Principles of Marketing - Quiz
1 with 100% correct
answers(download to pass)
marketing - answer the process by which companies create value for
customers and build strong customer relationships in order to
capture value from customers in return
needs - answer states of felt deprivation, including basic physical,
social, and individual; part of human makeup
wants - answer the form human needs take as they are shaped by
culture and individual personality
demands - answer human wants backed by buying power
market offerings - answer some combination of products, services,
information, or experiences offered to a market to satisfy a need or
want
marketing myopia - answer the mistake of paying more attention to
the specific products a company offers than to the benefits and
experiences produced by these products
exchange - answer the act of obtaining a desired object from
someone by offering something in return
market - answer the set of all actual and potential buyers of a
product or service
,marketing management - answer the art and science of choosing
target markets and building profitable relationships with them
production concept - answer the idea that consumers will favor
products that are available and highly affordable and that the
organization should therefore focus on improving production and
distribution efficiency
product concept - answer the idea that consumers will favor
products that offer the most quality, performance, and features and
that the organization should therefore devote its energy to making
continuous product improvements
selling concept - answer the idea that consumers will not buy
enough of the firm's products unless it undertakes a large-scale
selling and promotion effort
marketing concept - answer a philosophy that holds that achieving
organizational goals depends on knowing the needs and wants of
target markets and delivering the desired satisfactions better than
competitors do
societal marketing concept - answer the idea that a company's
marketing decisions should consider consumers' wants, the
company's requirements, consumers' long-run interests, and
society's long-run interests
customer relationship management - answer managing detailed
information about individual customers and carefully managing
customer touch points to maximize customer loyalty
customer-perceived value - answer the customer's evaluation of the
difference between all the benefits and all the costs of a marketing
offer relative to those of competing offers
, customer satisfaction - answer the extent to which a product's
perceived performance matches a buyer's expectations
customer-managed relationships - answer marketing relationships
in which customers, empowered by today's new digital technologies,
interact with companies and with each other to shape their
relationships with brands
consumer-generated marketing - answer brand exchanges created
by consumers themselves - both invited and uninvited - by which
consumers are playing an increasing role in shaping their own brand
experiences and those of other consumers
partner relationship management - answer working closely with
partners in other company departments and outside the company to
jointly bring greater value to customers
customer lifetime value - answer the value of the entire stream of
purchases that the customer would make over a lifetime of
patronage
share of customer - answer the portion of the customer's purchasing
that a company gets in its product categories
customer equity - answer the total combined customer lifetime
values of all the company's customers
strategic planning - answer the process of developing and
maintaining a strategic fit between the organization's goals and
capabilities and its changing marketing opportunities
1 with 100% correct
answers(download to pass)
marketing - answer the process by which companies create value for
customers and build strong customer relationships in order to
capture value from customers in return
needs - answer states of felt deprivation, including basic physical,
social, and individual; part of human makeup
wants - answer the form human needs take as they are shaped by
culture and individual personality
demands - answer human wants backed by buying power
market offerings - answer some combination of products, services,
information, or experiences offered to a market to satisfy a need or
want
marketing myopia - answer the mistake of paying more attention to
the specific products a company offers than to the benefits and
experiences produced by these products
exchange - answer the act of obtaining a desired object from
someone by offering something in return
market - answer the set of all actual and potential buyers of a
product or service
,marketing management - answer the art and science of choosing
target markets and building profitable relationships with them
production concept - answer the idea that consumers will favor
products that are available and highly affordable and that the
organization should therefore focus on improving production and
distribution efficiency
product concept - answer the idea that consumers will favor
products that offer the most quality, performance, and features and
that the organization should therefore devote its energy to making
continuous product improvements
selling concept - answer the idea that consumers will not buy
enough of the firm's products unless it undertakes a large-scale
selling and promotion effort
marketing concept - answer a philosophy that holds that achieving
organizational goals depends on knowing the needs and wants of
target markets and delivering the desired satisfactions better than
competitors do
societal marketing concept - answer the idea that a company's
marketing decisions should consider consumers' wants, the
company's requirements, consumers' long-run interests, and
society's long-run interests
customer relationship management - answer managing detailed
information about individual customers and carefully managing
customer touch points to maximize customer loyalty
customer-perceived value - answer the customer's evaluation of the
difference between all the benefits and all the costs of a marketing
offer relative to those of competing offers
, customer satisfaction - answer the extent to which a product's
perceived performance matches a buyer's expectations
customer-managed relationships - answer marketing relationships
in which customers, empowered by today's new digital technologies,
interact with companies and with each other to shape their
relationships with brands
consumer-generated marketing - answer brand exchanges created
by consumers themselves - both invited and uninvited - by which
consumers are playing an increasing role in shaping their own brand
experiences and those of other consumers
partner relationship management - answer working closely with
partners in other company departments and outside the company to
jointly bring greater value to customers
customer lifetime value - answer the value of the entire stream of
purchases that the customer would make over a lifetime of
patronage
share of customer - answer the portion of the customer's purchasing
that a company gets in its product categories
customer equity - answer the total combined customer lifetime
values of all the company's customers
strategic planning - answer the process of developing and
maintaining a strategic fit between the organization's goals and
capabilities and its changing marketing opportunities
