MKTG 6822 Exam 1 QUESTIONS WITH \| \| \| \| \| \|
ANSWERS
The two paths to marketing strategy are - CORRECT ANSWERS
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✔✔Outside-in and Inside-out \| \|
Amazon CEO Jeff Bezos created the __________________ approach
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to help employees to take the customer perspective. - CORRECT
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ANSWERS ✔✔Empty Chair \| \|
__________ is a company's ability to sense and act on data across
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organization by finding patterns and identifying opportunities -
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CORRECT ANSWERS ✔✔Market Insight \| \| \|
_____________ is the trade off between the benefits that customers \| \| \| \| \| \| \| \| \|
perceive they are receiving from a product/service and the
\| \| \| \| \| \| \| \| \| \|
perceived cost of obtaining these benefits - CORRECT ANSWERS
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✔✔customer value \|
Even after completing market research, ___, failed in the US
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because they failed to understand the American customer -
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CORRECT ANSWERS ✔✔Tesco \| \|
Which if the following is not an imperative stated by Day and
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Moorman? - CORRECT ANSWERS ✔✔Capitalize on the product as
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an asset. \|
,Theodore Levitt's "Marketing Myopia" says companies fail to
\| \| \| \| \| \| \| \|
focus on the ___ and choose to focus on selling products and
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services - CORRECT ANSWERS ✔✔customer
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In the past, companies focused on ___ value, hen they should be
\| \| \| \| \| \| \| \| \| \| \| \|
focusing on customers' needs and wants. - CORRECT ANSWERS
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✔✔shareholder
Tesco uses ____ to engage with its customers and provide
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outstanding customer service. - CORRECT ANSWERS \| \| \| \| \| \|
✔✔technology
According to Interbrand, the Best Global Brand in the world is -
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CORRECT ANSWERS ✔✔Apple \| \|
Market leaders create ___ for their customers - CORRECT
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ANSWERS ✔✔value \|
____ is a value leader for technology. It has developed its value
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position based on seeing things differently. - CORRECT ANSWERS
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✔✔Apple
The Value Proposition can be developed on different __, including
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prospect, product, and process. - CORRECT ANSWERS ✔✔levels
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Mercedes Benz providing different luxury levels of vehicles is an
\| \| \| \| \| \| \| \| \| \|
example of ___ value - CORRECT ANSWERS ✔✔price
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, Mercedes Benz Service and Genuine Parts is an example of ___
\| \| \| \| \| \| \| \| \| \| \|
value. - CORRECT ANSWERS ✔✔relational
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When Mercedes Benz highlights the functionality of its vehicles, it
\| \| \| \| \| \| \| \| \|
is focusing on ___ value. - CORRECT ANSWERS ✔✔performance
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Fairlife is a brand of milk in the ______ for the beverage
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industry. - CORRECT ANSWERS ✔✔consideration set
\| \| \| \| \|
____ are actionable, specific, measurable, and time sensitive. -
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CORRECT ANSWERS ✔✔objectives \| \|
As the market evolves, companies need to balance how _____
\| \| \| \| \| \| \| \| \| \|
are acting and where ______ are moving. - CORRECT ANSWERS
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✔✔competitors, customers \|
The __ tell customers what are the tangible and intangible
\| \| \| \| \| \| \| \| \| \|
benefits that they will received from the product or service -
\| \| \| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔value proposition \| \| \|
A value ___ system links all the activities of a company together
