Marketing Fundamentals Quiz
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Questions and Answers

What is the term used to describe wants that are backed with buying power?

  • Demands (correct)
  • Necessities
  • Desires
  • Requirements

In 5C's analysis, which of the following is NOT one of the 'C's?

  • Collaborators
  • Company
  • Cost (correct)
  • Context

What does 'Segmentation' involve in the process of understanding the customers?

  • Selecting the segment to enter
  • Total market analysis
  • Market differentiation
  • Target market identification (correct)

Which type of organization is involved in buying goods and services for further processing?

<p>Reseller (B)</p> Signup and view all the answers

What is the term used to describe individuals who purchase goods and services?

<p>Consumer (C)</p> Signup and view all the answers

What does 'Segmentation' involve in the process of understanding the customers?

<p>Dividing the total market into smaller segments (D)</p> Signup and view all the answers

What is the term used to describe wants that are backed with buying power?

<p>Demands (D)</p> Signup and view all the answers

What is the term used to describe the reason of existence of an organization?

<p>Mission (A)</p> Signup and view all the answers

What does 'Differentiation' involve in creating value for the customer?

<p>Differentiating the market for creating value (A)</p> Signup and view all the answers

What does 'Positioning' involve in the process of creating value for the customer?

<p>Positioning the market offering in the minds of the target (B)</p> Signup and view all the answers

What is the term used to describe the organizations that buy goods and services for further processing?

<p>Business (B)</p> Signup and view all the answers

What does 'Targeting' involve in the process of understanding the customers?

<p>Selecting the segment to enter (B)</p> Signup and view all the answers

What does 'Values' represent in the context of an organization?

<p>Organizational beliefs and expected behaviors (C)</p> Signup and view all the answers

What is the term used to describe the aspirations of what an organization hopes to achieve or become?

<p>Vision (B)</p> Signup and view all the answers

What does 'Wants' represent in the context of understanding the customers?

<p>How they are shaped by culture and personality (D)</p> Signup and view all the answers

What does 'Reseller' represent in the context of understanding the customers?

<p>Buys goods and services to resell (B)</p> Signup and view all the answers

Which concept states that consumers will buy products with quality, performance, and innovation?

<p>Selling concept (D)</p> Signup and view all the answers

What is the evaluation of customers about the difference between benefits and costs of competitors called?

<p>Customer perceived value (D)</p> Signup and view all the answers

What does customer engagement marketing aim to achieve?

<p>Making the brand part of the consumers by involving them in communities, conversations, and experiences (A)</p> Signup and view all the answers

What is the ideal way of engaging customers anytime, according to the text?

<p>Mobile marketing (A)</p> Signup and view all the answers

What is the portion of the customer´s purchasing that a brand gets in its product categories called?

<p>Share of customer (B)</p> Signup and view all the answers

What is the term used to describe consumer-driven brand exchanges shaping personal and collective experiences?

<p>Consumer-generated marketing (D)</p> Signup and view all the answers

What is the process of building and maintaining relationships by delivering superior customer value and satisfaction called?

<p>Customer relationship management (C)</p> Signup and view all the answers

What type of customers are characterized by high profitability and high loyalty?

<p>Real Friends (D)</p> Signup and view all the answers

What does the marketing concept state?

<p>Goals depend on the needs of consumers and are better than competitors (D)</p> Signup and view all the answers

What does the term 'market offerings' refer to?

<p>Combination of things offered to a market to satisfy a need or like (A)</p> Signup and view all the answers

What is the term used to describe actions by which satisfied consumers initiate favorable interactions with others about the brand?

<p>Customer brand advocacy (B)</p> Signup and view all the answers

What does the societal marketing concept consider?

<p>Wants and consumers/society's long-term interests (D)</p> Signup and view all the answers

What are the four key elements of the marketing mix?

<p>Product, price, place, promotion (B)</p> Signup and view all the answers

What is the term used to describe the total combined customer lifetime value of all current and potential customers?

<p>Customer equity (C)</p> Signup and view all the answers

Which type of customer is characterized by low profitability and low loyalty?

<p>Strangers (C)</p> Signup and view all the answers

What concept emphasizes that consumers will buy products with quality, performance, and innovation?

<p>Product concept (C)</p> Signup and view all the answers

What does customer engagement marketing aim to achieve?

<p>Making the brand part of the consumers by involving them in communities, conversations, and experiences (D)</p> Signup and view all the answers

What does the societal marketing concept consider?

<p>Wants and consumers/society's long-term interests (A)</p> Signup and view all the answers

What is the fastest-growing digital platform for engaging customers anytime?

<p>Mobile marketing (A)</p> Signup and view all the answers

What does big data marketing aim to achieve?

<p>Gain deep customer insights and personalize customer engagements (C)</p> Signup and view all the answers

What is the process of building and maintaining relationships by delivering superior customer value and satisfaction called?

<p>Customer relationship management (D)</p> Signup and view all the answers

What is the term used to describe consumer-driven brand exchanges shaping personal and collective experiences?

<p>Consumer-generated marketing (C)</p> Signup and view all the answers

What does the marketing mix consist of?

<p>Product, price, place, promotion (C)</p> Signup and view all the answers

What is the term used to describe the evaluation of customers about the difference between benefits and costs of competitors?

<p>Customer perceived value (C)</p> Signup and view all the answers

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