Mkt chap 1

Mkt chap 1

University

15 Qs

quiz-placeholder

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Mkt chap 1

Mkt chap 1

Assessment

Quiz

Architecture

University

Medium

Created by

Sinh Hoàng

Used 54+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

All of the following are accurate descriptions of modern marketing, EXCEPT which one?

Marketing is the creation of value for customers

Marketing is managing profitable customer relationships

Selling and advertising are synonymous with marketing.

Marketing involves satisfying customers' needs.

Marketing is used by for-profit and not-for-profit organizations.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange.

Selling

Advertising

Bartering

Marketing

Negotiating

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships?

the first two only

the first three only

the first four only

the last three only

the last four only

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy.

determine how to deliver superior value

build profitable relationships with customers

use customer relationship management to create full partnerships with key customers

understand the marketplace and customer needs and wants

construct key components of a marketing program

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

......are human needs as shaped by individual personality and culture.

Needs

Wants

Demands

Values

Exchanges

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When backed by buying power, wants become ________.

social needs

demands

physical needs

self-esteem needs

exchanges

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do companies call a set of benefits that they promise to consumers to satisfy their needs?

market offering

value proposition

demand satisfaction

need proposition

evoked set

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