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Worksheets1st Marketing Competition
Total questions: 20
Worksheet time: 10mins
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
engaging customers, building profitable relationships, and creating customer delight
understanding the marketplace and customer needs and wants
________ are human needs that are shaped by culture and individual personality.
Wants
Demands
Values
Exchanges
Consumers' needs and wants are fulfilled through ________.
value
demand
desire
market offerings
Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
value proposition
marketing myopia
market segmentation
market offering
When marketers set low expectations for a market offering, they run the risk of ________.
disappointing loyal customers
having to use an outside-in rather than an inside-out perspective
failing to attract enough customers
failing to understand their customers' needs
________ is the act of obtaining a desired object from someone by offering something in return.
Valuation
Exchange
Market offering
Donation
The difference between human needs and wants is that needs are not created by marketers.
True
False
Market offerings are limited to physical products.
true
false
The art and science of choosing target markets and building profitable relationships with them is called ________.
marketing management
positioning
marketing mix
market offering
differentiation
Selecting which segments of a population to serve is called ________.
market segmentation
positioning
target marketing
differentiation
Dividing the market into various groups of customers that a company may serve is called ________.
market segmentation
positioning
customization
target marketing
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.
dominant effect
fringe benefit
value proposition
market offering
The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.
societal marketing
marketing
selling
production
product
Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?
the marketing concept
the production concept
the product concept
the selling concept
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.
marketing concept
product concept
production concept
societal marketing concept
The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
promotion mix
product mix
marketing mix
market offering
Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?
customer-perceived value
customer equity
customer lifetime value
customer satisfaction
A company can create customer delight by meeting customer expectations through offering good products that do what is promised.
True
False
________ are customers who show low potential profitability and little projected loyalty.
True friends
Barnacles
Strangers
Butterflies
In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.
true friend.
butterfly
stranger
barnacle
