Question: What is meant by customer do not buy drill bits- They buy ways to make holes. Assuming this is true what are the consumer really

  1. What is meant by "customer do not buy drill bits- They buy ways to make holes." Assuming this is true what are the consumer really purchasing when they buy the following five items? (1) A pair of sneakers (2) Lipstick (3)A life of insurance policy (4)A luxury car (5) A beautiful dress.
  2. Explain how would you apply the concept of providing value, customer satisfaction, and customer retention to designing strategies and marketing it effectively.
  3. Also incorporate in your discussion the interrelationships among customer expectation and satisfaction, perceived value and customer retention
  4. Explain consumer behavior?
  5. What is marketing strategy?

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