\| \| \| \| \| \| \| \| \| \| \| \|
to create and deliver customer value. - CORRECT ANSWERS
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✔✔Creating
A value ____ system is how a business creates a profit. -
\| \| \| \| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔capturing \| \|
ANSWERS
The two paths to marketing strategy are - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \| \|
✔✔Outside-in and Inside-out \| \|
Amazon CEO Jeff Bezos created the __________________ approach
\| \| \| \| \| \| \| \|
to help employees to take the customer perspective. - CORRECT
\| \| \| \| \| \| \| \| \| \|
ANSWERS ✔✔Empty Chair \| \|
__________ is a company's ability to sense and act on data across
\| \| \| \| \| \| \| \| \| \| \| \|
organization by finding patterns and identifying opportunities -
\| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔Market Insight \| \| \|
_____________ is the trade off between the benefits that customers \| \| \| \| \| \| \| \| \|
perceive they are receiving from a product/service and the
\| \| \| \| \| \| \| \| \| \|
perceived cost of obtaining these benefits - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔customer value \|
Even after completing market research, ___, failed in the US
\| \| \| \| \| \| \| \| \| \|
because they failed to understand the American customer -
\| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔Tesco \| \|
Which if the following is not an imperative stated by Day and
\| \| \| \| \| \| \| \| \| \| \| \|
Moorman? - CORRECT ANSWERS ✔✔Capitalize on the product as
\| \| \| \| \| \| \| \| \|
an asset. \|
,Theodore Levitt's "Marketing Myopia" says companies fail to
\| \| \| \| \| \| \| \|
focus on the ___ and choose to focus on selling products and
\| \| \| \| \| \| \| \| \| \| \| \|
services - CORRECT ANSWERS ✔✔customer
\| \| \| \|
In the past, companies focused on ___ value, hen they should be
\| \| \| \| \| \| \| \| \| \| \| \|
focusing on customers' needs and wants. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔shareholder
Tesco uses ____ to engage with its customers and provide
\| \| \| \| \| \| \| \| \| \|
outstanding customer service. - CORRECT ANSWERS \| \| \| \| \| \|
✔✔technology
According to Interbrand, the Best Global Brand in the world is -
\| \| \| \| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔Apple \| \|
Market leaders create ___ for their customers - CORRECT
\| \| \| \| \| \| \| \| \|
ANSWERS ✔✔value \|
____ is a value leader for technology. It has developed its value
\| \| \| \| \| \| \| \| \| \| \| \|
position based on seeing things differently. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔Apple
The Value Proposition can be developed on different __, including
\| \| \| \| \| \| \| \| \| \|
prospect, product, and process. - CORRECT ANSWERS ✔✔levels
\| \| \| \| \| \| \|
Mercedes Benz providing different luxury levels of vehicles is an
\| \| \| \| \| \| \| \| \| \|
example of ___ value - CORRECT ANSWERS ✔✔price
\| \| \| \| \| \| \|
, Mercedes Benz Service and Genuine Parts is an example of ___
\| \| \| \| \| \| \| \| \| \| \|
value. - CORRECT ANSWERS ✔✔relational
\| \| \| \|
When Mercedes Benz highlights the functionality of its vehicles, it
\| \| \| \| \| \| \| \| \|
is focusing on ___ value. - CORRECT ANSWERS ✔✔performance
\| \| \| \| \| \| \| \| \|
Fairlife is a brand of milk in the ______ for the beverage
\| \| \| \| \| \| \| \| \| \| \| \|
industry. - CORRECT ANSWERS ✔✔consideration set
\| \| \| \| \|
____ are actionable, specific, measurable, and time sensitive. -
\| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔objectives \| \|
As the market evolves, companies need to balance how _____
\| \| \| \| \| \| \| \| \| \|
are acting and where ______ are moving. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \| \|
✔✔competitors, customers \|
The __ tell customers what are the tangible and intangible
\| \| \| \| \| \| \| \| \| \|
benefits that they will received from the product or service -
\| \| \| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔value proposition \| \| \|
A value ___ system links all the activities of a company together
\| \| \| \| \| \| \| \| \| \| \| \|
to create and deliver customer value. - CORRECT ANSWERS
\| \| \| \| \| \| \| \| \|
✔✔Creating
A value ____ system is how a business creates a profit. -
\| \| \| \| \| \| \| \| \| \| \| \|
CORRECT ANSWERS ✔✔capturing \| \|
