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WorksheetsOverview of Marketing (Part 2)
Total questions: 25
Worksheet time: 6mins
1. In designing a customer-driven marketing strategy, selecting customers to serve means asking:
Where will these customers come from?
How much do these customers earn?
How can we best serve these customers?
2. Market segmentation refers to dividing the markets into segments of customers.
True
False
Both are correct
3. What is value proposition?
benefits or values promised to customers to satisfy needs
benefit from a product compared with cost
benefits and costs relative to those of competing offers
4. Marketing management orientations consist of four alternative concepts.
True
False
5. Organization devotes its energy to making continuous product improvements. This describes...
Product concept
Production concept
Marketing concept
Selling concept
6. Societal marketing concept considers:
consumers' wants, consumers' happiness, society's interests
consumers’ wants, company’s profit, society’s interests
7. Customer-perceived value is the difference between total perceived benefits and customer cost
True
False
8. Step 3 in the Marketing Process is:
Designing a Customer-Driven Marketing Strategy
Preparing an Integrated Marketing Plan and Program
Building Profitable Customer Relationships
9. Which of the following is not a social need?
Friendship
Sense of Achievement
Sense of belonging
Love
10. Which of the following is not a physical need?
Food
Love
Clothing
Shelter
11. Which of the following is not an individual need?
Friendship
Sense of achievement
Need to Learn
Self-actualisation
12. Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships?
the first two only
the first three only
the first four only
the last three only
the last four only
13. According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy.
determine how to deliver superior value
build profitable relationships with customers
use customer relationship management to create full partnerships with key customers
understand the marketplace and customer needs and wants
construct key components of a marketing program
14. Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
production concept
product concept
selling concept
social marketing concept
15. The product concept says that a company should do which of the following?
improve marketing of its best products
market only those products with high customer appeal
focus on the target market and make products that meet those customers' demands
focus on making continuous product improvements
make promoting products the top priority
16. Which marketing management orientation holds that achieving organisational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
product
production
selling
marketing
equity
17. Though often criticised, the selling concept is particularly appropriate and effective with which of the following types of products?
convenience products
shopping
specialty
unsought products
demarketed products
18. The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
promotion mix
product mix
marketing mix
marketing effort
19. Of the following, which is the most important concept of modern marketing?
customer relationship management
societal marketing
consumer-generated marketing
properly trained salespeople
low prices
20. Which of the following is the total combined customer lifetime values of all a company's current and potential customers?
share of customer
customer lifetime value
customer equity
profitability
21. You have just taken a new position in an organisation and you're learning about the job functions of your new colleagues. You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships.
Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction. Your manager is concerned with which one of the following?
database management
Web site hits
the societal marketing concept
partner relationship management
customer relationship management
22. Market segmentation is the process of seeking fewer customers and reduced demand for profit maximisation only.
True
False
23. The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.
True
False
24. Selecting which segments of a population of customers to serve is called target marketing.
True
False
25. The marketing concept seeks to establish a balance between consumer short-run wants and consumer long-run welfare.
True
False
