Podcast
Questions and Answers
Which of the following best defines marketing?
Which of the following best defines marketing?
- The process of building strong customer relationships
- The process of acquiring new customers
- The process of identifying customer requirements
- The process of creating customer value (correct)
What is the importance of understanding the marketplace and customer needs in marketing?
What is the importance of understanding the marketplace and customer needs in marketing?
- To identify customer requirements (correct)
- To acquire new customers
- To build strong customer relationships
- To create customer value
What happens when customers are dissatisfied with a product?
What happens when customers are dissatisfied with a product?
- They switch to competitors and disparage the product to others (correct)
- They buy again and tell others about their good experiences
- They choose among many market offerings
- They form expectations about the value and satisfaction of market offerings
Which one of the following is NOT true about marketing?
Which one of the following is NOT true about marketing?
What is the aim of marketing according to Peter Drucker?
What is the aim of marketing according to Peter Drucker?
Which of the following is NOT part of the marketing mix?
Which of the following is NOT part of the marketing mix?
What is exchange in the context of marketing?
What is exchange in the context of marketing?
Which one of the following is NOT part of the marketing mix?
Which one of the following is NOT part of the marketing mix?
What is the key to building long-lasting customer relationships?
What is the key to building long-lasting customer relationships?
What is customer perceived value?
What is customer perceived value?
What is customer satisfaction?
What is customer satisfaction?
Which of the following is NOT a characteristic of a mission statement?
Which of the following is NOT a characteristic of a mission statement?
What does an Abell-diagram help in delineating?
What does an Abell-diagram help in delineating?
What is portfolio analysis in strategic planning?
What is portfolio analysis in strategic planning?
Which concept focuses on improving production and distribution efficiency?
Which concept focuses on improving production and distribution efficiency?
Which concept focuses on continuous product improvements?
Which concept focuses on continuous product improvements?
Which concept emphasizes on creating sales transactions rather than building long-term customer relationships?
Which concept emphasizes on creating sales transactions rather than building long-term customer relationships?
Which concept focuses on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
Which concept focuses on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
Which level of planning involves a company division, a product line within a division, or a single product or brand?
Which level of planning involves a company division, a product line within a division, or a single product or brand?
What is the purpose of a mission statement?
What is the purpose of a mission statement?
What is the process in which the objectives and capacities of a company are matched against evolving opportunities and threats?
What is the process in which the objectives and capacities of a company are matched against evolving opportunities and threats?
What is the challenge faced by marketers in a dynamic economic environment?
What is the challenge faced by marketers in a dynamic economic environment?
Which of the following best describes consumer-generated marketing?
Which of the following best describes consumer-generated marketing?
What can happen if a company fails to master digital and social media relationship tools?
What can happen if a company fails to master digital and social media relationship tools?
What is customer lifetime value?
What is customer lifetime value?
What does customer equity measure?
What does customer equity measure?
Which one of the following best describes the societal marketing concept?
Which one of the following best describes the societal marketing concept?
Which of the following is an example of a market offering?
Which of the following is an example of a market offering?
What is the difference between human needs and wants?
What is the difference between human needs and wants?
What is marketing myopia?
What is marketing myopia?
Which growth strategy involves increasing sales of current market segments without changing the product?
Which growth strategy involves increasing sales of current market segments without changing the product?
Which growth strategy involves identifying and developing new market segments for company products?
Which growth strategy involves identifying and developing new market segments for company products?
Which growth strategy involves offering modified or new products to current market segments?
Which growth strategy involves offering modified or new products to current market segments?
Which growth strategy involves starting up or acquiring businesses outside the company's current products and markets?
Which growth strategy involves starting up or acquiring businesses outside the company's current products and markets?
Which two dimensions are used to evaluate SBUs in most standard portfolio analysis methods?
Which two dimensions are used to evaluate SBUs in most standard portfolio analysis methods?
What are the four categories in the BCG Growth-Share Matrix?
What are the four categories in the BCG Growth-Share Matrix?
What is the role of stars in the BCG Growth-Share Matrix?
What is the role of stars in the BCG Growth-Share Matrix?
What is the role of cash cows in the BCG Growth-Share Matrix?
What is the role of cash cows in the BCG Growth-Share Matrix?
