According to the Five-Step Model of the Marketing Process, Which

question 27

Multiple Choice

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

• A) designing a customer-driven marketing strategy
• B) understanding the marketplace and customer needs
• C) constructing an integrated marketing program that delivers superior value
• D) building profitable relationships and creating customer delight
• E) capturing value from customers to create profit and customer equity

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Definitions:

Marginal Benefits

The incremental satisfaction or benefit a consumer derives from consuming an additional unit of a good or service.

Net Benefits

The total benefits of a decision or project after subtracting all the costs associated with it.

Total Cost

The complete cost of producing a good or service, combining both fixed and variable expenses.

Total Benefit

The sum of all the positive effects or satisfaction received by consuming a product or service.