Marketing an Introduction, Gary Armstrong
Chapter 1: Managing profitable customer relationships
Chapter 1: Managing profitable customer relationships
Set of flashcards Details
| Flashcards | 46 |
|---|---|
| Language | English |
| Category | Marketing |
| Level | University |
| Created / Updated | 15.04.2013 / 28.06.2022 |
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Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. This reflects the ________.
You have just taken a new position in an organization and you're learning about the job functions of your new colleagues. You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships. Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction. Your manager is concerned with which one of the following?
The __________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will chose products that offer high quality, performance, and innovative features.
Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
_________ is the act of obtaining a desired object from someone by offering something in return
A firm that uses the sellinc concept takes a(n) ________ approach
The final step in the marketing process is ___________.
According to management guru Peter Drucker, "the aim of marketing is to __________."
Marie Oriitz enjoys her work at Futuristic Designs. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands. Marie's firm practices _________ marketing.
_________ is the total combined customer lifetime values of all the company'ss current and potential customers.
Perhaps the most important concept of modern marketing is ________ .
Which of the following best explains why consumers have greater power and control in today's marketplace?
Even the most liberal advocates of free-market economics agree that the system works best with _________.
The art and science of choosing target markets and building profitable relationships with them is called ________ .
All of the following are accurate descriptions of modern marketing today, except which one?
Which of the following is central to any definition of marketing?
At home, at school, at work, and at the local supermarket, Europeans see _____ almost everywhere they go.
According to the simple five-step model of the marketing process, a company needs to _____ before designing a customer-driven marketing strategy.
When backed by buying power, wants become ________.
When marketers set low expectations for a market offering, they run the risk of ________.
In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow their business
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.
In the case of excess demand, ________ may be required to reduce the number of customers or to shift demand temporarily or permanently
Selecting which segments of a population of customers to serve is called ________.
________ is the set of benefits a company promises to deliver its consumers to satisfy their needs
Which of the following marketing management concepts is most likely to lead to marketing myopia?
The product concept says that a company should ________.
The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.
Which of the following reflects the marketing concept philosophy?
When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.
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