MKT410 Exit Quiz - Chapter 01

What is marketing?

• Marketing deal with selling and telling

• Marketing is about selling and advertising

• Marketing deals primarily with TV commercials

• Marketing is a process of creating customer value

In the final step of the five-step marketing model, companies _______________.

• create customer value

• reap the rewards of creating customer value

• build strong customer relationship

• work to understands consumers

The basic concept underlying marketing is that of ___________.

• customer needs

• customer wants

• customer demand

• customer experience

​__________ is the act of obtaining a desired object from someone by offering something in return.

• Need

• Want

• Satisfaction

• Exchange

A​ brand's __________ involves the set of benefits or values it promises to deliver to consumers.

• customer engagement

• marketing management

• value proposition

• market segmentation

The​ __________ concept holds that consumers will favor products that are available and affordable.

• product

• production

• selling

• marketing

Customer relationship building blocks consist of​ __________.

• price and promotion

• product and place

• social and product

• value and satisfaction

Although a​ "customer-centered" firm seeks to deliver high customer satisfaction relative to​ competitors, it​ __________.

• attempts to maximize customer satisfaction

• does not attempt to maximize customer satisfaction

• can increase satisfaction by lowering prices compared to its competitors

• attempts to gain customer satisfaction at all cost to ward off competition

Which is the​ fastest-growing digital marketing​ platform?

• social marketing

• sustainable marketing

• non-profit marketing

• mobile marketing

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

• product mix

• promotion mix

• marketing mix

• market offering