1. Customers prefer one brand over another based on its value, which, in turn, is based on different combinations of a. perceptions and costs. b. needs and wants. c. benefits and perceptions. d. benefits and costs.
1.
Customers prefer one brand over another based on its value, which, in turn, is based on different combinations of
a.
perceptions and costs.
b.
needs and wants.
c.
benefits and perceptions.
d.
benefits and costs.
2.
Understanding your target market so well that you build a relationship with them over time defines what?
a.
a social orientation
b.
a sales orientation
c.
customer relationship marketing
d.
retention of sometimes undesirable customers
3.
Which statement is valid in managing exchanges between a company and its customers?
a.
The company wants to maximize customer benefits
b.
Customers are the primary drivers of the purchase decisions.
c.
Customers want to pay the least amount possible
d.
The two parties have conflicting goals
4.
Cover Co. is a new company with two employees: the husband and wife that founded the company. Cover makes trash can covers that help keep outdoor trash cans secure. Which segmentation method would Cover be least likely to use and why?
a.
Geographic segmentation because the use of trash cans isn’t dependent upon geography
b.
Psychographic segmentation because the variables are difficult for marketers to measure
c.
Behavioral segmentation because behavioral variables have little effect on the use and need for a trash can cover
d.
Demographic segmentation because nearly every household utilizes trash cans.
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