Chapter 1 Marketing Quiz

Central to any definition of marketing is _______________.

• demand management

• transactions

• customer relationships

• making a sale

• making a profit

Like Amazon, successful companies recognize a crucial dimension of an outstanding marketing company to be _____.

• a strong customer focus

• a relentless pursuit of customer needs

• customer relationships built by everyone in the organization

• all of the above

• none of the above

According to the five-step model of the marketing process, the first step in marketing is _____.

• capturing value from customers to create profits and customer equity

• constructing an integrated marketing program that delivers superior value

• building profitable relationships and creating customer delight

• understanding the marketplace and customer needs and wants

• designing a customer-driven marketing strategy

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

• Selling

• Advertising

• Barter

• Marketing

Society and culture shape the basic form of human needs called _____.

• needs

• wants

• demands

• value

• an exchange

When backed by buying power, wants become _____.

• social needs

• demands

• physical needs

• self-esteem needs

• exchanges

_____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

• Selling myopia

• Marketing

• Selling

• Marketing myopia

• Share of customer

_____ is the set of actual and potential buyers of a product.

• A market

• An audience

• A group

• A segment

• An exchange

_____ is(are) the set of benefits a company promises to deliver its consumers to satisfy their needs.

• A money-back guarantee

• Low prices

• Good customer service

• A value proposition

• An attribute

Selecting which segments to serve is called ________________________.

• market segmentation

• positioning

• customization

• target marketing