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Pricing Schools Business

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Marketing Fundamentals: Defining Customer Experience

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Marketing Fundamentals: Defining Customer Experience

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Questions and Answers

What is the main reason for Coca-Cola's competitive advantage in the soft-drink market?

Its product quality

Its customer service

Its competitive pricing strategies

Its distribution and marketing communications (correct)

What is the key distinctive competency of JetBlue Airlines?

Pricing strategies

Distribution and marketing communications

Customer service (correct)

Product quality

What is the main benefit that Amazon.com provides to its customers?

Low prices

Availability, convenience, and ease of access (correct)

Free shipping

High-quality products

What is the main reason for Apple's competitive advantage in the computer market?

Its innovative design and technology (D) Signup and view all the answers

What is the primary goal of a company's value chain?

To change raw materials into a product the customer buys (C) Signup and view all the answers

What is the main benefit that Starbucks provides to its customers?

High-quality products (D) Signup and view all the answers

What is the primary factor that determines the success of a product?

The customer experience (D) Signup and view all the answers

According to the AMA definition, what is the primary goal of marketing?

To deliver offerings that have value for customers (D) Signup and view all the answers

What is involved in the marketing process?

Interactions with non-marketers, such as finance and HR (B) Signup and view all the answers

What is the primary condition for exchange to occur?

At least two people or organizations must be willing to make a trade (B) Signup and view all the answers

What is the primary focus of marketing?

Creating, communicating, delivering, and exchanging offerings that have value for customers (B) Signup and view all the answers

What is the customer experience (CX or CEX) defined as?

The customer's overall assessment of every interaction the customer has experienced with a business (A) Signup and view all the answers

What is the primary component of a value proposition from the customer's perspective?

The whole bundle of benefits (C) Signup and view all the answers

Why do sellers see customers as partners in transactions?

To provide value to the customers (A) Signup and view all the answers

What do marketers calculate to understand the importance of retaining customers?

Lifetime value of a customer (B) Signup and view all the answers

What is a prerequisite for a firm to provide value to its customers?

A distinctive competency (D) Signup and view all the answers

What is the result of turning a distinctive competency into a differential benefit?

A competitive advantage (D) Signup and view all the answers

What is the outcome of offering customers a benefit that they can't get from competitors?

A competitive advantage (B) Signup and view all the answers