MKTG 6822 Midterm ECU Latest Update -

MKTG 6822 Midterm – ECU Latest Update - 90 Questions with 100% Verified Correct Answers Guaranteed A+ Verified by Professor

• Be a customer value leader.
• Innovate new value for customers.
• Capitalize on the customer as an asset.

4. Capitalize on the brand as an asset. - CORRECT ANSWER: Customer value

imperatives

a plan of action to effectively plan, allocate and coordinate marketing resources and activities to accomplish the firm's objectives within a specific market. - CORRECT

ANSWER: Marketing Strategy

a result that a company aims to achieve and guides the customer value proposition and

business model - CORRECT ANSWER: Business objectives

acceptable level of value. - CORRECT ANSWER: Parity

achieve a better balance of risk and reward by striking into new territory while drawing

on the business' resources and market knowledge. - CORRECT ANSWER: Adjacency

all the activities that the firm links together to create and deliver customer value, including basic inputs to create products/services through the channels to sell, service

and distribute the offering. - CORRECT ANSWER: Value-creating system

approach to screen growth initiatives which promise superior returns within a reasonable level of risk. - CORRECT ANSWER: Real-Win-Worth-It (R-W-W) 1 / 3

best price for adequate level of performance or service. - CORRECT ANSWER: Price value buyers

companies that consistently turn customer value into valuable customers. - CORRECT

ANSWER: Customer Asset Manager

companies that drive growth by innovating new value for current customers and

attracting new customers. - CORRECT ANSWER: Customer Value Innovator

companies that outperform their rivals by delivering superior value to a distinct segment

of the market. - CORRECT ANSWER: Customer value leader

company's ability to help its customers solve a problem that they cannot afford to

ignore, better than any other option available to them. - CORRECT ANSWER: Value

position

complex and abstract representation of the business to achieve profitability fulfillment of

value proposition. - CORRECT ANSWER: Business model

create innovation in existing markets by beating the competition. - CORRECT

ANSWER: Red ocean strategy

create innovation in uncontested markets by making competition irrelevant. - CORRECT

ANSWER: Blue ocean strategy

customers whose needs and desires most closely match company's product or service

offerings. - CORRECT ANSWER: Target customer segment

develop strategies to sell solutions of products and services to customers. - CORRECT

ANSWER: Inside-out strategy 2 / 3

develop strategies with a perspective of market through relentless delivery of value to

customers. - CORRECT ANSWER: Outside-In Strategy

exploitation of existing capabilities - CORRECT ANSWER: little i innovation

exploration of new market spaces - CORRECT ANSWER: Big I innovation

guides decision making related to the expansion of the business. - CORRECT

ANSWER: Growth objectives

how a business creates profit from its transactions. - CORRECT ANSWER: Value-

capture system

how a company considers itself against its competition. - CORRECT ANSWER:

Competitive profile

how a company considers itself against its competition. - CORRECT ANSWER:

Competitive profile

investment in market intelligence from customers. - CORRECT ANSWER: Market

insight

market changes dependent on interactions with customers and competitors. -

CORRECT ANSWER: Market evolution

person who buys a product or service. - CORRECT ANSWER: Customer

possible metrics include innovation inputs, innovation process measures, and innovation performance outcomes. - CORRECT ANSWER: Innovation Metrics

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