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MKT 100 Chapter : Module Four

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6 Feb 2012

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Ryerson University

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MKT 100 Full Course Notes

MKT 100 Full Course Notes

Document Summary

Getting closer to the customer customer research processes are being simplified to make them more timely and useful. Eliminating the number of people between the designer and the customer in product development research. The goal is to understand your customer better than other suppliers market power. Do not become fixated on particular research methods such as, focus groups or supermarket scanner data analysis. Private information: a firm profits from unique information and insights it has about production techniques and trade secrets. Insight a business has about the behaviour of customers that is not common knowledge -- changing consumer preferences, buying behaviours. Insightful interpretation acts as a powerful driver of competitive success and profitability. An important research activity of a business is to track customer satisfaction/dissatisfaction and trends in demand, done by tracking returns, customer complaints and surveying customers modern market research.

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Related Questions

The segmentation process begins by grouping:

a. competitors with similar needs and preferences.

b. customers with similar lifetime values.

c. market offerings with similar sales potential.

d. customers with similar needs and preferences.

e. customers with similar demographic profiles

Which of the following statements is true of customer relationship management?

A. It is used more by sales-oriented firms than market-oriented firms.

B. It involves linking all processes of a company from its customers through its suppliers.

C. It tries to convince potential customers to buy, even if the seller knows that the customer and the product are mismatched.

D. It is most extensively used by production-oriented firms.

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Which of the following statements regarding direct marketing is most accurate?

a)Many customers believe direct marketing saves time, is entertaining, and offers privacy.

b)Direct selling provides less customer service than direct response marketing.

c)Although direct marketing usually saves customers time, it does not usually save customers money.

d)Direct customers feel that their privacy is more likely to be compromised with direct marketing than with other methods.

e)Although direct marketing can save consumers time and money, the process is labor-intensive and not very much fun.

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