Podcast
Questions and Answers
What is the difference between wants and demands?
What is the difference between wants and demands?
- Wants are human needs, while demands are a form of felt deprivation
- Wants are shaped by culture and individual personality, while demands are backed by buying power (correct)
- Wants are products offered in the market, while demands are consumer expectations
- Wants are backed by buying power, while demands are shaped by culture and individual personality
What does the concept of Marketing Myopia refer to?
What does the concept of Marketing Myopia refer to?
- Focusing more on the benefits and experiences produced rather than specific products
- Creating, maintaining, and growing exchange relationships through marketing actions
- Paying attention to the specific products rather than the overall value and experiences delivered (correct)
- Choosing target markets and building profitable relationships with them
What is the core focus of Societal Marketing concept?
What is the core focus of Societal Marketing concept?
- Meeting present needs of consumers while preserving the ability of future generations to meet their needs (correct)
- Delivering satisfaction better than competitors
- Promoting large scale selling and promotion efforts
- Creating sustainable marketing strategies for long-term profit
How does Marketing Management differentiate from Marketing as a process?
How does Marketing Management differentiate from Marketing as a process?
How do customers form expectations about market offerings?
How do customers form expectations about market offerings?
What are the four Ps of the marketing mix?
What are the four Ps of the marketing mix?
Which term describes the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction?
Which term describes the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction?
What does 'customer lifetime value' refer to?
What does 'customer lifetime value' refer to?
In the context of Customer Relationship Groups, which group represents customers with the lowest profit potential?
In the context of Customer Relationship Groups, which group represents customers with the lowest profit potential?
What does 'Not-for-profit marketing' aim to help organizations attract?
What does 'Not-for-profit marketing' aim to help organizations attract?
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