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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?

Consulting services Signup and view all the answers

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

Lower cost of acquisition Signup and view all the answers

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

They strengthen customer relationships through data analysis Signup and view all the answers

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

Product Signup and view all the answers

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

Payment Signup and view all the answers

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

Offering additional services Signup and view all the answers

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

Be highly demanding and 'high maintenance' Signup and view all the answers

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

Value and low prices Signup and view all the answers

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

Determining what the company is well suited to offer Signup and view all the answers