Learning: Ch 01: Marketing: Creating Customer Value and Engagement

CH 1 Dynamic Study Module

Which statements about the marketing concept are true? Select all correct answers.

• The marketing concept focuses on customer needs.

• The marketing concept starts with a well-defined market.

__________ is the portion of the customer’s purchasing that a company gets in its product categories.

Share of customer

Marketing is defined as __________

the set of strategies and activities by which companies acquire and engage customers, build strong customer relationships, and create superior customer value to capture value from customers in return

__________ is the total combined customer lifetime values of all of the company’s customers

Customer equity

Customer relationship management is __________

the overall process of building and maintaining profitable bonds with consumers by delivering superior customer value and satisfaction