What is the twofold goal of marketing?
Explanation
The chapter establishes the core purpose of marketing early on with this twofold goal, emphasizing both customer acquisition and customer retention through the delivery of value.
Other questions
What is the primary definition of marketing presented in the chapter?
According to the five-step model of the marketing process, what is the first step a company must take?
How does the chapter distinguish between 'wants' and 'demands'?
What is the term for the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products?
Which marketing management orientation holds that consumers will favor products that are available and highly affordable, leading management to focus on production and distribution efficiency?
What is the key difference between the selling concept and the marketing concept?
The societal marketing concept suggests that marketing strategy should balance three main considerations. What are they?
What is defined as the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?
What is customer-engagement marketing?
What did the text cite as the estimated customer lifetime value for a single satisfied and loyal Starbucks customer?
In the customer relationship groups matrix, which category represents customers who are highly loyal but not very profitable?
What percentage of the world's population was estimated to be online, according to the chapter's discussion of the Digital Age?
Which of the following is NOT listed as one of the five major developments changing the marketing landscape?
The chapter discusses the marketing of Emirates airline, noting its success is due to a customer-focused strategy. What campaign did Emirates launch in 2012 to position itself as an enabler of global connectivity and meaningful experiences?
What does the concept of 'shared value' recognize, as preached by many leading business and marketing thinkers?
What is the estimated global share of the carbonated beverage market held by Coca-Cola, as mentioned in the chapter?
The chapter mentions a campaign to eliminate texting while driving. What statistic does this campaign point out about the increased likelihood of a crash for a texting driver?
In the discussion of capturing value from customers, the chapter gives an example of Stew Leonard's supermarket. What did Stew Leonard estimate was the lifetime value of a single customer?
What is the primary objective of partner relationship management?
What is defined as the portion of the customer’s purchasing that a company gets in its product categories?
In the 1970s and 1980s, Cadillac's share of the luxury car market reached a peak of what percentage?
What is the main point of the 'Pulling It All Together' section at the end of the chapter?
As part of its 'Hello Tomorrow' campaign, Emirates collaborated with the BBC to develop a new series that followed 14 leading personalities collaborating in fields like music, food, and fashion. What was this series called?
Which marketing orientation is exemplified by the statement, 'We don’t have a marketing department; we have a customer department'?
What is the core idea behind 'caring capitalism,' as practiced by companies like Patagonia and Ben & Jerry's?
What is the primary tool used to classify a company's strategic business units (SBUs) in the Boston Consulting Group (BCG) approach?
In the discussion of the digital marketing landscape, the chapter mentions the Internet of Things (IoT). What is the IoT?
According to a study cited in the chapter, how much more do Amazon Prime customers spend on average compared to non-Prime customers?
Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?