MLT8101 Marketing for Luxury Tourism - Marketing Process Quiz

Customer value is the difference between the customer benefits from owning and/or using a product and the costs of obtaining the product.

Customer satisfaction is perceived value delivered relative to a buyer’s expectations.

Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy customer needs.

<p>A market is a set of actual and potential buyers who might transact with a seller.</p> Signup and view all the answers

<p>Customer Relationship Management is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.</p> Signup and view all the answers

<p>A loyal customer believes in the value of your offering, considers you the best available choice, and continues to choose you over the competition.</p> Signup and view all the answers

<p>To find, attract, keep and grow target customers by creating, delivering, and communicating superior customer value.</p> Signup and view all the answers

<p>Product, Place, Promotion, and Price.</p> Signup and view all the answers

<p>A need is a state of felt deprivation, while a want is how people communicate their needs.</p> Signup and view all the answers

<p>Anything that can be offered to satisfy a need or a want.</p> Signup and view all the answers

<p>The process by which companies create value for customers and society, resulting in strong customer relationships that capture value from the customers in return.</p> Signup and view all the answers

<p>The 4Ps are Product, Place, Promotion, and Price, while the 4Cs are Customer Needs, Convenience, Communication, and Customer Costs.</p> Signup and view all the answers