Customer Value, Satisfaction, and Loyalty Quiz

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What is the main focus of marketing according to the text?

Maximizing profits

Competing with other companies

Satisfying consumers' needs and wants (correct)

Selling as many products as possible

Which of the following is NOT one of the Four P's of the Marketing Mix?

Performance (correct)

Place

Product

Promotion

What does Relationship Marketing focus on?

Building long-term relationships with customers (correct)

Maximizing short-term profits

Focusing on advertising

Creating as many products as possible

What is the key goal of Internal Marketing?

Delivering customer value through employees Signup and view all the answers

What is the primary purpose of Strategic Planning in marketing?

To capture marketing insights and performance Signup and view all the answers

What does Holistic Marketing aim to achieve?

Develop marketing networks Signup and view all the answers

What is the purpose of a marketing plan?

Directing and coordinating the marketing effort Signup and view all the answers

What is the main focus of Holistic Marketing?

Building long-term, mutually satisfying relationships Signup and view all the answers

According to Michael Porter, what is the Value Chain?

A tool for identifying ways to create more customer value Signup and view all the answers

What does the Three V's Approach to Marketing focus on?

Creating value Signup and view all the answers

What are considered Characteristics of Core Competencies according to the text?

A source of competitive advantage Signup and view all the answers

How does the Value Delivery Process aim to build relationships?

By integrating value exploration, creation, and delivery activities Signup and view all the answers

What is a key concept related to managing customer data?

Data mining Signup and view all the answers

Which action is part of attracting and retaining customers?

Terminating low-profit customers Signup and view all the answers

What should not be done when building a customer database?

Ignoring consumer characteristics Signup and view all the answers

What is the purpose of using the database to deepen loyalty?

To reactivate customers Signup and view all the answers

Which factor does not justify avoiding building a customer database?

The cost of gathering information is too low Signup and view all the answers

Which activity is part of the framework for CRM (Customer Relationship Management)?

Identifying prospects and customers Signup and view all the answers

What is the purpose of Joie de vivre chain of hotels' online personality matchmaker?

To help guests select the most fitting hotel based on their personality. Signup and view all the answers

Which brand personality trait is associated with MTV according to the text?

Excitement Signup and view all the answers

What market segment involves organic foods, energy-efficient appliances, and alternative medicine?

LOHAS market Signup and view all the answers

According to Freud's Theory, what guides behavior?

Subconscious motivations Signup and view all the answers

In Maslow's Hierarchy of Needs, what does Need 2 represent?

Clean air for breathing Signup and view all the answers

What induces changes in behavior arising from experience according to the text?

Learning Signup and view all the answers

What is customer perceived value?

The difference between the customer's evaluation of benefits and costs of a product compared to alternatives Signup and view all the answers

What does total customer cost include?

Monetary cost, time cost, energy cost, and psychological cost Signup and view all the answers

What makes up the total customer value?

Product value, services value, personal value, and image value Signup and view all the answers

Which of the following is a determinant of customer perceived value?

Product value Signup and view all the answers

In understanding customer perceived value, what is the role of image value?

It contributes to the bundle of economic, functional, and psychological benefits expected Signup and view all the answers

Which best describes total customer cost?

The bundle of costs customers expect to incur in evaluating a market offering Signup and view all the answers