Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
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Chapter 3: Customer Relationships: Basic Building Blocks of IDIC and Trust
- Think about the companies you do business with as a customer. Name an example of a company that identified and recognized you, one that differentiated you by need or value, one that has made interaction easy and fun, and one that has changed something about the way it does business with you now, based on what it knows about you.
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- Talk about the value of customer trust in a company. Cite instances of brands or businesses you trust and those you don't based on the firms you patronize. Describe what makes you feel trustworthy or suspicious. What transpires when customer confidence is eroded, and how can a business effectively recover from that loss?arrow_forwardYou are a new member of the marketing organization for a 10-year-old, rapidly growingretailer with $2.7 billion in annual sales and 85 stores located in half a dozen southern states.You were hired away from Macy’s with a nice salary increase and were promised an oppor-tunity to influence the e-commerce plans of your new employer. The retailer has been a some-what reluctant participant in B2C e-commerce with its own Web site since 2006.“Everybodyelse is doing it so I guess we should too”has been the firm’s attitude. Results have been dis-appointing, with the little additional sales generated barely offsetting the cost to outsource theWeb hosting of the site. The Web site is currently viewed as another link in the company’smultichannel marketing approach. You are convinced that e-commerce could play a muchbigger role in your firm’s future and have asked for a few minutes with the VP of Marketing topresent your ideas. What would you say?arrow_forwardWhat is the "free rider" problem and how does it relate to interest group membership? According to sponsorship theory, how might interest groups try to overcome this problem?arrow_forward
- Businesses strive to be the leader in their industry. For this reason, they look for strategies that will boost their sales and keep customers coming back. One strategy is to use information and communication systems to manage data, reduce workload, and assist with task management. As with many things, there are both risks and rewards to using information and communication systems. 1. Conduct an Internet search to identify three common business uses of information and communication systems. 2. For each business use, identify two advantages and two disadvantages of each.arrow_forwardRelationship building is very important to marketers. Explain how these relationships are built and who are the people involved in this process.arrow_forwardWhat other unforeseeable events contributed to making Xerox's executives unwilling to take any new risks precisely at the time Alto was ready to be released?arrow_forward
- Match each business model type with the correct description. Remember to select a different business model type for each description. Business model type Product business model Multisided business model Solution business model Matchmaking business model Description A company controls a platform where sellers and buyers exchange products or services. A product or service is designed according to specifics defined by each customer. A product or service is offered to customers. A company provides different products and services to different groups of clients who gain some benefit from the existence of the other group of clients.arrow_forwardWhy the marketers at EA put social media in the middle of their marketing efforts versus how other companies tend to integrate it or add it on at the end. What are your thoughts on this structure? Is this being driven by their particular audience, or are they trying to anticipate their audience's needs? This is a rare way of doing integration, do you think it will be more/less effective for the company?arrow_forwardThe Internet, social media, and e-commerce, as well as accompanying computer technologies, will continue to expand in popularity, according to industry experts. What impact will this expansion have on the way businesses connect with their customers in the future?arrow_forward
- Make a thorough (at least a large paragraph) posting in response to ONE of the prompts below. What is a recent customer service experience that highlights excellent customer service and one that highlights poor customer service? In your opinion, were these two companies using the marketing concept? How do you think companies create relationships with their customers?arrow_forwardExplain the importance of customer retention and lifetime value in subscription-based business models. How can companies improve these metrics?arrow_forwardUsing any organization for which you could work for, and examine how the organization approaches the acquisition of customers and the maintenance of customers differently. Given the importance of customer lifetime value on long-term profitability, is your organization investing sufficiently in customer relationship management? Explain.arrow_forward
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