MARK 3336 Quiz 1 UH Professor Koch Study Guide

MARK 3336 Quiz 1 UH Professor Koch Study Guide


What is marketing?
A.
Marketing is only selling and advertising.
B.
The aim of marketing is to make selling necessary.
C.
Marketing deals with telling and selling.
D.
Marketing deals primarily with TV commercials.
E.
Marketing is a process of creating customer value. - ANSWER E.
Marketing is a process of creating customer value.

In the final step of the five-step marketing model, companies __________.
A.
capture customer value
B.
reap the rewards of creating customer value.
C.
build strong customer relationships
D.
work to understand consumers
E.
create customer value - ANSWER B.
reap the rewards of creating customer value

The basic concept underlying marketing is that of __________.
A.
customer demand
B.
customer experience
C.
customer wants
D.
customer relationship
E.
customer needs - ANSWER E.
customer needs

, __________ is the act of obtaining a desired object from someone by offering
something in return.
A.
Want
B.
Demand
C.
Satisfaction
D.
Exchange
E.
Need - ANSWER D.
Exchange

A brand's __________ involves the set of benefits or values it promises to deliver
to consumers.
A.
marketing management
B.
market segmentation
C.
target marketing
D.
customer management
E.
value proposition - ANSWER E.
value proposition

The __________ concept holds that consumers will favor products that are
available and affordable.
A.
product
B.
production
C.
marketing
D.
societal marketing
E.
selling - ANSWER B.
production

Customer relationship building blocks consist of __________.
A.
price and promotion
B.