BUSML 3250 Exam 1
In the final steps of the 5-step marketing model, companies ______. - Answer-Reap the rewards of
creating customer value
What is marketing? - Answer-A process of creating customer value
The basic concept underlying marketing is _____. - Answer-Customer needs
_______ is the act of obtaining a desired object from someone by offering something in return - Answer-
Exchange
A brand's ________ involves the set of benefits or values it promotes to deliver to consumers - Answer-
Value Proposition
The ______ concept holds that consumers will favor products that are available and affordable -
Answer-Production
Customer relationship building blocks consist of: - Answer-Customer value and satisfaction
Although a "customer-centered" firm seeks to deliver high customer satisfaction relative to competitors,
it ______. - Answer-Does not attempt to maximize customer satisfaction
Which is the fastest-growing digital marketing platform? - Answer-Mobile Marketing
,To create and capture customer value, companies must engage the first step of the marketing process
which is ______. - Answer-Understand the marketplace and customer needs and wants.
Marketing was once understood in the sense of making a sale. Today, marketing is understood in the
new sense of _____. - Answer-Satisfying customer needs
Te key element of successful marketing today is to _____. - Answer-Create value
What is the final step in the marketing process? - Answer-Capture value from customers
Engaging customers and managing profitable customer relationships is the simplest definition of____. -
Answer-Marketing
You are thirsty and decide to have an iced tea. Your thirst is a _____ and your choice of iced tea is a
_____. - Answer-Need;Want
Which of the following correctly identifies the five corse customer and marketplace concepts? - Answer-
1. Need, wants, & demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
5. Markets
Which of the following uses a sense-and-respond philosophy to promote a customer-centered
marketing orientation? - Answer-The Market Concept
Customers such as IBM, Walmart, and Google now look beyond economic gain and, in their marketing
strategies, they also consider the well-being of customers, the depletion of natural resources, the
, viability of suppliers, and the interest of the local community. This reflects which marketing philosophy?
- Answer-The Societal Marketing Concept
What are the 4 P's of Marketing - Answer-Product
Price
Place
Promotion
What is the key to building lasting customer relationships? - Answer-Creating superior customer value
and satisfaction
______ is the customers evaluation of the difference between all the benefits and all the costs of a
market offering relative to those of competing offers. - Answer-Customer-perceived value
Which of the following is an accurate statement about building customer relationships in the modern
marketing era? - Answer-Building relationships through consumer-generated content is expensive and
takes time.
The primary goal of consistently delivering superior value is to ______. - Answer-Build profitable
customer relationship
In marketing terms, what is a market? - Answer-The set of actual and potential buyers of a product or
service.
Marketing offerings include: - Answer-Products
Services
Experiences
In the final steps of the 5-step marketing model, companies ______. - Answer-Reap the rewards of
creating customer value
What is marketing? - Answer-A process of creating customer value
The basic concept underlying marketing is _____. - Answer-Customer needs
_______ is the act of obtaining a desired object from someone by offering something in return - Answer-
Exchange
A brand's ________ involves the set of benefits or values it promotes to deliver to consumers - Answer-
Value Proposition
The ______ concept holds that consumers will favor products that are available and affordable -
Answer-Production
Customer relationship building blocks consist of: - Answer-Customer value and satisfaction
Although a "customer-centered" firm seeks to deliver high customer satisfaction relative to competitors,
it ______. - Answer-Does not attempt to maximize customer satisfaction
Which is the fastest-growing digital marketing platform? - Answer-Mobile Marketing
,To create and capture customer value, companies must engage the first step of the marketing process
which is ______. - Answer-Understand the marketplace and customer needs and wants.
Marketing was once understood in the sense of making a sale. Today, marketing is understood in the
new sense of _____. - Answer-Satisfying customer needs
Te key element of successful marketing today is to _____. - Answer-Create value
What is the final step in the marketing process? - Answer-Capture value from customers
Engaging customers and managing profitable customer relationships is the simplest definition of____. -
Answer-Marketing
You are thirsty and decide to have an iced tea. Your thirst is a _____ and your choice of iced tea is a
_____. - Answer-Need;Want
Which of the following correctly identifies the five corse customer and marketplace concepts? - Answer-
1. Need, wants, & demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
5. Markets
Which of the following uses a sense-and-respond philosophy to promote a customer-centered
marketing orientation? - Answer-The Market Concept
Customers such as IBM, Walmart, and Google now look beyond economic gain and, in their marketing
strategies, they also consider the well-being of customers, the depletion of natural resources, the
, viability of suppliers, and the interest of the local community. This reflects which marketing philosophy?
- Answer-The Societal Marketing Concept
What are the 4 P's of Marketing - Answer-Product
Price
Place
Promotion
What is the key to building lasting customer relationships? - Answer-Creating superior customer value
and satisfaction
______ is the customers evaluation of the difference between all the benefits and all the costs of a
market offering relative to those of competing offers. - Answer-Customer-perceived value
Which of the following is an accurate statement about building customer relationships in the modern
marketing era? - Answer-Building relationships through consumer-generated content is expensive and
takes time.
The primary goal of consistently delivering superior value is to ______. - Answer-Build profitable
customer relationship
In marketing terms, what is a market? - Answer-The set of actual and potential buyers of a product or
service.
Marketing offerings include: - Answer-Products
Services
Experiences
