Principles of Marketing Exam

It is the process of developing and exchanging ideas, goods and distribution.

The company work continuously with the customer and with other customer to discover ways to deliver better value.

Using the customer's name is very effective in producing loyalty.

A group of customers who have both willingness and financial capability to purchase a particular product.

The company salesperson sells the product but does not follow up in any way.

A type of demand where product is disliked in general; product may be beneficial but the customer does not want it.

The salesperson phones the customer a short time after the sale to check whether the product is meeting the customer's expectation.

Consumers desire to purchase products and willingness to pay a price for a specific product.

Is a facet of CRM that focuses on customer loyalty and long term customer engagement rather than shorter term goals like customer acquisition.

A total demand for all potential customers for a specific product over a specific period in a specific market area.