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Business 101 Chapter 11. Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution CA$11.47   Add to cart
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Business 101 Chapter 11. Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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Business 101 Chapter 11. Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 19, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • business 101 chapter 11 questions with 100 actua

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  • Business 101
  • Business 101
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Business 101 Chapter 11
Marketing - ANS-create, communicate, and deliver value to customers and manage
customer relationships in ways that benefit the organization and its stakeholders

Utility - ANS-ability of goods and services to satisfy wants

Marketing concept - ANS-A business philosophy that makes customer satisfaction,now
and in the future,the central focus of the entire organization.

Customer relationship management (CRM) - ANS-ongoing process of acquiring,
maintaining, and growing profitable customer relationships by delivering unmatched
value

Value - ANS-The extent to which a good or service is perceived by its customer to meet
his or her needs or wants, measured by customer's willingness to pay for it

Customer satisfaction - ANS-felt by customers when they perceive their service or a
good delivers value above and beyond their expectations

Customer loyalty - ANS-customers buy a product from the same supplier over and over
again

Marketing plan - ANS-formal document defining marketing objectives and the specific
strategies for achieving those objectives and deciding where to target those objectives
and evolving strategies through market segmentation

Market segmentation - ANS-dividing potential customers into groups of similar people or
segments

Target market - ANS-The group of people who are most likely to buy a particular
product.

Consumer marketers (business-to-consumer (B2C) - ANS-Marketers who direct their
efforts toward people who are buying products for personal consumption.

Business marketers (business - ANS-to-business or B2B)-Marketers who direct their
efforts toward people who are buying products to use either directly or indirectly to
produce other products.

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