Introduction to Marketing T1

Marketing is a process by which companies create value for customers

and build strong customer relationships in order to capture value from customers in return.

• True

• False

Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs.

• True

• False

Marketing management is the art and science of choosing target markets and building profitable relationships with them.

• True

• False

A brand’s Strategy is the set of benefits or values it promises to deliver to customers to satisfy their needs.

• True

• False

The marketing mix is comprised of a set of tools known a

the four Ps:

• Price, Plan, Product, Place

• Product, People, Plan, Process

• Price, Product, Place, Promotion

• Promotion, Plan, Product, Place

The 3 P´s in the extended marketing mix are

• People, Promotion, Process

• Physical Evidence, Process, Product

• People, Physical Evidence, Process

• Purple Cow, People, Product

Moore´s idea diffusion curve is made up of

• Innovators, Early Majority, Adopters, Laggards

• Innovators, Early Majority, Adopters, Laggards

• Innovators, Early & Late Majority, Adopters, Laggards

• Innovators, Early Adopters, Early & Late Majority, Laggards

Customer relationship management—the overall process of building and maintaining good personnel relationships by delivering superior customer value and satisfaction.

• True

• False

Partner relationship management involves working closely with customers in other company departments and outside the company to jointly bring greater value to customers.

• True

• False

In customer relationship groups, butterflies can be defined as

• Profitable and loyal

• Highly loyal but not very profitable

• Potentially profitable but not loyal

• Low profitability and Little loyalty