WorksheetsWeek2 TUT2 Overview of Marketing (Part 1)
Total questions: 14
Worksheet time: 4mins
1. What is the goal of marketing?
to attract new customers
to keep current customers
to grow current customers
all of the above
2. All of the following are accurate descriptions of modern marketing EXCEPT which one?
Marketing involves satisfying customers' needs.
Marketing is the creation of value for customers.
Selling and advertising are synonymous with marketing.
Marketing is managing profitable customer relationships.
3. When backed by buying power, wants become ________.
Social needs
Demand
Command
Physical needs
4. Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
Selling myopia
Selling concept
Marketing management
Marketing myopia
5. You are preparing a combination of products, services, information, and experiences to a market to satisfy needs and wants. What are you preparing?
Demand satisfaction
Value proposition
Tactical plan
Marketing offer
6. ________ are human needs as shaped by individual personality and culture.
Wants
Exchanges
Needs
Values
7. Jamie has always wanted to subscribe to Fox Sports to watch his favourite rugby teams compete. He now has the buying power to purchase the subscription for a year. Jamie's want now has become a(n) ________.
Need
Transaction
Demand
Exchange
8. Customer satisfaction depends on the product's perceived performance relative to a buyer's expectations.
True
False
9. Exchange is the act of obtaining a desired object from someone by offering something in return.
True
False
10. Marketing is more important to large corporations than it is to smaller organisations or to governmental or not-for-profit organisations.
True
False
11. The marketing mix includes the five Ps of product, place, public relations, promotion, and price.
True
True
False
12. The difference between human needs and wants is that needs are not influenced by marketers.
True
False
Structured Question 1a
XYZ radio station offers its listeners the option to control the music they listen to by voting which songs they like to play more or less.
Listeners also receive alerts when their favourite songs are about to play.
When XYZ customers weigh these benefits against its competitor radio stations, they are acting upon ________.
loyalty
relationship marketing
customer-perceived value
social relationships
a societal marketing campaign
Briefly explain the term customer-perceived value.
(a)
