Marketing chapter 2: Developing Marketing Strategies and Pla

1. The task of any business is to deliver ________ at a profit.

• customer needs

• products

• customer value

• products and services

2. In a hypercompetitive economy such as ours, a company can win only by fine-tuning the value delivery process and choosing, providing, and ________ superior value.

• communicating

• selecting target markets with

• composing

• developing

3. The traditional view of marketing is that the firm makes something and then ________ it.

• . markets

• sells

• distributes

• . prices

4. Today, the “mass market” is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria.

• micromarkets

• market targets

• macromarkets

• customer cliques

5. The first phase of the value creation and delivery sequence is ________ that represents the “homework” marketing must do before any product exists.

• choosing the value

• market research

• target marketing

• service consideration

6. The last step in the value creation and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.

• developing

• distributing

• communicating

• reversing

7. The ________ is a tool for identifying ways to create more customer value.

• value chain

• customer survey

• brand loyalty index

• promotion channel

8. The ________ identifies nine strategically relevant activities that create value and cost in a specific business.

• value proposition

• value chain

• mission statement

• annual report

9. The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

• operations processes

• manufacturing processes

• primary activities

• secondary activities

9. Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called ________.

• materials handling

• support activities

• inventory activities

• primary activities