Chapter 1 Marketing

<p>Customer value subtracted by customer costs (A)</p> Signup and view all the answers

<p>Building and maintaining profitable customer relationships (D)</p> Signup and view all the answers

<p>Weaknesses and Strengths (B)</p> Signup and view all the answers

<p>Meeting customer needs and wants (B)</p> Signup and view all the answers

<p>Strategic leverage over rivals in an industry (D)</p> Signup and view all the answers

<p>To capture value from customers (B)</p> Signup and view all the answers

<p>Establishing a customer-driven strategy requires determining needs and wants first (B)</p> Signup and view all the answers

<p>Permission (B)</p> Signup and view all the answers

<p>The set of benefits a company promises to deliver to customers (A)</p> Signup and view all the answers

<p>Emphasizing customer needs as core to the marketing strategy (C)</p> Signup and view all the answers

<p>By constantly improving its offerings and relationships (C)</p> Signup and view all the answers

<p>To achieve profits through customer value (B)</p> Signup and view all the answers

<p>The distribution channels through which products reach customers (A)</p> Signup and view all the answers

<p>States of deprivation from essential items (B)</p> Signup and view all the answers

<p>Desires shaped by culture and individual personalities (D)</p> Signup and view all the answers

<p>Wants that are supported by the ability to purchase (D)</p> Signup and view all the answers

<p>A mix of products, services, information, or experiences (B)</p> Signup and view all the answers

<p>Losing sight of underlying needs by concentrating only on current wants (B)</p> Signup and view all the answers

<p>Random segmentation without a defined strategy (B)</p> Signup and view all the answers

<p>Different geographical units and regions (B)</p> Signup and view all the answers

<p>Behavioral segmentation (B)</p> Signup and view all the answers

<p>The value of the entire stream of purchases a customer would make over their lifetime (D)</p> Signup and view all the answers

<p>The percentage of a customer's total purchases that a company captures in its product categories (B)</p> Signup and view all the answers

<p>Characteristics of the firm that cause disadvantages (A)</p> Signup and view all the answers

<p>To compare business processes and performance metrics against industry standards (C)</p> Signup and view all the answers

<p>A framework for generating and selecting strategies based on an analysis of threats and opportunities (A)</p> Signup and view all the answers

<p>Need Recognition (C)</p> Signup and view all the answers

<p>The inputs and responses to environmental stimuli (B)</p> Signup and view all the answers

<p>Purchasing and brand loyalty (A)</p> Signup and view all the answers

<p>An event classified as a threat in the external environment (A)</p> Signup and view all the answers

<p>Information Sources (C)</p> Signup and view all the answers

<p>They can create obstacles between purchase intention and final outcome (A)</p> Signup and view all the answers

<p>Brand recognition (D)</p> Signup and view all the answers

<p>The total customer lifetime values of all the company's customers (A)</p> Signup and view all the answers

<p>They serve as the inputs that affect consumer behavior (C)</p> Signup and view all the answers

Customers, Competition, and Company; essential factors in marketing strategy.

The process where companies build strong relationships by satisfying customer needs.

The art and science of selecting target markets and building profitable relationships.

The benefits or values promised to be delivered to customers to satisfy their needs.

Product, Price, Promotion, Place; the key elements of a marketing strategy.

Focuses on telling and selling rather than building relationships.

Emphasizes building customer relationships and satisfaction.

Steps from identifying needs to delivering value and achieving profits.

States of deprivation; lacking something essential.

Desires shaped by culture and individual personality.

Wants backed by purchasing power; readiness to buy.

Combination of products, services, or experiences to satisfy needs or wants.

Focusing solely on existing wants, ignoring deeper needs.

Dividing the market based on variables like age, gender, and income.

Dividing the market into different geographical units.

Dividing the market based on social classes and lifestyles.

The process of dividing a total market into smaller groups based on similar needs.

Evaluating market segments and selecting attractive ones to focus on.

Building and maintaining profitable customer relationships through value delivery.

The difference between total customer value and total customer cost.

The extent to which product performance meets buyer expectations.

Resources and capabilities that can provide a competitive advantage.

Areas where a company lacks resources or capabilities compared to competitors.

A marketing concept focusing on delivering value in a way that benefits society.

The total value a customer brings over their entire relationship with a business.

The percentage of a customer's total spending in a category that goes to a specific company.

The sum of lifetime values of all customers of a company.

Comparing business processes to industry standards to improve performance.

A tool for generating and selecting strategies based on internal and external factors.

The study of how individuals make decisions to spend their resources on consumption.

A market consisting of individuals who purchase goods and services for personal consumption.

External factors that influence consumer consumption decisions, including marketing inputs.

The steps consumers go through before, during, and after making a purchase.

The first stage in the decision process where a consumer identifies a gap between their current and desired state.

The ways consumers gather information before making a purchase decision.

The stage where consumers select a product based on gathered information.

The stage after purchase where consumers evaluate their satisfaction level with the product.

Behaviors exhibited by consumers such as purchasing and brand loyalty.

External influences affecting the purchase process, like time pressure or store layout.