Marino Autos Inc

question 69

Multiple Choice

Marino Autos Inc.measures and evaluates the quality of its cars and services against the market leaders in the automobile industry.Wherever there is a gap,Marino Autos Inc.tries to cover that gap by imitating the best practices of these market leaders.This is known as _____.

• A)crowdsourcing
• B)benchmarking
• C)sampling
• D)nearshoring
• E)licensing

Recognize the significance of grading and labeling in marketing.

Understand the concept of exchange in the context of marketing.

Acknowledge the essential conditions for an exchange to take place in marketing.

Grasp the importance of customer relationship management and market orientation for sustained business success.

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Definitions:

Relational Sources

Information about a product or service that comes from personal relationships, such as friends or family.

Personal Sources

Individuals or personal contacts from whom one can obtain information, recommendations, or advice, especially relevant in purchase decisions or when seeking trustworthy data.

Consumer Value Perceptions

How consumers view the worth of a product or service in relation to its price, quality, and utility.

Alternative Evaluation

The stage in the consumer decision-making process where different product and service options are assessed against a set of criteria.