MKT1001- Topic 1.1 and 1.2

MKT1001- Topic 1.1 and 1.2

University

20 Qs

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MKT1001- Topic 1.1 and 1.2

MKT1001- Topic 1.1 and 1.2

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT an accurate description of modern marketing?

Marketing is the creation of value for customers.

Marketing involves managing profitable customer relationships.

Marketing emphasizes selling and advertising exclusively.

Marketing involves satisfying customers' needs.

Marketing is building value-laden exchange relationships with customers.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Marketing is defined as a social and managerial process by which individuals and

organizations obtain what they need and want through ________.

research and development

innovation and creativity

manufacturing efficiencies

value creation and exchange

sales and revenue creation

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

According to the five-step model of the marketing process, which of the following is the final

step in creating value for customers?

designing a customer-driven marketing strategy

understanding the marketplace and customer needs

constructing an integrated marketing program that delivers superior value

building profitable relationships and creating customer delight

capturing value from customers to create profit and customer equity

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

According to the five-step model of the marketing process, a company should ________

before designing a customer-driven marketing strategy.

determine how to deliver superior value to customers

build profitable relationships with customers

use customer relationship management to create full partnerships with key customers

understand the marketplace and customer needs and wants

construct an integrated marketing program

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Marketing is managing profitable customer relationships.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

________ are human needs that are shaped by culture and individual personality.

Necessities

Wants

Demands

Values

Exchanges

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When backed by buying power, wants become ________.

social needs

demands

physical needs

self-esteem needs

exchanges

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