Marketing Quiz

What is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return?

• Marketing

• Relationships

• Market offerings

• Exchange

What is the act of obtaining a desired object from someone by offering something in return?

• De-marketing

• Target marketing

• Market segmentation

• Exchange

What is the set of actual and potential buyers of a product?

• Markets

• Market segmentation

• Marketing system

• Marketing management

What is the art and science of choosing target markets and building profitable relationships with them?

• De-marketing

• Marketing management

• Target marketing

• Market segmentation

What is the idea that consumers will favor products that offer the most quality, performance, and features?

• Marketing concept

• Product concept

• Production concept

• Selling concept

What is the difference between total customer value and total customer cost?

• Customer perceived value

• Customer satisfaction

• Customer lifetime value

• Share of customer

What refers to working closely with partners in other company departments and outside the company to jointly bring greater value to customers?

• Social marketing campaigns

• Customer relationship management

• Partner relationship management

• Customer equity

What is a channel that stretches from raw materials to final buyers?

• Customer lifetime value

• Customer equity

• Share of customer

• Supply chain

What is the portion of the customer's purchasing that a company gets in its product categories?

• Customer satisfaction

• Customer perceived value

• Share of customer

• Customer equity

What involves treating customers as assets that need to be managed and maximized?

• Building the right relationships with the right customers

• Social marketing campaigns

• Partner relationship management

• Marketing mix