Customer Value Strategy
This is the process of building and maintaining profitable customer relationships.
What is customer relationship management (CRM)?
The part of the marketing mix that refers to how much a customer pays.
What is price?
These three concepts are central to understanding customers.
What are needs, wants, and demands?
True or False: Customer-engagement marketing refers to strategies that create two-way interaction and active involvement between a company and its customers
What is true?
True or False: "Price is the only element of the marketing mix that generates revenue; the other three represent costs."
What is true?
Market offerings consist of these three types of elements.
What are products, services, and experiences?
This describes the benefits a company promises to deliver to consumers.
What is a value proposition?
This “P” includes activities like advertising, social media, ect.
What is promotion?
This occurs when companies narrowly focus on products rather than the benefits and experiences produced.
What is marketing myopia?