WorksheetsMKT1014_chapter 1
Total questions: 10
Worksheet time: 5mins
What is marketing?
Engaging customers and managing profitable customer relationship
Understanding the marketplace and customer needs
Fulfilling needs, wants and demands of customers
All of the above
Market Segmentation is
which segment to go after
customer segmentation
dividing the market into segments of customers
all of the above
Marketing management orientations can be divided into
2
3
4
5
Production orientation is
Orientation that focuses on production
Product oriented
Focus is on continuous product improvements
Focus on availability and high affordability
Product orientation is
Consumers will favor products that are available and highly affordable
Consumers favor products that offer the most quality, performance, and features.
Consumers will not buy enough of the firm’s products
Know the needs and wants of the target markets and deliver the desired satisfactions better than competitors.
Which orientation concept considers business, customers and society in the long-run?
Marketing concept
Production concept
Societal concept
Selling concept
When backed by buying power, wants become ________.
social needs
demands
physical needs
self-esteem needs
A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.
market offering
value proposition
brand positioning
market segment
market mix
Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.
research and development
innovation and creativity
manufacturing efficiencies
value creation and exchange
Marketing is managing profitable customer relationships.
TRUE
FALSE
