10 Questions
What is the key factor that influences customer satisfaction?
The difference between pre-purchase expectation and post-purchase experience
What is the primary task of marketing?
To get the product or service recognized by the market
What is the outcome of marketing helping to create public awareness of a company's products and services?
Increased sales and revenue growth
What is the purpose of marketers continuously aiming to create an image of the company?
To create brand name recognition
What is the equation used to determine the level of a customer's satisfaction?
Customer Satisfaction=Experience – Expectation
What is the primary purpose of associating a brand name with images, logos, or captions in advertisements?
To enable consumers to easily recognize and remember the brand
Which of the following is NOT a type of utility created by marketing?
Financial utility
What is the primary benefit of marketing to customers in terms of product choices?
Offering a large number of product choices
How has technology impacted marketing, according to the text?
It has increased the number of platforms available
What is a social responsibility initiative mentioned in the text?
HUL's Behaviour Change Programme
Study Notes
Customer Satisfaction
- Customer satisfaction occurs when their expectations match the actual performance of a product.
- Customer satisfaction is a personal experience that varies from individual to individual.
- Satisfaction can be measured by comparing pre-purchase expectations and post-purchase experience.
- The equation to determine customer satisfaction is: Customer Satisfaction = Experience - Expectation
Importance of Marketing
To Marketers
- Marketing promotes product awareness to the public through heavy advertising, sales promotion, personal selling, and direct marketing.
- Marketing helps enhance product sales and revenue growth by creating awareness and generating sales.
- Marketing builds company reputation by creating an image of the company in the public's eyes.
To Customers
- Marketing promotes product awareness to the public, creating awareness about products and services.
- Marketing helps in enhancing product sales by generating sales and revenue growth.
- Marketing builds a company's reputation, creating an image of the company in the public's eyes.
- Marketing creates utilities, such as form, place, time, information, and possession utility.
- Marketing provides a large number of choices available to customers.
- Marketing offers more platforms available to customers, including offline and online platforms.
To the Society
- Marketing is a source of employment, offering a wide range of career opportunities in personal selling, packaging, advertising, marketing research, consultancy, distribution, and channel sales.
- Marketing contributes to the welfare of customers and stakeholders through corporate social responsibility initiatives.
- Examples of corporate social responsibility initiatives include HUL's Behaviour Change Program and 'Help A Child Reach 5'.
This quiz covers the concept of customer satisfaction, its measurement, and importance in marketing. Learn how expectations and experience impact satisfaction and how it's measured.
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