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Questions and Answers
What is the main focus of accountable marketing?
What is the main focus of accountable marketing?
- Providing discounts to increase sales volume
- Direct selling without customer follow-up
- Ensuring product satisfaction and fostering customer relationship (correct)
- Maximizing sales through aggressive tactics
Which statement best describes the concept of the actual product?
Which statement best describes the concept of the actual product?
- The physical attributes, features, and packaging of the product (correct)
- The product's underlying benefits and features
- The customer service and support provided after purchase
- The emotional appeal and branding of the product
What do agents and brokers primarily do in the marketing process?
What do agents and brokers primarily do in the marketing process?
- Manufacture products for wholesale distribution
- Sell products for a commission or percentage of sales (correct)
- Conduct market research for product development
- Provide financing for consumers purchasing products
What does annual plan control assess in a marketing strategy?
What does annual plan control assess in a marketing strategy?
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What is included in the definition of augmented product?
What is included in the definition of augmented product?
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Study Notes
A - Key Marketing Concepts
- Accountable Marketing: Involves proactive follow-up by salespeople with customers to ensure product satisfaction, seek feedback, and suggest improvements.
- Actual Product: Represents the physical attributes of a product, including its features and packaging, crucial for consumer perception.
- Agents and Brokers: Intermediaries that facilitate sales of products for a commission, helping connect manufacturers with consumers.
- Annual Plan Control: A process to evaluate whether marketing objectives were met using established performance standards and targets.
- Augmented Product: Encompasses additional services or benefits customers receive beyond the core product, enhancing overall value.
B - Levels of Customer Value
- Basic and Expected Levels: Fundamental expectations of customers that must be met for business operations to be effective.
- Basic Marketing: The initial level of interaction between a business and consumers, focusing primarily on the sale of products or services.
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