Customer perceived value - Study guides, Class notes & Summaries

BUSML 3250 Exam 1 Questions and Answers with Verified Solutions What is marketing? The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Process 1st 4 steps create value for customers, last step captures value from customers Understand marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superi...

DECA Marketing Performance Indicators Questions and Answers Graded A Explain the concept of market and market identification. A market is a group of consumers who have a common interest, need or want of a given good or service. This group of consumers also must be able to purchase the product. Identifying a market is an important activity in marketing as products will not appeal to everyone. Marketers identify markets' common interests by classifying consumer's demographic, geographic and psyc...

Marketing correct answers the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Global Marketing correct answers An organization that engages in global marketing focuses its resources and competencies on global marketing opportunities and threats. The scope of activities outside the home country. Market Penetration Strategy correct answers employs the existing...

WGU D373 Final Exam Review (Latest 2024/ 2025 Update) Marketing in the Digital Era | Questions and Verified Answers|100% Correct| Grade A Q: Marketing Mix (4 P's of marketing) Answer: Price, Place (distribution), Promotion, Product. These are parameters the marketer controls to best appeal to the target market. Q: Expanded Marketing Mix (7 P's of marketing) Answer: Product, price, place (distribution), promotion, people, physical evidence, process Q: What is a va...

marketing - Answer - the activity of creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. - heart of marketing is in making sure exchanges between people and orgs satisfy the objectives of both sides of the exchange. - seeks to serve both buyers and sellers by discovering and satisfying the needs and wants of prospective customers, as well as society overall. Customer value - Answer -the unique combo o...

The sum of the practices and processes that an enterprise uses to manage the total life cycle cost investment in its portfolio of strategic assets is called _________ Total Cost Management ______ is the application of scientific principles and techniques to problems of : - estimation - cost control - business planning & management science - profitability analysis - project management - planning & scheduling Cost Engineering _______ Is the value of an activity or asset. Gene...

BCOR 2304 Final Exam Questions and Answers Already Passed strategy a set of goal-oriented actions a firm takes to gain and sustain better performance over competitors strategy managment combines analysis, formulation, and implementation in finding competitive advantage mastery= view organization as a whole competitive parity two or more firms perform at the same level strategic positioning position in industry that allows firms to provide value to customers, while controlling costs mission r...

BUSML 3250 Final Exam Review with Complete Solutions What is a price? The amount of money charged for a product or service. What is value-based pricing? Price is considered along with other marketing mix variables before the marketing program is set What are the steps in (customer) value-based pricing? 1. Assess customer needs and value perceptions 2. Set target price to match customer perceived value 3. Determine the costs that can be incurred 4. Design product to deliver value...

What is marketing? : The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Process : 1st 4 steps create value for customers, last step captures value from customers Understand marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value Build profitable relationships and create customer del...

Which of the following is a firm effect that has an impact on the competitive advantage of a firm? A) The value and the cost position of the firm relative to its competitors B) The exit barriers within the industry in which the firm operates C) The intensity of rivalry among existing companies in the firm's chosen industry D) The number of companies operating in the industry in which the firm operates correct answers A A firm's business strategy will lead to a competitive advantage if i...