Marketing Quiz

What is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return?

• Marketing

• Marketing myopia

• Market offerings

• Exchange

What is the act of obtaining a desired object from someone by offering something in return?

• Relationships

• Exchange

• Target marketing

• Market segmentation

What is the idea that consumers will favor products that offer the most quality, performance, and features?

• The production concept

• The marketing concept

• The product concept

• The selling concept

What is the set of tools (four Ps) the firm uses to implement its marketing strategy?

• Integrated marketing program

• Customer relationship management

• Marketing mix

• Customer perceived value

What is the value of the entire stream of purchases that the customer would make over a lifetime of patronage?

• Share of customer

• Customer equity

• Customer lifetime value

• Building relationships

What is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics?

• Generational marketing

• Economic environment

• Demographic trends

• Demography

What consists of the actors close to the company that affect its ability to serve its customers?

• Microenvironment

• Marketing intermediaries

• Business markets

• Customer markets

What involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities?

• Economic environment

• Cultural environment

• Natural environment

• Political environment

What consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society?

• Economic environment

• Political environment

• Cultural environment

• Natural environment

What occurs when firms actively seek out ways to protect the long-term interests of their consumers and the environment?

• Core beliefs and values

• Socially responsible behavior

• Partner relationship management

• Secondary beliefs and values