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
 Apri Haryono Hafid

1. Introduction to Marketing

2. Week 2

3. Quiz #2

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 CUSTOMER CENTRICITY: The Limits of Product-Centric Thinking & The Opportunities
and Challenges of Customer Centricity
o

Video: VideoFrom Product-Centric to Customer-Centric Management

. Duration: 15 minutes15 min

Video: VideoCracks in the Product-Centric Approach

. Duration: 9 minutes9 min

Video: VideoData-Driven Business Models

. Duration: 4 minutes4 min

o

Video: VideoThree Cheers for Direct Marketing

. Duration: 3 minutes3 min

Video: VideoWhich Firms Are Customer Centric?

. Duration: 12 minutes12 min

Video: VideoWhat is Customer Centricity?

. Duration: 11 minutes11 min

Video: VideoLiving in a Customer-Centric World

. Duration: 14 minutes14 min

Video: VideoMore Reflections on Customer Centricity

. Duration: 3 minutes3 min

Video: VideoQuestions on Customer Centricity

. Duration: 6 minutes6 min

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Quiz: Quiz #2

10 questions

Quiz #2
Quiz30 minutes • 30 min
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Due July 16, 11:59 PM PDTJul 16, 11:59 PM PDT
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1.
Question 1
Because of technology-enabled product development, product life cycles are much shorter now, and companies
are constantly reiterating and thinking of new ideas. Which “crack in product centricity” captures this?
1 / 1 point
Globalization

Commoditization

Saturation

Innovation
Correct

2.
Question 2
Which of the following is NOT a crack in the product-centric approach?
1 / 1 point

Retail saturation

Smart customers

Customer attrition

Globalization

Deregulation
Correct

3.
Question 3
Which of the following is not true about direct marketing?
0 / 1 point

It allows companies to know who their customers are and what they buy

The individual customer is the unit of analysis

It determines and leverages combined customer value

It aims to determine marketing communication based on past purchases

Incorrect

4.
Question 4
Which of these retailers would Professor Fader describe as highly customer centric?
1 / 1 point

All of them
Nordstrom

Apple

Walmart

Starbucks

None of them
Correct

5.
Question 5
What is the correct definition of customer centricity?
1 / 1 point

Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around
the current and future needs of a select set of customers in order to maximize their long-term financial value to
the firm.

Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around
the future needs of a select set of customers in order to maximize their long-term financial value to the firm.

Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around
the current needs of a select set of customers in order to maximize their long-term financial value to the firm.

Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around
the future needs of a select set of customers in order to maximize their short-term financial value to the firm.
Correct

6.
Question 6
Professor Fader discussed “salesperson of the month.” What would he say is the best way to pick a salesperson
of the month?
1 / 1 point

The change in total customer lifetime value for that month.

The number of quality referrals they generate.

The number of repeat purchases made by existing customers.

The number of new customers brought in.

Correct

7.
Question 7
Is maximizing shareholder value the overarching objective for a customer-centric commercial enterprise or a
product-centric commercial enterprise?
0 / 1 point

Customer-centric

Product-centric

Neither

Both
Incorrect

8.
Question 8
According to Professor Fader, success in a customer-centric world arises through enhanced and/or more
efficient levels of the following EXCEPT:
1 / 1 point

Customer retention

Customer development

Customer acquisition

Customer experience
Correct

9.
Question 9
True or False. Customer centricity suggests that you should “fire” (i.e. get rid of) your least valuable
customers.
0 / 1 point

False

True
Incorrect

10.
Question 10
In a product-centric company, sales bias is on the side of the ____________ in a transaction.
1 / 1 point

Market

Seller
Buyer

Broker
Correct