Introduction to Marketing (Chapter 1)

 

What is the idea of a marketing concept?

• Knowing the needs and wants of shareholders and reaching the main sales targets.

• Knowing the needs and wants of the government and compliance with the regulation.

• Knowing the needs and wants of target markets and delivering the desired satisfactions more effectively than competitors.

After understanding the marketplace and customer needs, what is the next step in the marketing process?

• Designing a marketing strategy.

• Building profitable customer relationships.

• Capturing value from customers.

• Delighting customers.

To capture value from consumers, marketers must ...

• create value for consumers.

• create award-winning products.

• focus on selling the product.

• advertise extensively.

... is the first step of the marketing process.

• Developing a marketing strategy

• Building strong relationships with customers

• Delivering superior value

• Understanding the marketplace, consumer needs, and consumer wants

The key element of successful marketing today is to ...

• create value.

• develop innovative products.

• advertise.

• offer low prices.

Mary is hungry and chooses to go to McDonalds for a salad. Mary’s hunger is a ... and her choice of a salad is a ...

• want; demand.

• need; demand.

• want; need.

• need; want.

Which of the following statements about market offerings is correct?

• Market offerings are a combination of products, services, information, or experiences.

• Market offerings are limited to products.

• Market offerings are limited to services.

• Experiences are not a market offering.

Which core marketing concept is the key building block to develop and manage customer relationships?

• Profits.

• Value and satisfaction.

• Needs, wants, and demands.

• Market offerings.

The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities?

• Targeting and positioning.

• Segmenting and targeting.

• Segmenting and demand management.

• Segmenting and customer management.

Following the marketing concept means that firms are ...

• customer-driven.

• sales-driven.

• production-driven.

• product-driven.