Marketing and Stakeholders Quiz
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Questions and Answers

What is the customer's perspective on value?

  • The value proposition from the seller's perspective
  • The ratio of perceived benefits to perceived costs (correct)
  • The economic value of a single customer
  • The total costs of acquiring a product

    • How do marketing activities contribute to value creation?

  • By reducing customer benefits
  • By decreasing the perceived value proposition
  • By increasing advertising costs
  • Through innovations that enhance customer benefits and reduce costs (correct)

    • What is the primary goal for marketers in terms of a single customer?

  • To decrease the cost of acquisition
  • To retain customers at all costs
  • To decrease perceived customer benefits
  • To increase value through co-creation (correct)

    • What is a distinctive competency that can lead to a competitive advantage?

    <p>Building a strong value chain</p> Signup and view all the answers

    What are everyday people doing in terms of value creation?

    <p>Producing user-generated content</p> Signup and view all the answers

    How is social networking related to value creation?

    <p>It leverages Web 2.0 to generate value</p> Signup and view all the answers

    What is the key difference between needs and wants?

    <p>Needs are the difference between the actual and desired state, while wants are the desire to satisfy a need in a particular way.</p> Signup and view all the answers

    Who are considered stakeholders in marketing?

    <p>Consumers, business buyers, sellers, and investors</p> Signup and view all the answers

    What is a marketplace in marketing?

    <p>Any location or medium used to facilitate an exchange</p> Signup and view all the answers

    Which utility represents the benefit derived from having access to a product at the right time?

    <p>Time utility</p> Signup and view all the answers

    What does value represent for customers in marketing?

    <p>The sum of benefits a consumer receives from using a product</p> Signup and view all the answers

    Which of the following utility refers to the benefit derived from obtaining a product where it is needed?

    <p>Place utility</p> Signup and view all the answers

    What is the key difference between needs and wants in marketing?

    <p>Needs are essential for survival, while wants are not necessary.</p> Signup and view all the answers

    In the context of marketing, which group is considered a stakeholder?

    <p>Both A and B</p> Signup and view all the answers

    How does marketing create value for stakeholders?

    <p>By identifying and satisfying the needs of consumers.</p> Signup and view all the answers

    What is a marketplace in the realm of marketing?

    <p>Any location or medium where an exchange can take place.</p> Signup and view all the answers

    Which utility is NOT typically considered in the marketing mix?

    <p>Production utility</p> Signup and view all the answers

    How do modern marketers implement the marketing concept?

    <p>By identifying and satisfying consumer needs to ensure profitability.</p> Signup and view all the answers

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