COMM223 - Marketing - Concordia
University Exam Q&A 100% Solved
Wants - ✔✔Needs that are shaped by culture and individual personality.
Marketing - ✔✔The process by which companies create value for customers and
build strong customer relationships in order to capture value from customers in
return.
Selling Concept - ✔✔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 Management - ✔✔The art and science of choosing target markets
and building profitable relationships with them.
Customer Perceived Value (CPV) - ✔✔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
Marketing Concept - ✔✔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.
1|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, Production Concept - ✔✔The idea that consumers will favor products that are
available and highly affordable; therefore, the organization should focus on
improving production and distribution efficiency.
Product Concept - ✔✔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
The Marketing Process - ✔✔Captures value from customers by creating profits
and customer equity.
Customer Lifetime Value (CLV) - ✔✔The value of the entire stream of purchases
a customer makes over a lifetime of patronage.
Needs - ✔✔States of felt deprivation (hunger, thirst, etc.).
Demands - ✔✔Wants that are backed by buying power.
Marketing Offerings - ✔✔Some combination of products, services, information,
or experiences offered to a market to satisfy a need or want.
Customer Relationship Management (CRM) - ✔✔The overall process of building
and maintaining profitable customer relationships by delivering superior
customer value and satisfaction.
2|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
University Exam Q&A 100% Solved
Wants - ✔✔Needs that are shaped by culture and individual personality.
Marketing - ✔✔The process by which companies create value for customers and
build strong customer relationships in order to capture value from customers in
return.
Selling Concept - ✔✔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 Management - ✔✔The art and science of choosing target markets
and building profitable relationships with them.
Customer Perceived Value (CPV) - ✔✔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
Marketing Concept - ✔✔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.
1|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, Production Concept - ✔✔The idea that consumers will favor products that are
available and highly affordable; therefore, the organization should focus on
improving production and distribution efficiency.
Product Concept - ✔✔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
The Marketing Process - ✔✔Captures value from customers by creating profits
and customer equity.
Customer Lifetime Value (CLV) - ✔✔The value of the entire stream of purchases
a customer makes over a lifetime of patronage.
Needs - ✔✔States of felt deprivation (hunger, thirst, etc.).
Demands - ✔✔Wants that are backed by buying power.
Marketing Offerings - ✔✔Some combination of products, services, information,
or experiences offered to a market to satisfy a need or want.
Customer Relationship Management (CRM) - ✔✔The overall process of building
and maintaining profitable customer relationships by delivering superior
customer value and satisfaction.
2|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
