Overview of Marketing (Part 2)

1. In designing a customer-driven marketing strategy, selecting customers to serve means asking:

• Where will these customers come from?

• How much do these customers earn?

• How can we best serve these customers?

2. Market segmentation refers to dividing the markets into segments of customers.

• True

• False

• Both are correct

3.  What is value proposition?

• benefits or values promised to customers to satisfy needs

• benefit from a product compared with cost

• benefits and costs relative to those of competing offers

4.    Marketing management orientations consist of four alternative concepts.

• True

• False

5. Organization devotes its energy to making continuous product improvements. This describes...

• Product concept

• Production concept

• Marketing concept

• Selling concept

6. Societal marketing concept considers:

• consumers' wants, consumers' happiness, society's interests

• consumers’  wants, company’s  profit, society’s interests

7.  Customer-perceived value is the difference between total perceived benefits and customer cost

• True

• False

8. Step 3 in the Marketing Process is:

• Designing a Customer-Driven Marketing Strategy

• Preparing an Integrated Marketing Plan and Program

• Building Profitable Customer Relationships

9. Which of the following is not a social need?

• Friendship

• Sense of Achievement

• Sense of belonging

• Love

10. Which of the following is not a physical need?

• Food

• Love

• Clothing

• Shelter