Chapter 1 What is Marketing Test

Which of the following best defines needs, wants and demands?

• Needs are states of felt deprivation, wants are needs shaped by culture and personality and demands are wants backed buying power.

• Needs are what the market offers, wants are customer desires, and demands are sales strategies.

• Needs are customer requests, wants are marketplace offerings, and demands are social expressions.

• Needs are products, wants are services, and demands are solutions and experiences.

Focusing more on specific products than on the benefits and experiences they provide is called

• marketing myopia

• marketing strategy

• marketing myth

What do market offerings include?

• Only physical products that can be purchased in a store.

• Products, services, solutions, and experiences designed to satisfy needs or wants.

• Only digital products and online services.

• Strategies for making a sale and advertising.

Brand _________ is when a brand moves or stretches into a different marketing space.

Customer Relationship Management (CRM) is primarily concerned with acquiring new customers and does not focus on engaging and growing existing customer's expectations. 

• True

• False

Customer ____________ is based solely on the quality of the product, not on how well the product meets or exceeds the customer's expectations. 

Companies use digital technologies, including social media and mobile apps, to foster direct and continuous customer involvement in shaping brand conversions, experiences and community.  

• True

• False

Collaborations of two non-related brands is also called.

• Co-Branding

• Brand Extension

• Marketing

The image is an example of which of the following branding strategies.

• Co-Branding

• Mixed Branding

• Brand Extension

• Rebranding

My favorite class this year is

• Business Marketing

• Business Marketing

• Business Marketing

• Business Marketing