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Marketing Fundamentals: Understanding Customer Needs

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Marketing Fundamentals: Understanding Customer Needs

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Questions and Answers

What is the primary goal of marketing in the hospitality and travel industry?

To maximize profits
To reduce competition
To satisfy both customers' needs and wants and the organization's objectives (correct)
To create brand awareness

Which of the following is NOT a component of the PRICE of marketing?

Feedback (correct)
Planning
Research
Implementation

What is the primary focus of market orientation?

Creating brand awareness
Satisfying customers' needs and wants (correct)
Maximizing profits
Meeting organizational objectives

What is the role of research in marketing?

To understand customer needs and wants (A) Signup and view all the answers

What is the final step in the PRICE of marketing?

Evaluation (C) Signup and view all the answers

What is the primary goal of customer relationship management?

To retain existing customers (C) Signup and view all the answers

What is the process of identifying and selecting target markets called?

Market segmentation (B) Signup and view all the answers

What is the primary focus of marketing strategy development?

Developing marketing plans (A) Signup and view all the answers

What is the role of control in the PRICE of marketing?

To monitor and adjust marketing activities (B) Signup and view all the answers

What is the primary goal of customer needs analysis?

To identify customer needs and wants (C) Signup and view all the answers