MARKETING 2500 EXAM 1 WMU (Latest
Update ) Questions & Answers
{Grade A} 100% Correct
marketing concept - correct answer achieving organizational goals depends on
knowing the needs and wants of target markets and delivering desired satisfactions
better than the competition do
societal marketing concept - correct answer a company's marketing decisions should
consider consumers wants, the company's requirements, consumers long run
interests and society's long run interests
marketing process is a five step process in which.. - correct answer the first four
steps, companies work to understand consumers, create customer value, and build
strong customer relationships. in the final step, companies reap the rewards of
creating superior customer value
,the marketing process steps - correct answer understand the marketplace and
customer needs and wants >> design a customer driven marketing strategy >>
construct an integrated marketing program that delivers superior value >> build
profitable relationships and create customer delight >> capture value from customers
to create profits and customer equity
instead of the "make and sell" philosophy... - correct answer the marketing concept is
a customer-centered "sense and respond" philosophy -- not find the right costumers
for the product but find the right products for the customer
marketing challenges - correct answer technological advances, rapid globalization,
and continuing social and economic shifts are causing marketplace changes
,major marketing developments can be grouped under the theme of.. - correct answer
connecting
connecting via technology - correct answer advances in computers,
telecommunications, video-conferencing, etc. are major forces because databases
allow for customization of products, messages and analysis of needs -- the internet
facilitates anytime anywhere connections, facilitates CRM, creates marketspaces
connecting with customers - correct answer selective relationship management is key
because customer profitability analysis separates winners from losers -- growing
"share of customer" -- cross-selling and up-selling are helpful --
direct sales to buyers are growing
, connecting with marketing partners - correct answer partner relationship
management involves: connecting inside the company, connecting with outside
partners (supply chain management, strategic alliances)
connecting with the world - correct answer globalization (competition, new
opportunities) -- greater concern for environmental and social responsibility --
increased marketing by nonprofit and public-sector entities (social marketing
campaigns)
five core customer and market place concepts: - correct answer 1. needs, wants and
demands
2. marketing offerings (products, services, and experiences)
3. value and satisfaction
4. exchanges and relationships
5. markets
Update ) Questions & Answers
{Grade A} 100% Correct
marketing concept - correct answer achieving organizational goals depends on
knowing the needs and wants of target markets and delivering desired satisfactions
better than the competition do
societal marketing concept - correct answer a company's marketing decisions should
consider consumers wants, the company's requirements, consumers long run
interests and society's long run interests
marketing process is a five step process in which.. - correct answer the first four
steps, companies work to understand consumers, create customer value, and build
strong customer relationships. in the final step, companies reap the rewards of
creating superior customer value
,the marketing process steps - correct answer understand the marketplace and
customer needs and wants >> design a customer driven marketing strategy >>
construct an integrated marketing program that delivers superior value >> build
profitable relationships and create customer delight >> capture value from customers
to create profits and customer equity
instead of the "make and sell" philosophy... - correct answer the marketing concept is
a customer-centered "sense and respond" philosophy -- not find the right costumers
for the product but find the right products for the customer
marketing challenges - correct answer technological advances, rapid globalization,
and continuing social and economic shifts are causing marketplace changes
,major marketing developments can be grouped under the theme of.. - correct answer
connecting
connecting via technology - correct answer advances in computers,
telecommunications, video-conferencing, etc. are major forces because databases
allow for customization of products, messages and analysis of needs -- the internet
facilitates anytime anywhere connections, facilitates CRM, creates marketspaces
connecting with customers - correct answer selective relationship management is key
because customer profitability analysis separates winners from losers -- growing
"share of customer" -- cross-selling and up-selling are helpful --
direct sales to buyers are growing
, connecting with marketing partners - correct answer partner relationship
management involves: connecting inside the company, connecting with outside
partners (supply chain management, strategic alliances)
connecting with the world - correct answer globalization (competition, new
opportunities) -- greater concern for environmental and social responsibility --
increased marketing by nonprofit and public-sector entities (social marketing
campaigns)
five core customer and market place concepts: - correct answer 1. needs, wants and
demands
2. marketing offerings (products, services, and experiences)
3. value and satisfaction
4. exchanges and relationships
5. markets
