MKT101_Chapter 1

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

• "Telling and Selling"

• Marketing

• Advertising

• Selling

According to the final definition of marketing, companies need to ________ before designing a customer-driven marketing strategy

• understand the marketplace and customers' needs and wants

• determine how to deliver superior value

• build profitable relationships with customers

• construct key components of a marketing program

Which of followings is an example of NEED? (*more than 1 answer can be chosen)

• When I become a teenager, I likes to have a girlfriend

• my friend is interested in a new ZARA blazer but does not have a penny in her wallet

• I am thirsty so I buy a Coke

• The American loves hamburgers while Vietnamese likes Pho

• In New Year's Eve, The Little Match Girl crept along trembling with cold and hunger.

When backed by buying power, wants become ________.

• demands

• needs

• hobbies

• pursues

What is market offering?

• Some combination of products, services, information, or experiences offered to a market to satisfy a need or want

• offers that focusing on products than paying attention to benefits and experiences produced by these products

• The act of obtaining a desired object from someone by offering something in return

• Managing markets to bring about profitable customer relationships

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

• All customers will be delighted.

• Customer-perceived value will increase.

• Customer evangelists will become unpaid salespersons for the service or product.

• Not all customers will be satisfied.

• The company will need to follow up with a demarketing campaign

The art and science of choosing target markets and building profitable relationship with them is called ________.

• marketing management

• value proposition

• segmentation

• demarketing

Spirit Airlines gives you “Bare Fare” pricing: “Less Money. More Go.”. Netflix provides you "Quality Entertainment, 24/7". These are examples of.................

• Market segmentation

• Value proposition

• Advertisement

• Promotion

The concept of societal marketing seeks to strike a balance between consumer short-run desires and consumer ________.

• benefits

• wallets

• long-run welfare

• value proposition

_______ is the process of establishing, maintaining, and expanding profitable relationships by providing customer value and satisfaction.

• customer lifetime value

• customer perceived value

• customer relationship management

• societal marketing