Marketing MCQ PDF

Chapter 1: Marketing: Creating Customer Value and Engagement smart refresh 2 min refresh 10 min course report REVIEW MODULE...

Chapter 1: Marketing: Creating Customer Value and Engagement smart refresh 2 min refresh 10 min course report REVIEW MODULE QUESTIONS: 21 expand all collapse all attempts i The marketing process captures value from customers by __________.  CORRECT ANSWER: creating profits and customer equity see more __________ are some combination of products, services, information, or experiences offered to a market to satisfy a  need or want. CORRECT ANSWER: Marketing offerings see more __________ is the extent to which a product’s perceived performance matches a buyer’s expectations.   CORRECT ANSWER: Customer satisfaction see more __________ are the form human needs take as they are shaped by culture and individual personality.  CORRECT ANSWER: Wants see more __________ is the act of obtaining a desired object from someone by offering something in return.  CORRECT ANSWER: Exchange see more __________ is the customer’s evaluation of the difference between all the benefits and all the costs of a marketing  offer relative to those of competing offers. CORRECT ANSWER: Customer-perceived value  see more The state of felt deprivation is known as __________.  CORRECT ANSWER: needs see more __________ is the total combined values of all of the company’s customers.  CORRECT ANSWER: Customer equity see more Customer relationship management is __________.  CORRECT ANSWER: the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction see more  The __________ is a philosophy in which achieving organizational goals depends on knowing the needs and wants of  target markets and delivering the desired satisfactions better than competitors do. CORRECT ANSWER: marketing concept see more __________ is the portion of the customer’s purchasing that a company gets in its product categories.  CORRECT ANSWER: Share of customers see more __________ is the value of the entire stream of purchases a customer makes during a lifetime of patronage.  CORRECT ANSWER: Customer lifetime value see more  The __________ is the idea that a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests. CORRECT ANSWER: societal marketing concept see more The __________ is the idea that consumers will favor products that are available and highly affordable; therefore,  the organization should focus on improving production and distribution efficiency. CORRECT ANSWER: production concept see more __________ is the mistake of paying more attention to the specific product a company offers than to the benefits  and experiences produced by these products. CORRECT ANSWER: Marketing myopia see more  __________ is the art and science of choosing target markets and building profitable relationships with them. CORRECT ANSWER: Marketing management see more __________ are human wants that are backed by buying power.  CORRECT ANSWER: Demands see more __________ is the process by which companies create value for customers and build strong customer relationships  in order to capture value from customers in return. CORRECT ANSWER: Marketing see more The __________ is the idea that consumers will not buy enough of the firm’s products unless the firm undertakes a  large-scale selling and promotion effort.  CORRECT ANSWER: selling concept see more The __________ is the idea that consumers will favor products that offer the most quality, performance, and  features; therefore, the organization should devote its energy to making continuous product improvements. CORRECT ANSWER: product concept see more Needs are __________.  CORRECT ANSWER: states of felt deprivation see more