Principles of Marketing Quiz

Marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

• True

• False

Which is not one of the primary activities in the process of marketing?

• Creating value for customers
• Building strong customer relationships
• Capturing value from customers in return
• Ignoring competitors' actions

Consumer buyer behavior is the buying behavior of final consumers-individuals and households that buy goods and services for personal consumption.

• True

• False

Marketing Strategy is the process of developing and maintaining a strategic fit between the organization's goals and capabilities, and its changing marketing opportunities.

• True

• False

Customer insights are fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships.

• True

• False

Value delivery network is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system.

• True

• False

Market segmentation is the art and science of choosing target markets and building profitable relationships with them.

• True

• False

Generational marketing is important in segmenting people by lifestyle or life stage instead of age.

• True

• False

Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

• True

• False

Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers.

• True

• False