12 Questions
What is the main focus of marketers when morphing short-term purchase-transaction exchanges into longer-term relationship marketing?
Building customer loyalty
In the goods-to-services continuum, what are search qualities related to?
Attributes evaluated prior to purchase
Why is a clear point of differentiation in the market provision desirable for a company?
To sustain competitive advantage
What type of purchases are considered a mix of both goods and services according to the text?
Consulting services
What is the main advantage of retaining current customers compared to acquiring new ones?
Lower cost of acquisition
What role do database marketing systems play in customer relationship management (CRM)?
They strengthen customer relationships through data analysis
What term is used to refer to both goods and services in marketing?
Product
In marketing, what do customers offer in exchange for a company's product?
Payment
How can a company make its package more attractive according to the text?
Offering additional services
What can customers do to make a company's package less attractive, as mentioned in the text?
Be highly demanding and 'high maintenance'
What is one of the factors that different segments of customers may seek according to the text?
Value and low prices
What does the text mention as a consideration for a company's value proposition?
Determining what the company is well suited to offer
Test your understanding of marketing and product exchange through this quiz. Learn about how companies offer products to customers in exchange for something valuable, and how customers benefit from these offerings.
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