M1S1 Quiz 1 (Part 2)

Question 1

Relationship Orientation (EXPLAIN)

Answer 1

• Focuses on customer retention
• CRM drives customer satisfaction and loyalty.
  -building strong and lasting connections to customer.

Question 2

One-to-one Marketing (EXPLAIN)

Answer 2

• building close relationship with each customers so that the company can offer products or services tailored specifically to their needs.
• Mass Communication

-Advocates a learning relationship so that the company can offer customized product/service

Question 3

change drive impacting the future of Marketing (5)

Answer 3

1. shift to product glut and customer shortage
2. shift in information power from marketer to customer
3. shift in generational value and preference
4. shift in distinguishing Marketing (“Big M”) from Marketing (“little m”).
5. Shift to Demanding return on marketing investment

Question 4

Strategic Marketing, Long-Term Commitment to investing in Marketing strategies. this commitment comes from the top levels of the organization and aims to improve the overall performance of the company.

Answer 4

Marketing (“Big M”)

Question 5

Tactical Marketing, Short Term Goals. is all about practical and operational marketing activities that serve the company and its stakeholders.

Answer 5

Marketing (“little m”)

Question 6

what are the 4 Ps?

Answer 6

1. Product
2. Place
3. Price
4. Promotion