinction between B2B and B2C transactions?

    <p>B2B transactions involve selling to businesses, while B2C transactions involve selling to consumers.</p> Signup and view all the answers

    Which of the following is NOT a component of the marketing mix (four Ps)?

    <p>Personnel</p> Signup and view all the answers

    What is the primary goal of customer relationship management (CRM)?

    <p>To identify and build loyalty among a firm's most valued customers.</p> Signup and view all the answers

    In the context of marketing, what is the difference between a need and a want?

    <p>A need is a basic necessity, while a want is a desire for something non-essential.</p> Signup and view all the answers

    What is the primary purpose of a marketing plan?

    <p>To analyze the current market situation and develop strategies to address opportunities and threats.</p> Signup and view all the answers

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