Question 1. Managers who believe the customer is the company’s only true “profit center” consid

1. Managers who believe the customer is the company’s only true “profit center” consider the traditional organization chart to be obsolete.

2. The modern customer-oriented organization chart places top management at the top of the pyramid as long as they can think like consumers.

3. There are two determinates of customer-perceived value: total customer benefit and total customer cost.

4. Customer-perceived value is the perceived monetary value of all the purchases a customer makes on an annual basis.

5. Consumers tend to be value maximizes—they estimate which offer will deliver the most perceived value and act on it.

6. At the heart of a good value delivery system is a set of core business processes that help to deliver distinctive customer value.

7. Professional buyers and purchasing agents operate under various constraints and occasionally make choices that give more weight to their personal benefit than to the company’s benefit.

8. The value proposition is stated in the price of a product and readily recognized by the average consumer.

9. The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering.

10. P
For a consumer to be delighted with a product or service he or she must perceive that performance exceeds expectations.

11. The ultimate goal of the customer-centered firm is to create high customer satisfaction.

12. One key to customer retention is customer satisfaction.

13. Consumers’ expectations result exclusively from past buying experiences.

14. A highly satisfied customer generally stays loyal longer, pays less attention to competing brands, and is less sensitive to price.

15. Price perception is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

16. Conformance quality and performance quality is essentially the same thing in a marketing sense.

17. Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality.

18. Marketers have found that pricing plays the most essential role in defining and delivering hi

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