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?

<p>To satisfy customer needs and wants (B)</p> Signup and view all the answers

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

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

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

<p>They are less price sensitive (D)</p> Signup and view all the answers

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

<p>To persuade the customer to buy the product (B)</p> Signup and view all the answers

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

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

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

<p>To satisfy customer needs and wants (A)</p> Signup and view all the answers

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

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

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