A Comparison of the Marketing Concept and Customer Relationship Management

question 249

Multiple Choice

A comparison of the marketing concept and customer relationship management indicates that customer relationship management

• A) and the marketing concept are in fact identical.
• B) attempts to improve profits by keeping quality high, while the marketing concept attempts to improve profits by a careful design of the promotional mix.
• C) turns the marketing concept upside down. The marketing concept emphasized that marketing was the most important function performed by a firm, but customer relationship management views management to be the most important function.
• D) extends the marketing concept by calling for the firm to learn more about its customers so that it not only satisfies them, but exceeds their expectations over time.

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Definitions:

Convenience Goods

Products that are inexpensive and readily available, making them easy for consumers to buy frequently with minimal effort.

Consumer Staples

Essential products that consumers continue to demand regardless of economic conditions, such as food, beverages, and household goods.

Specialty Goods

High-value products that are unique or considered luxury items, often requiring a specific purchasing effort by consumers.

Cannibalized

When a new product or service significantly reduces the sales, market share, or demand of an existing product within the same company.