Marketing: Creating and Capturing Customer Value

12 important questions on Marketing: Creating and Capturing Customer Value

5 variables which influence consumer behaviour

1. cultural
2. social
3. Personal
4. Psych. 
5. Buyer

What is a persons lifestyle?

person's pattern of living as expressed in his or her AIO dimensions.

Give some examples of psychological influence?

motives, our perception process, learning, and attitudes.
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Where does high involvement purchase lead to

more active, careful decision making

What does CRM consist of?

Sophisticated software and analytical tools that integrate customer information from all sources, analyze it in depth, and apply the results to build stronger customer relationships.

What does primary data consist of

information collected for the specific purpose at hand.

What are the five core customer and market place concepts?

1. Needs, wants and demands;
2. Market offering (products, services, and experiences)
3. Value and satisfaction
4. Exchange and relationships
5. Markets

Explain consumer value and satisfaction?

The customer's expectations of a product before buying it. Setting the right level of expectation is the key to success in developing and sustaining customer relationships.

How are exchange relationships built and maintained?

With a target audience through the transfer of objects, ideas, services and products.

What is a brand's value proposition?

The set of values and benefits promised to be delivered to customers to satisfy their needs.

What is the main difference between a product centered and a marketing centered philosophy?

The product  centered is a make-and-sell philosophy and the marketing centered is a sense-and-respond philosophy.

Changes in the marketing environment affect both customer and marketers, name 5 dynamics that do this?

1. Uncertain economic environment
2. Digital age
3. Globalization
4. Social responsibility marketing
5. Non-profit marketing

The question on the page originate from the summary of the following study material:

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