A market is a group of individuals and/or organizations that have ...

[tingc95]

A market is a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and ____ to purchase such products.
 A) utility
  B) credit
  C) desire
  D) money
  E) authority

Question 2

Differentiate customer satisfaction from customer loyalty. List and describe the two most common pitfalls marketers fall into when trying to achieve customer satisfaction.

[kristenb95]

Answer to Question 1

E

Answer to Question 2

Customer satisfaction: You know you've satisfied your customers when you deliver perceived value above and beyond their expectations. But achieving customer satisfaction can be tricky. Less savvy marketers frequently fall into one of two traps:


The first trap is overpromising. Even if you deliver more value than anyone else, your customers will be disappointed if your product falls short of overly high expectations. You can use the messages that you send regarding your product to influence expectations-keep those expectations real
The second trap is underpromising. If you do not set expectations high enough, too few customers will be willing to try your product. The result will be a tiny base of highly satisfied customers, which usually is not enough to sustain a business.
Customer loyalty: This is the payoff for delivering value and generating satisfaction. Loyal customers purchase from you again and again-and they sometimes even pay more for your product. They forgive your mistakes. They provide valuable feedback. They may require less service. They refer their friends (and sometimes even strangers). Moreover, studying your loyal customers can give you a competitive edge for acquiring new ones, because people with a similar profile would likely be a great fit for your products.

[tingc95]

Correct answers!

[kristenb95]

Great! Please up vote