Chapter 18: Part 2 Flashcards Preview

MKT 424: Exam #3 > Chapter 18: Part 2 > Flashcards

Flashcards in Chapter 18: Part 2 Deck (9)
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1

Committed customer

emotional attachment to brand or firm, consumer loyal to a brand

2

Brand loyalty can arise through a # of processes, including:

- Brand identification
- Brand comfort
- Brand delight

3

More difficult to develop

brand-loyal consumers in some categories than for others

4

Churn

turnover in a firm’s customer base

5

Important step in developing marketing strategy is to specify objectives being pursued, possibilities include:

1. Attract new users to the product category
2. Capture competitors’ current customers
3. Encourage customers to use more
4. Encourage current customers to become repeat purchasers
5. Encourage current customers to become committed customers

6

Relationship marketing

attempt to develop an ongoing, expanding exchange relationship

7

Relationship marketing has five key elements:

1. Developing a core service or product around which to build a customer relationship
2. Customizing the relationship to the individual customer
3. Augmenting the core service or product with extra benefits
4. Pricing in a manner to encourage loyalty
5. Marketing to employees so that they will perform well for customers

8

Customer loyalty programs

lots of effort, helps consumers become loyal and rewards them for it

9

Important to distinguish between programs that

generate repeat customers and those that generate committed and loyal customers