Marketing Concepts Quiz

Marketing is the set of strategies and activities by which companies acquire and engage customers, build strong customer relationships, and create superior customer value in order to capture value from customers in return

First, ______ need to understand the marketplace and customer needs and wants

Next, marketers design a customer value– driven marketing ______ with the goal of getting, engaging, and growing target customers

The third step, marketers construct a marketing ______ that actually delivers superior value

All of these ______ form the basis for the fourth step: engaging customers, building profitable customer relationships, and creating customer delight

In the final step, the ______ reaps the rewards of strong customer relationships by capturing value from customers

Outstanding marketing ______ go to great lengths to learn about and understand their customers’ needs, wants, and demands

This ______ helps them to design want- satisfying market offerings and build value-laden customer relationships by which they can capture customer lifetime value and greater share of customer

The ______ is increased long-term customer equity for the firm

Define marketing and outline the steps in the marketing process

Explain the ______ of understanding the marketplace and customers and identify the five core marketplace concepts

The marketing ______ involves five steps

Customer value–driven marketing strategy focuses on addressing ______ and demands

Value proposition is a set of benefits that companies promise to consumers to satisfy their ______

Market segmentation involves dividing the market into segments of customers and selecting which segments to cultivate through ______ marketing

The production concept holds that management’s task is to improve production efficiency and bring down ______

The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired ______

Customer relationship management is the process of engaging customers and building and maintaining profitable customer relationships by delivering superior customer value and ______

Customer-engagement marketing aims to make a brand a meaningful part of consumers’ conversations and lives through direct and continuous customer involvement in shaping brand conversations, experiences, and ______

The key to building lasting relationships is the creation of ______ customer value and satisfaction

Marketing in an age of disruption calls for new marketing thinking and ______

Online, mobile, and social media marketing offer exciting new opportunities to target customers more selectively and engage them more ______

Advances in digital, social, and mobile media have taken the marketing world by ______

Many marketers are now connected globally with their customers, marketing partners, and ______

Customer value–driven marketing strategy focuses on addressing ______ and demands

Outstanding marketing ______ go to great lengths to learn about and understand their customers’ needs, wants, and demands

The digital age has created exciting new ways to learn about, engage, and relate to individual ______

Market segmentation involves dividing the market into segments of customers and selecting which segments to cultivate through ______ marketing

Marketing is the set of strategies and activities by which companies acquire and engage customers, build strong customer relationships, and create superior customer value in order to capture value from customers in ______

Advances in digital, social, and mobile media have taken the marketing world by ______

The production concept holds that management’s task is to improve production efficiency and bring down ______

In the final step, the ______ reaps the rewards of strong customer relationships by capturing value from customers

The third step, marketers construct a marketing ______ that actually delivers superior value

Many marketers are now connected globally with their customers, marketing partners, and ______

The marketing ______ involves five steps

The aim of customer relationship management and customer engagement is to produce high customer equity, the total combined customer lifetime values of all the company’s ______

Marketing is the set of strategies and activities by which ______ acquire and engage customers, build strong customer relationships, and create superior customer value in order to capture value from customers in return

First, ______ need to understand the marketplace and customer needs and wants

Next, marketers design a customer value– driven marketing ______ with the goal of getting, engaging, and growing target customers

The first four steps create value for customers. First, marketers need to understand the marketplace and customer needs and wants. Next, marketers design a customer value– driven marketing ______ with the goal of getting, engaging, and growing target customers

In the final step, the ______ reaps the rewards of strong customer relationships by capturing value from customers

Outstanding marketing ______ go to great lengths to learn about and understand their customers’ needs, wants, and demands. This understanding helps them to design want- satisfying market offerings and build value-laden customer relationships by which they can capture customer lifetime value and greater share of customer

The marketing ______ involves five steps

Customer relationship management is the process of engaging customers and building and maintaining profitable customer relationships by delivering superior customer value and ______

Marketing in an age of disruption calls for new marketing thinking and ______

The ______ is increased long-term customer equity for the firm

All of these ______ form the basis for the fourth step: engaging customers, building profitable customer relationships, and creating customer delight

Advances in digital, social, and mobile media have taken the marketing world by ______

______ customers, building profitable customer relationships, and creating customer delight