Marketing Fundamentals Quiz

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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?

Reseller Signup and view all the answers

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

Consumer Signup and view all the answers

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

Dividing the total market into smaller segments Signup and view all the answers

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

Demands Signup and view all the answers

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

Mission Signup and view all the answers

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

Differentiating the market for creating value Signup and view all the answers

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

Positioning the market offering in the minds of the target Signup and view all the answers

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

Business Signup and view all the answers

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

Selecting the segment to enter Signup and view all the answers

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

Organizational beliefs and expected behaviors Signup and view all the answers

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

Vision Signup and view all the answers

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

How they are shaped by culture and personality Signup and view all the answers

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

Buys goods and services to resell Signup and view all the answers

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

Selling concept Signup and view all the answers

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

Customer perceived value Signup and view all the answers

What does customer engagement marketing aim to achieve?

Making the brand part of the consumers by involving them in communities, conversations, and experiences Signup and view all the answers

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

Mobile marketing Signup and view all the answers

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

Share of customer Signup and view all the answers

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

Consumer-generated marketing Signup and view all the answers

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

Customer relationship management Signup and view all the answers

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

Real Friends Signup and view all the answers

What does the marketing concept state?

Goals depend on the needs of consumers and are better than competitors Signup and view all the answers

What does the term 'market offerings' refer to?

Combination of things offered to a market to satisfy a need or like 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?

Customer brand advocacy Signup and view all the answers

What does the societal marketing concept consider?

Wants and consumers/society's long-term interests Signup and view all the answers

What are the four key elements of the marketing mix?

Product, price, place, promotion 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?

Customer equity Signup and view all the answers

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

Strangers Signup and view all the answers

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

Product concept Signup and view all the answers

What does customer engagement marketing aim to achieve?

Making the brand part of the consumers by involving them in communities, conversations, and experiences Signup and view all the answers

What does the societal marketing concept consider?

Wants and consumers/society's long-term interests Signup and view all the answers

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

Mobile marketing Signup and view all the answers

What does big data marketing aim to achieve?

Gain deep customer insights and personalize customer engagements Signup and view all the answers

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

Customer relationship management Signup and view all the answers

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

Consumer-generated marketing Signup and view all the answers

What does the marketing mix consist of?

Product, price, place, promotion 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?

Customer perceived value Signup and view all the answers

Marketing Fundamentals Quiz

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Questions and Answers

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

What does customer engagement marketing aim to achieve?

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

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

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

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

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

What does the marketing concept state?

What does the term 'market offerings' refer to?

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

What does the societal marketing concept consider?

What are the four key elements of the marketing mix?

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

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

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

What does customer engagement marketing aim to achieve?

What does the societal marketing concept consider?

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

What does big data marketing aim to achieve?

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

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

What does the marketing mix consist of?

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

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