p 12 Customer value refers to A the need of a customer to receive the highest

P 12 customer value refers to a the need of a

This preview shows page 118 - 121 out of 179 pages.

(p. 12)Customer value refers to A. the need of a customer to receive the highest quality product at the lowest possible price.B. the degree to which a customer is willing to sacrifice quality for price.C. the range of price (from lowest to highest) a customer will ultimately be willing to pay for a specific level of quality.D. the potential long-term profits that can be generated by a single customer over time if a firm is able to keep him or her as a loyal customer.E.the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.Key term definition - customer valueAACSB: 3LL: 1Learning Objective: 01-04 Explain how organizations build strong customer relationships and customer value through marketing1-118
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Chapter 01 - Creating Customer Relationships and Value through Marketing101.(p. 12)If you ever talk to anyone who has flown on Singapore Air, you will no doubt hear about the great food that was served during the flight, the friendliness of the air stewards, and the comfortable surroundings. From this description, you can surmise that Singapore Air creates customer value by providing its customers with A. the best airport experience.B. the most convenient flight schedules.C. the best price for the distance traveled.D.the best in-flight service.E. the greatest sense of personal safety.Outstanding customer value is delivered through the implementation of one of three value strategies—best price, best value, or best service. Note that this question does not consider price or flight schedules.AACSB: 3LL: 3Learning Objective: 01-04 Explain how organizations build strong customer relationships and customer value through marketing102.(p. 12)Which of the following statements about customer value is most accurate? A. Firms gain loyal customers by providing unique value.B. Loyal customers are less profitable in the long-run since they expect the lower initial price offering.C. Research suggests that all firms can provide value to everyone.D. It is impossible to place a dollar value on a loyal satisfied customer.E.Quality, price, convenience, on-time delivery, and both before-sale and after-sale service are all elements used to create unique benefits to targeted buyers.Customer value is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service. Firms gain loyal customers by providing unique value which is the essence of successful marketing.AACSB: 3LL: 2Learning Objective: 01-04 Explain how organizations build strong customer relationships and customer value through marketing1-119
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Chapter 01 - Creating Customer Relationships and Value through Marketing103.
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  • Spring '08
  • YENIYURT
  • Marketing, Customer Relationships, A. Marketing, environmental force

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