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Questions and Answers
What is the main purpose of marketing?
What is the main purpose of marketing?
- To identify human and social needs (correct)
- To hire more employees
- To make a profit for the company
- To create strong brands with loyal customers
What does marketing management involve?
What does marketing management involve?
- Communicating inferior customer value
- Creating products without considering customer needs
- Choosing target markets and creating, delivering, and communicating superior customer value (correct)
- Choosing target markets based on personal preference
What does the Customer Satisfaction Index (CSI) measure?
What does the Customer Satisfaction Index (CSI) measure?
- Both B and C (correct)
- Employee satisfaction
- Customer satisfaction
- Stock price index
What do marketers seek from prospects?
What do marketers seek from prospects?
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How many demand states are there?
How many demand states are there?
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What do marketers do depending on the demand state?
What do marketers do depending on the demand state?
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What types of products can be marketed?
What types of products can be marketed?
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Study Notes
- Marketing creates financial success, jobs, and strong brands with loyal customers.
- Marketing is about identifying human and social needs.
- Marketing management involves choosing target markets and creating, delivering, and communicating superior customer value.
- Customer Satisfaction Index (CSI) measures customer satisfaction and correlates with stock price index and profitability.
- Marketers seek a response from prospects.
- There are 8 demand states, including negative, non-existent, latent, declining, and irregular.
- Marketing tasks vary depending on the demand state.
- Products marketed include goods, services, events, experiences, persons, places, properties, organizations, information, and ideas.
- Marketers analyze reasons for dislike and find ways to connect benefits with natural needs and interests.
- Marketing can measure potential markets and develop effective goods and services to satisfy demand.
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