30 Questions
What is the main focus of marketing according to the text?
Satisfying consumers' needs and wants
Which of the following is NOT one of the Four P's of the Marketing Mix?
Performance
What does Relationship Marketing focus on?
Building long-term relationships with customers
What is the key goal of Internal Marketing?
Delivering customer value through employees
What is the primary purpose of Strategic Planning in marketing?
To capture marketing insights and performance
What does Holistic Marketing aim to achieve?
Develop marketing networks
What is the purpose of a marketing plan?
Directing and coordinating the marketing effort
What is the main focus of Holistic Marketing?
Building long-term, mutually satisfying relationships
According to Michael Porter, what is the Value Chain?
A tool for identifying ways to create more customer value
What does the Three V's Approach to Marketing focus on?
Creating value
What are considered Characteristics of Core Competencies according to the text?
A source of competitive advantage
How does the Value Delivery Process aim to build relationships?
By integrating value exploration, creation, and delivery activities
What is a key concept related to managing customer data?
Data mining
Which action is part of attracting and retaining customers?
Terminating low-profit customers
What should not be done when building a customer database?
Ignoring consumer characteristics
What is the purpose of using the database to deepen loyalty?
To reactivate customers
Which factor does not justify avoiding building a customer database?
The cost of gathering information is too low
Which activity is part of the framework for CRM (Customer Relationship Management)?
Identifying prospects and customers
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.
Which brand personality trait is associated with MTV according to the text?
Excitement
What market segment involves organic foods, energy-efficient appliances, and alternative medicine?
LOHAS market
According to Freud's Theory, what guides behavior?
Subconscious motivations
In Maslow's Hierarchy of Needs, what does Need 2 represent?
Clean air for breathing
What induces changes in behavior arising from experience according to the text?
Learning
What is customer perceived value?
The difference between the customer's evaluation of benefits and costs of a product compared to alternatives
What does total customer cost include?
Monetary cost, time cost, energy cost, and psychological cost
What makes up the total customer value?
Product value, services value, personal value, and image value
Which of the following is a determinant of customer perceived value?
Product value
In understanding customer perceived value, what is the role of image value?
It contributes to the bundle of economic, functional, and psychological benefits expected
Which best describes total customer cost?
The bundle of costs customers expect to incur in evaluating a market offering
Test your knowledge about customer value, satisfaction, loyalty, lifetime value of customers, database marketing, and strategies to attract and retain customers for cultivating strong relationships.
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