Chapter 1: Customer Value, Satisfaction, Relationships, And Experiences

Question 0

Market

Answer 0

People with the desire and ability to buy a specific product.

Question 1

Marketing

Answer 1

The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, and its stakeholders and society at large.

Question 2

Social marketing

Answer 2

Marketing designed to influence the behavior of individuals in which the benefits of the behavior accrue to those individuals or to the society in general and not to the marketer.

Question 3

Ultimate consumers

Answer 3

People weather 80 years old or eight months old who use the goods and services purchased for a household.

Question 4

Organizational buyers

Answer 4

Those many factors, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.

Question 5

Target market

Answer 5

One or more specific groups of potential consumers toward which an organization directs it’s marketing program.

Question 6

Marketing mix

Answer 6

The marketing managers controllable factors; the marketing options of product, price, promotion, and place that he or she can take to create, communicate, and deliver value.

Question 7

Environmental forces

Answer 7

The uncontrollable factors involving social, economic, technological, competitive, and regulatory forces.

Question 8

Marketing program

Answer 8

A plant that integrates the marketing mix to provide a good, service, or idea to prospective buyers.

Question 9

Marketing concept

Answer 9

The idea that an organization should strive to satisfy the needs of consumers, while also trying to achieve the organizations goals.

Question 10

Market orientation

Answer 10

Focusing efforts on (1) continuously collecting information about customers needs and competitors capabilities, (2) sharing this information throughout the organization, and (3) using the information to create value, ensure customer satisfaction, and develop customer relationships.

Question 11

Customer value

Answer 11

Do you need combination of benefits received by the customer that include quality, price, convenience, on-time delivery, and both before sale and after sales service.

Question 12

Customer satisfaction

Answer 12

The match between customer expectations of the product and the product actual performance.

Question 13

Customer relationship management (CRM)

Answer 13

The process of building and developing long-term relationships with customers by delivering customer value and satisfaction.

Question 14

Customer lifetime value (CLV)

Answer 14

The profit generated by the customers purchase of an organization’s product or service over the customers lifetime.

Question 15

eCRM

Answer 15

A web centric, personalized approach to managing long-term customer relationships electronically.

Question 16

Interactive marketing

Answer 16

Involves to wait buyer seller electronic communication in which the buyer can control the kind and amount of information received from the seller.

Question 17

Customer experience management (CEM)

Answer 17

Managing the customers interaction with the organization at all levels and at all touch points (direct and indirect contact the customer with an organization) so that the customer has a positive impression of the organization, is satisfied with the experience, and will remain loyal to the organization.

Question 18

Social media marketing

Answer 18

Consumer generated online marketing efforts to promote brands and companies for which they are fans, or conversely, negatively promoting brands and companies for which they are nonfans, and the use by marketers online tools and platforms to promote their brand organizations.

Question 19

Social CRM

Answer 19

The use of social media to enable organizations to engage customers and collaborative conversation for mutually beneficial value.

Question 20

Ethics

Answer 20

The moral principles and values that govern the actions and decisions of an individual or group.

Question 21

Social responsibility

Answer 21

Individuals and organizations are part of a larger society and are accountable to that society for their actions.

Question 22

Societal marketing concept

Answer 22

The view that an organization to discover and satisfy the needs of its consumers in a way that also provides for society’s well-being.

Question 23

Macro marketing

Answer 23

The aggregate flow of the nations goods and services to benefit society.

Question 24

Micromarketing

Answer 24

How an individual organization direct marketing activities and allocates resources to benefit its customers.