MKTG 3340 Test 1 Orosy Terms with complete solutions

Marketing correct answersA process by which companies create value for customers and build strong relationships in order to capture value from customers Needs correct answersstates of felt deprivation Wants correct answersThe form human needs take as shaped by culture and personality Demands correct answersHuman wants backed by buying power Market Offerings correct answersA combination of products, services, info, or experiences offered to a market to satisfy a want or need Marketing Myopia correct answersPaying more attention to the product than the benefits/experiences Exchange relationships correct answersRelationships between companies and people centered around a demand A market correct answersThe set of actual and potential buyers value proposition correct answersThe set of benefits or values it promises to deliver to satisfy customer needs Societal marketing correct answersThree considerations for the company: consumers' wants, company requirements, and the interests of society/consumers. Marketing mix correct answersSet of tools: product, price, promotion, place