5 Questions
What is the two-fold goal of marketing?
The two-fold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.
What is the definition of marketing?
Marketing is defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
What are the five steps of the marketing process?
The five-step marketing process includes understanding the marketplace and customer needs and wants, designing a customer-driven marketing strategy, constructing an integrated marketing program that delivers superior value, building profitable relationships and creating customer delight, and capturing value from customers to create profits and customer equity.
What is the role of marketing in nonprofit organizations?
Nonprofit organizations, such as colleges, hospitals, and churches, also must perform marketing functions to attract new supporters, maintain donor relationships, and promote their causes.
How do today's marketers aim to connect with customers?
Today's marketers aim to become a part of customers' lives and enrich their experiences with their brands, helping customers live their brands by reaching them directly and personally through various channels like websites, smartphone apps, online social networks, and blogs.
This quiz provides a simple definition of marketing as the management of profitable customer relationships. It emphasizes that marketing is essential for all types of organizations, not just for-profit companies, and is pervasive in our daily lives through various advertisements and products.
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