What Is Marketing?

The term that best describes the process of identifying, satisfying, and maintaining customer relationships is:

• advertising

• accounting

• marketing

A process in marketing involving a provider, a customer, a product, and a transaction is known as the:

• advertising process

• value chain

• exchange process

A business has developed a product, but is unsure where to focus its efforts to sell the product. Marketing can help this company by:

• creating a good management team

• identifying product supply shortages

• identifying potential customers

As a marketer you are creating an exchange process for a company. What is your main responsibility?

• the building maintenance

• the accounting process

• the entire environment in which the value exchange takes place

Easy Walk, a pet leash company, doesn’t conduct customer surveys. If it had it would discover that one of its main leash lines frequently snags and breaks, and customers are dissatisfied. The product defect is not addressed and nothing changes for the customer, so the customer leaves. Because the company did not have good marketing, it failed to

• identify customers

• deliver the product to customers

• retain customers

You need a new phone. You liked your old Android phone but aren’t sure you want to stay with the same brand. After visiting a phone carrier store you walk away confused about your options, annoyed at the hour it took to get all your questions answered, and without a new phone. You just experienced an example of:

• a comprehensive and effective marketing strategy to satisfy and retain customers

• an emotional connection to the brand that makes you feel more confident

• a poor marketing strategy process

The paid announcement in various media forms calling public attention to a need, product, service, or company for the purpose of selling something is the description of which marketing tool?

• exchange of value

• branding

• advertising

Jose needs a new mountain bike since his old one was run over by the garbage truck. He has seen the Trek bike company sponsoring races and seen its logos worn by top riders, so he decides to purchase a Trek bike. Jose was influenced by which marketing tool?

• advertising

• sales

• branding

It is summer break and you are at the beach. Walking down the boardwalk, you notice a sign-spinner flashing the way to a local ice cream shop. He is dressed like a homeless person, and this makes you question the quality of the ice cream being sold. You quickly move on down the boardwalk. This is an example of a marketing strategy that:

• does not intrude on daily life

• provides information that customers want

• ignores customer perception

A company’s strategy stems from the ideology that “the customer is king,” and the company tries to understand its customer as much as possible. Which concept is the company using to drive its success?

• production concept

• product concept

• marketing concept