MKTG 2500 Chapter 1 EXAM QUESTIONS AND ANSWERS
marketing
the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
needs
states of felt deprivation
wants
the form human needs take as they are shaped by culture and individual personality
demands
human wants that are backed up by buying power
market offerings
some combination of products services, information or experiences offered to a market
to satisfy a need or want
market myopia
the mistake of paying more attention to the specific products a company offers than to
the benefits and experiences produced by the products
exchange
the act of obtaining a desired object from someone by offering something in return
market
the set of all actual and potential buyers of a product or service
marketing management
marketing
the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
needs
states of felt deprivation
wants
the form human needs take as they are shaped by culture and individual personality
demands
human wants that are backed up by buying power
market offerings
some combination of products services, information or experiences offered to a market
to satisfy a need or want
market myopia
the mistake of paying more attention to the specific products a company offers than to
the benefits and experiences produced by the products
exchange
the act of obtaining a desired object from someone by offering something in return
market
the set of all actual and potential buyers of a product or service
marketing management
