Walt Owns a Local Chain of Auto Repair Shops in Northern

question 12

Multiple Choice

Walt owns a local chain of auto repair shops in Northern Rottawa.He goes the extra mile in pleasing his customers by providing comfortable and attractive waiting rooms, friendly service, and an exceptional warranty on all repair work. Which of the following philosophies has Walt employed to make all his customers highly satisfied?

• A)Socially responsible marketing
• B)Marketing mix
• C)Customer relationship management
• D)Marketing concept

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Definitions:

Prefabricated Garages

Buildings for storing vehicles that are manufactured off-site in advance, usually in standard sections that can be easily shipped and assembled.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different buyers.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the financial gain realized when accounting for opportunity costs.