MARKETING AN INTRODUCTION ACTUAL
QUESTIONS WITH VERIFIED SOLUTIONS
◉ What is maslow's hierarchy of needs?
Answer: It states that people's needs are arranged in a hierarchy and
you have to fulfill one before the other will be needed.
For example you must fulfill the psychological need for hunger and
thirst before fulfilling social needs such as love and belonging.
psychological needs> safety needs> social needs> esteem needs>
self-actualization needs.
◉ Needs
Answer: States of felt deprivation
◉ Wants
Answer: The form human needs take as they are shaped by culture
and individual personality
◉ Demands
Answer: Human wants that are backed by buying power
◉ Market offerings
,Answer: Some combination of products, services, information, or
experiences offered to a market to satisfy a need or want
◉ Marketing myopia
Answer: The mistake of paying more attention to the specific
products a company offers than to the benefits and experiences
produced by these products
◉ Exchange
Answer: The act of obtaining a desired object from someone by
offering something in return
◉ Market
Answer: The set of all actual and potential buyers of a product or
service
◉ Marketing management
Answer: The art and science of choosing target markets and building
profitable relationships with them
◉ Production concept
Answer: 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
◉ Product concept
Answer: A detailed version of the new product idea stated in
meaningful customer terms
◉ Selling concept
Answer: The idea that consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and
promotion effort
◉ Marketing concept
Answer: 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
◉ Societal marketing concept
Answer: A principle of sustainable marketing holding that a
company should make marketing decisions by considering
consumers' wants, the company's requirements, consumers' long-
run interests, and society's long-run interests
◉ Customer relationship management
, Answer: The overall process of building and maintaining profitable
customer relationships by delivering superior customer value and
satisfaction
◉ Customer-percieved value
Answer: 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
◉ Customer satisfaction
Answer: The extent to which a product's perceived performance
matches a buyer's expectations
◉ Customer-engagement marketing
Answer: Making the brand a meaningful part of consumers'
conversations and lives by fostering direct and continuous customer
involvement in shaping brand conversations, experiences, and
community
◉ Consumer-generated marketing
Answer: Brand exchanges created by consumers themselves-- both
invited and uninvited-- by which consumers are playing an
increasing role in shaping their own brand experiences and those of
other consumers
QUESTIONS WITH VERIFIED SOLUTIONS
◉ What is maslow's hierarchy of needs?
Answer: It states that people's needs are arranged in a hierarchy and
you have to fulfill one before the other will be needed.
For example you must fulfill the psychological need for hunger and
thirst before fulfilling social needs such as love and belonging.
psychological needs> safety needs> social needs> esteem needs>
self-actualization needs.
◉ Needs
Answer: States of felt deprivation
◉ Wants
Answer: The form human needs take as they are shaped by culture
and individual personality
◉ Demands
Answer: Human wants that are backed by buying power
◉ Market offerings
,Answer: Some combination of products, services, information, or
experiences offered to a market to satisfy a need or want
◉ Marketing myopia
Answer: The mistake of paying more attention to the specific
products a company offers than to the benefits and experiences
produced by these products
◉ Exchange
Answer: The act of obtaining a desired object from someone by
offering something in return
◉ Market
Answer: The set of all actual and potential buyers of a product or
service
◉ Marketing management
Answer: The art and science of choosing target markets and building
profitable relationships with them
◉ Production concept
Answer: 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
◉ Product concept
Answer: A detailed version of the new product idea stated in
meaningful customer terms
◉ Selling concept
Answer: The idea that consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and
promotion effort
◉ Marketing concept
Answer: 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
◉ Societal marketing concept
Answer: A principle of sustainable marketing holding that a
company should make marketing decisions by considering
consumers' wants, the company's requirements, consumers' long-
run interests, and society's long-run interests
◉ Customer relationship management
, Answer: The overall process of building and maintaining profitable
customer relationships by delivering superior customer value and
satisfaction
◉ Customer-percieved value
Answer: 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
◉ Customer satisfaction
Answer: The extent to which a product's perceived performance
matches a buyer's expectations
◉ Customer-engagement marketing
Answer: Making the brand a meaningful part of consumers'
conversations and lives by fostering direct and continuous customer
involvement in shaping brand conversations, experiences, and
community
◉ Consumer-generated marketing
Answer: Brand exchanges created by consumers themselves-- both
invited and uninvited-- by which consumers are playing an
increasing role in shaping their own brand experiences and those of
other consumers
