Marketing Strategy and Process

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Questions and Answers

What is the main difference between satisfied customers and dissatisfied customers in terms of word-of-mouth?

Both satisfied and dissatisfied customers spread favorable word-of-mouth
Satisfied customers spread favorable word-of-mouth while dissatisfied customers spread bad word-of-mouth (correct)
Satisfied customers spread bad word-of-mouth while dissatisfied customers spread favorable word-of-mouth
Neither satisfied nor dissatisfied customers spread word-of-mouth

What is the primary goal of a transaction in the context of exchange and relationships?

To build a desirable relationship with the customer
To obtain a desired object from someone (correct)
To reduce transaction costs
To spread favorable word-of-mouth

Which of the following is an example of a target market?

The entire population of a country
Small businesses
All consumers of a particular product
Families with young children (correct)

What is the main purpose of the marketing mix?

To satisfy customer needs and wants (B) Signup and view all the answers

What is the primary difference between a transaction and a relationship?

A transaction is a one-time exchange, while a relationship is a long-term exchange (B) Signup and view all the answers

Which of the following is a characteristic of a satisfied customer?

They are less price sensitive (D) Signup and view all the answers

What is the primary goal of promoting a product to a target market?

To persuade the customer to buy the product (B) Signup and view all the answers

What is the main benefit of having a loyal customer group?

They are more likely to buy more products and services (C) Signup and view all the answers

What is the primary purpose of the 4 Ps in the marketing mix?

To satisfy customer needs and wants (A) Signup and view all the answers

What is the main difference between a satisfied customer and a loyal customer?

A satisfied customer is more likely to switch to a competitor brand, while a loyal customer is less likely to switch to a competitor brand (D) Signup and view all the answers