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MBA 706 Test 2 questions and answers verified answers||Latest 2024/2025 $10.99   Add to cart

Exam (elaborations)

MBA 706 Test 2 questions and answers verified answers||Latest 2024/2025

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MBA 706 Test 2 questions and answers verified answers||Latest 2024/2025

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  • August 23, 2024
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  • MBA - 706 Darrat
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MBA 706 Test 2

Customer perceived value - ANSis a ratio of the customer's perception of all the benefits and
costs of your product /service vs. the perceived alternatives

Total customer benefit - ANSthe perceived bundle of economic, functional, and psychological
benefits associated with a product.

Total customer cost - ANSthe perceived bundle of costs customers expect to incur in evaluating,
obtaining, using, and disposing of the product (monetary, time, energy, and psychological costs)

True - ANST/F Marketers can increase perceived value by raising economic, functional, or
emotional benefits and/or reducing one or more costs.

customer value analysis - ANSreveals the company's strengths and weaknesses relative to
those of various competitors

Loyalty. (Loyalty is not accepting a substitute for the brand.) - ANSis a deeply held commitment
to rebuy a product/service in the future despite situational influences which cause switching
behavior

value proposition - ANSa promise about the experience customers can expect from the
company's offering and their relationship with the supplier.

value delivery system - ANSincludes all the experiences the customer will have on the way to
obtaining and using the offering.

Quality - ANSrepresents the total features and characteristics of a product with regard to its
ability to satisfy stated or implied needs

Conformance - ANS___ quality represents "freedom from variation"

performance - ANS____quality has to do with functionality and fitness for use.

Midsize - ANS___ customers who receive good service and pay nearly full price are usually the
most profitable.

Customer lifetime value - ANSthe present value of the stream of future profits expected over the
customer's lifetime purchases

True (except for loyal customers whose purchasing increases with time) - ANST/F Lifetime
value is generally a bell curve

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