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BUS 2600 Marketing Exam Study Questions Solved 100% Correct
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BUS 2600 Marketing Exam Study Questions Solved 100% Correct
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BUS 2600 Marketing Exam Study QuestionsSolved 100% Correct
marketing 3.0 - ✔✔Belief that marketers should approach consumers as whole
human beings with minds, hearts and spirits
purpose-driven marketing - ✔✔aka marketing 3.0
four p's of marketing - ✔✔Product, Price, Place, Promotion
customer-perceived value - ✔✔the customer's evaluation of the difference between
all the benefits and all the costs of a marketing offer relative to those of competing
offers
customer satisfaction - ✔✔the extent to which a product's perceived performance
matches a buyer's expectations
customer-engagement marketing - ✔✔fostering direct and continuous customer
involvement in shaping brand conversations, brand experiences, and brand community
customer-managed relationships - ✔✔marketing relationships in which customers,
empowered by today's new digital technologies, interact with companies and with each
other to shape their relationships with brands
consumer-generated marketing - ✔✔brand exchanges created by consumers
themselves - both invited and uninvited - by which consumers are playing an increasing
role in shaping their own brand experiences and those of other consumers
, partner relationship management - ✔✔working closely with partners in other
company departments and outside the company to jointly bring greater value to
customers
customer lifetime value - ✔✔the value of the entire stream of purchases a customer
makes over a lifetime of patronage
share of customer - ✔✔the portion of the customer's purchasing that a company gets
in its product categories
customer equity - ✔✔the total combined customer lifetime values of all of the
company's customers
four customer relationship groups - ✔✔butterflies, true friends, strangers, and
barnacles
Steps of the marketing process - ✔✔1. Understand the marketplace and customer
needs and wants
2. Design a customer-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Build profitable relationships and create customer delight
5. Capture value from customers to create profits and customer equity
Strategic planning - ✔✔the process of developing and maintaining a strategic fit
between the organization's goals and capabilities and its changing marketing
opportunities
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