Podcast
Questions and Answers
Which one of the following best describes marketing?
Which one of the following best describes marketing?
- The process of attracting new customers
- The process of capturing value from customers
- The process of building strong customer relationships
- The process of creating customer value (correct)
What are the two main functions of marketing?
What are the two main functions of marketing?
- Delivering value and satisfaction to customers
- Understanding the marketplace and customer needs and wants
- Attracting new customers and building strong customer relationships (correct)
- Capturing value from customers and creating customer delight
What is customer equity?
What is customer equity?
- The value derived from the number of customers and brand loyalty (correct)
- The value obtained by the seller from the customer
- The value derived from sales and profits
- The value obtained by the customer from the seller
What is the formula for calculating customer equity?
What is the formula for calculating customer equity?
What are market offerings?
What are market offerings?
What are customer needs?
What are customer needs?
What are customer wants?
What are customer wants?
What are customer demands?
What are customer demands?
What is the first step in the marketing process?
What is the first step in the marketing process?
What is the last step in the marketing process?
What is the last step in the marketing process?
Which of the following is NOT included in market offerings?
Which of the following is NOT included in market offerings?
What is the act of obtaining a desired object from someone by offering something in return called?
What is the act of obtaining a desired object from someone by offering something in return called?
What is the set of actual and potential buyers of a product or service called?
What is the set of actual and potential buyers of a product or service called?
What is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction called?
What is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction called?
Which marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
Which marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
What are the four components of a company's Marketing Mix (4 P's)?
What are the four components of a company's Marketing Mix (4 P's)?
What is the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers called?
What is the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers called?
What is the use of digital marketing tools such as websites, social media, mobile apps, and ads to engage consumers anywhere, at any time via their digital devices called?
What is the use of digital marketing tools such as websites, social media, mobile apps, and ads to engage consumers anywhere, at any time via their digital devices called?
What is all about fostering direct and continuous customer involvement in shaping brand conversations, brand experiences, and brand community called?
What is all about fostering direct and continuous customer involvement in shaping brand conversations, brand experiences, and brand community called?
What is it called when consumers themselves create brand exchanges and play an increasing role in shaping their own brand experiences and those of others?
What is it called when consumers themselves create brand exchanges and play an increasing role in shaping their own brand experiences and those of others?