MKTG 3340 Exam 2 Updated Test 2024.

MKTG 3340 Exam 2 Updated Test 2024. second dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they value from someone they trust superior competitive advantage - correct answer in order to win customers, retailers must offer products and experiences that are better than the competition Khan Retailing Success Matrix - correct answer Lead on Product brand - correct answer branded performance superiority. Ex: Gucci Lead on Experimental - correct answer Enhanced Customer Experience. Ex: Eataly (food, class, store) Lead on Low Price - correct answer operational excellence, lowest costs, efficiencies. Ex: walmart Lead on Frictionless - correct answer Comprehensive Customer understanding and total convenience. Ex: Amazon digital experience paradox - correct answer Digital touchpoints increasing, controlled by consumer not retailer. Retailers must leverage data, gain customers trust, and proactively meet their needs to keep them loyal Two quadrant winning strategy - correct answer Being in two quadrants at once. Ex: Costco as experimental and low price