Marketing 101 - Chapter 1 (Pearson - Principles of Marketing) ALL ANSWERS 100% CORRECT SPRING FALL-2023/24 EDITION GUARANTEED GRADE A+

What is Marketing: A. Marketing is a process of creating customer value. B. Marketing deals primarily with TV commercials. C. Marketing deals with telling and selling. D. Marketing is only selling and advertising. E. The aim of marketing is to make selling necessary. A. Marketing is a process of creating customer value. In the final step of the five-step marketing model, companies ___________. A. capture customer value B. work to understand consumers C. build strong customer relationships D. reap the rewards of creating customer value E. create customer value D. reap the rewards of creating customer value After understanding the marketplace and customer needs, what is the next step in the marketing process? A. Creating profits B. Capturing value from customers C. Delighting customers D. Building profitable customer relationships. E. Designing a marketing strategy E. Designing a marketing strategy To capture value from consumers, marketers must _____________. A. tell customers what they need B. advertise extensively C. focus on selling the product D. create value for consumers E. create award-winning products D. create value for consumers _____________ is the first step of the marketing process. A. Building strong relationships with customers B. Developing a marketing strategy C. Capturing value from customersD. Understanding the marketplace, consumer needs, and consumer wants E. Delivering superior value D. Understanding the marketplace, consumer needs, and consumer wants The key element of successful marketing today is to ___________. A. create value B. sell on the internet C. offer low prices D. advertise E. develop innovative products A. create value ____________ is the act of obtaining a desired object from someone by offering something in return. CONTINUED...