Marketing and Product Exchange Quiz
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Marketing and Product Exchange Quiz

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Questions and Answers

What is the main focus of marketers when morphing short-term purchase-transaction exchanges into longer-term relationship marketing?

  • Building customer loyalty (correct)
  • Increasing new customer acquisition
  • Maximizing immediate profits
  • Reducing customer satisfaction
  • In the goods-to-services continuum, what are search qualities related to?

  • Attributes evaluated prior to purchase (correct)
  • Attributes evaluated during purchase
  • Attributes evaluated after purchase
  • Attributes evaluated with experience of the product
  • Why is a clear point of differentiation in the market provision desirable for a company?

  • To sustain competitive advantage (correct)
  • To make commodities more competitively advantageous
  • To increase short-term transactions
  • To reduce customer satisfaction
  • What type of purchases are considered a mix of both goods and services according to the text?

    <p>Consulting services</p> Signup and view all the answers

    What is the main advantage of retaining current customers compared to acquiring new ones?

    <p>Lower cost of acquisition</p> Signup and view all the answers

    What role do database marketing systems play in customer relationship management (CRM)?

    <p>They strengthen customer relationships through data analysis</p> Signup and view all the answers

    What term is used to refer to both goods and services in marketing?

    <p>Product</p> Signup and view all the answers

    In marketing, what do customers offer in exchange for a company's product?

    <p>Payment</p> Signup and view all the answers

    How can a company make its package more attractive according to the text?

    <p>Offering additional services</p> Signup and view all the answers

    What can customers do to make a company's package less attractive, as mentioned in the text?

    <p>Be highly demanding and 'high maintenance'</p> Signup and view all the answers

    What is one of the factors that different segments of customers may seek according to the text?

    <p>Value and low prices</p> Signup and view all the answers

    What does the text mention as a consideration for a company's value proposition?

    <p>Determining what the company is well suited to offer</p> Signup and view all the answers

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