Marketing Test

What is customer value?

• value of a consumer to businesses

• the value a customer receives when they use a good or service

• Delivery of value to customers at a profit

In customer value what are perceived benefits?

• Product Benefits

• Profit Benefits

• Service Benefits

• Image Benefits

• Customer benefits

What is perceived sacrifice of customer value

• Monetary costs

• Time Costs

• Energy Costs

• Psychological Costs

• Labour costs

Key Components of Marketing concepts?

• Customer Orientation

• Producer Benefits

• Integrated Effort

• Goal Achievement

• Management process

What is the definition of marketing concept?

• Something companies should do to secure effective and efficient success.

• A philosophical approach for doing business

• achievement of corporate goals through meeting and exceeding customers needs better than competition

• A set of managerial functions which are carried out by many organisations

What are the key forms of customer value?

• Price Value

• Performance Value

• Emotional Value

• Relational Value

• Relative value

What are two central functions of business as stated by Peter Drucker

• Innovation

• Strategies

• Profits

• Marketing

• Costs

When was production orientation the focus of marketing concepts?

• 1850 - 1900

• 1900 - 1950

• 1950 - 2000+

When was Sales orientation the focus in the evolution of marketing concepts

• 1850 - 1900

• 1900 - 1950

• 1950 - 2000+

When was marketing orientation the focus in the evolution of marketing concepts?

• 1850 - 1900

• 1900 - 1950

• 1950 - 2000+