BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Altering the marketing mix of products in order to increase sales to existing customers
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Extending the range of products available for customers to purchase
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Keeping sales volume buoyant with new customers
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Expanding the number of customers and markets for existing products
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Expanding by selling new products to new customers
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Detailed explanation-1: -According to Jenkins, customer loyalty is achieved by which of the following? Altering the marketing mix of products in order to increase sales to existing customers. Extending the range of products available for customers to purchase.
Detailed explanation-2: -1) The correct answer is A. Customer lifecycle is used to describe the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service.
Detailed explanation-3: -The 4P’s make up the typical marketing mix and it includes Product, Place, Price and Promotion.
Detailed explanation-4: -Marketing Mix includes variable Product (Product), Price (Price), Place (Place) and Promotion (Promotion). Consumer satisfaction is the feeling of pleasure or disappointment of a customer that arises after comparing perceptions of the performance of a product and its expectations.
Detailed explanation-5: -The product life cycle contains four distinct stages: introduction, growth, maturity and decline. Each stage is associated with changes in the product’s marketing position. You can use various marketing strategies in each stage to try to prolong the life cycle of your products.