Marketing Multiple Choice
UNIT1
Marketing is _____. 1. another word for advertising and sales 2. only used by major corporations 3. about satisfying customer needs 4. about simply making a profit
The first step in the marketing process is to work to understand customers. 1. True 2. False
Once we have created value for customers, the final step in the marketing process is to capture value from them. 1. True 2. False
The most basic concept underlying marketing is that of _____. 1. profits 2. products 3. human needs 4. services
Marketers create social needs in consumers. 1. True 2. False (Marketers do not create customer needs, whether social, physical or individual. Needs are a basic part of the human makeup.)
The act of obtaining a desired object from someone by offering something in return is called a(n) _____. 1. exchange 2. switch 3. market 4. sale
The art and science of choosing target markets and building profitable relationships with them is called _____. 1. marketing profiles 2. marketing maneuvers 3. marketing selection 4. marketing management
Which marketing philosophy listed below is useful when supply exceeds demand and when production costs are too high and need to be reduced? 1. production concept 2. product concept 3. selling concept 4. marketing concept
Which marketing philosophy believes that an organization can achieve its goals if it knows the needs of its target market well and delivers satisfaction better than its competition? 1. production concept 2. product concept 1. selling concept 2. marketing concept
Customer relationship management (CRM) is solely about acquiring and keeping customers. 1. True 2. False (CRM is about acquiring, keeping and growing customers.)
To build lasting customer relationships, firms should focus on delivering
Marketing is _____. 1. another word for advertising and sales 2. only used by major corporations 3. about satisfying customer needs 4. about simply making a profit
The first step in the marketing process is to work to understand customers. 1. True 2. False
Once we have created value for customers, the final step in the marketing process is to capture value from them. 1. True 2. False
The most basic concept underlying marketing is that of _____. 1. profits 2. products 3. human needs 4. services
Marketers create social needs in consumers. 1. True 2. False (Marketers do not create customer needs, whether social, physical or individual. Needs are a basic part of the human makeup.)
The act of obtaining a desired object from someone by offering something in return is called a(n) _____. 1. exchange 2. switch 3. market 4. sale
The art and science of choosing target markets and building profitable relationships with them is called _____. 1. marketing profiles 2. marketing maneuvers 3. marketing selection 4. marketing management
Which marketing philosophy listed below is useful when supply exceeds demand and when production costs are too high and need to be reduced? 1. production concept 2. product concept 3. selling concept 4. marketing concept
Which marketing philosophy believes that an organization can achieve its goals if it knows the needs of its target market well and delivers satisfaction better than its competition? 1. production concept 2. product concept 1. selling concept 2. marketing concept
Customer relationship management (CRM) is solely about acquiring and keeping customers. 1. True 2. False (CRM is about acquiring, keeping and growing customers.)
To build lasting customer relationships, firms should focus on delivering