MM class quiz 1

Functional value consists of

• Features ,Performance

• Experiences &Feelings

• Status and Social acceptance

Social value consists of

• Features ,Performance

• Experiences &Feelings

• Status and Social acceptance

Emotional value consists of

• Features ,Performance

• Experiences &Feelings

• Status and Social acceptance

Companies can create customer value by differentiating their products or services from competitors, offering unique features, superior quality, or innovative solutions that fulfill customer needs better than alternatives.what is it?

• Total Customer Experience

• Customer-Centric Approach

• Product/Service Differentiation

Taking a customer-centric approach, companies identify and understand customer needs, preferences, and pain points to develop products or services that address those needs effectively and provide superior value.what is it?

• Total Customer Experience

• Customer-Centric Approach

• Product/Service Differentiation

Companies strive to provide a positive and memorable overall customer experience at every touchpoint, ensuring that every interaction adds value and contributes to customer satisfaction..what is it?

• Total Customer Experience

• Customer-Centric Approach

• Product/Service Differentiation

Which of the following is a pricing strategy that sets prices based on the perceived value of the product?

• Cost-based pricing

• Competition-based pricing

• Value-based pricing

• Demand-based pricing

The marketing concept revolves around:

• Maximizing company profits at any cost

• Meeting the needs of customers while ignoring competitors

• Satisfying customer needs and wants profitably

• Reducing marketing expenditures to increase short-term profits

Which of the following is a characteristic of relationship marketing?

• Short-term focus on transactional profits

• Long-term customer retention

• Minimal investment in customer service

• Rapid product development cycles

Which of the following is an example of cause-related marketing?

• A company donates a portion of its profits to an environmental organization

• Offering discounts to loyal customers

• Conducting a celebrity endorsement campaign

• Implementing a sales promotion for a new product