1
BUSML 3250 Exam 1: Quiz and Warm-
Up Questions Questions with 100%
Correct Answers
In the final steps of the 5-step marketing model, companies ______. Correct
Answer: Reap the rewards of creating customer value
What is marketing? Correct Answer: A process of creating customer value
The basic concept underlying marketing is _____. Correct Answer: Customer
needs
_______ is the act of obtaining a desired object from someone by offering
something in return Correct Answer: Exchange
A brand's ________ involves the set of benefits or values it promotes to deliver to
consumers Correct Answer: Value Proposition
The ______ concept holds that consumers will favor products that are available
and affordable Correct Answer: Production
Customer relationship building blocks consist of: Correct Answer: Customer
value and satisfaction
Although a "customer-centered" firm seeks to deliver high customer satisfaction
relative to competitors, it ______. Correct Answer: Does not attempt to maximize
customer satisfaction
:
vPretest - Stuvia US
,2
Which is the fastest-growing digital marketing platform? Correct Answer: Mobile
Marketing
To create and capture customer value, companies must engage the first step
of the marketing process which is ______. Correct Answer: Understand the
marketplace and customer needs and wants.
Marketing was once understood in the sense of making a sale. Today,
marketing is understood in the new sense of _____. Correct Answer: Satisfying
customer needs
Te key element of successful marketing today is to _____. Correct Answer:
Create value
What is the final step in the marketing process? Correct Answer: Capture value
from customers
Engaging customers and managing profitable customer relationships is the
simplest definition of____. Correct Answer: Marketing
You are thirsty and decide to have an iced tea. Your thirst is a _____ and your
choice of iced tea is a _____. Correct Answer: Need;Want
Which of the following correctly identifies the five corse customer and
marketplace concepts? Correct Answer: 1. Need, wants, & demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
:
vPretest - Stuvia US
, 3
5. Markets
Which of the following uses a sense-and-respond philosophy to promote a
customer-centered marketing orientation? Correct Answer: The Market
Concept
Customers such as IBM, Walmart, and Google now look beyond economic gain
and, in their marketing strategies, they also consider the well-being of
customers, the depletion of natural resources, the viability of suppliers, and the
interest of the local community. This reflects which marketing philosophy?
Correct Answer: The Societal Marketing Concept
What are the 4 P's of Marketing Correct Answer: Product
Price
Place
Promotion
What is the key to building lasting customer relationships? Correct Answer:
Creating superior customer value and satisfaction
______ is the customers evaluation of the difference between all the benefits
and all the costs of a market offering relative to those of competing offers.
Correct Answer: Customer-perceived value
Which of the following is an accurate statement about building customer
relationships in the modern marketing era? Correct Answer: Building
relationships through consumer-generated content is expensive and takes time.
:
vPretest - Stuvia US
BUSML 3250 Exam 1: Quiz and Warm-
Up Questions Questions with 100%
Correct Answers
In the final steps of the 5-step marketing model, companies ______. Correct
Answer: Reap the rewards of creating customer value
What is marketing? Correct Answer: A process of creating customer value
The basic concept underlying marketing is _____. Correct Answer: Customer
needs
_______ is the act of obtaining a desired object from someone by offering
something in return Correct Answer: Exchange
A brand's ________ involves the set of benefits or values it promotes to deliver to
consumers Correct Answer: Value Proposition
The ______ concept holds that consumers will favor products that are available
and affordable Correct Answer: Production
Customer relationship building blocks consist of: Correct Answer: Customer
value and satisfaction
Although a "customer-centered" firm seeks to deliver high customer satisfaction
relative to competitors, it ______. Correct Answer: Does not attempt to maximize
customer satisfaction
:
vPretest - Stuvia US
,2
Which is the fastest-growing digital marketing platform? Correct Answer: Mobile
Marketing
To create and capture customer value, companies must engage the first step
of the marketing process which is ______. Correct Answer: Understand the
marketplace and customer needs and wants.
Marketing was once understood in the sense of making a sale. Today,
marketing is understood in the new sense of _____. Correct Answer: Satisfying
customer needs
Te key element of successful marketing today is to _____. Correct Answer:
Create value
What is the final step in the marketing process? Correct Answer: Capture value
from customers
Engaging customers and managing profitable customer relationships is the
simplest definition of____. Correct Answer: Marketing
You are thirsty and decide to have an iced tea. Your thirst is a _____ and your
choice of iced tea is a _____. Correct Answer: Need;Want
Which of the following correctly identifies the five corse customer and
marketplace concepts? Correct Answer: 1. Need, wants, & demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
:
vPretest - Stuvia US
, 3
5. Markets
Which of the following uses a sense-and-respond philosophy to promote a
customer-centered marketing orientation? Correct Answer: The Market
Concept
Customers such as IBM, Walmart, and Google now look beyond economic gain
and, in their marketing strategies, they also consider the well-being of
customers, the depletion of natural resources, the viability of suppliers, and the
interest of the local community. This reflects which marketing philosophy?
Correct Answer: The Societal Marketing Concept
What are the 4 P's of Marketing Correct Answer: Product
Price
Place
Promotion
What is the key to building lasting customer relationships? Correct Answer:
Creating superior customer value and satisfaction
______ is the customers evaluation of the difference between all the benefits
and all the costs of a market offering relative to those of competing offers.
Correct Answer: Customer-perceived value
Which of the following is an accurate statement about building customer
relationships in the modern marketing era? Correct Answer: Building
relationships through consumer-generated content is expensive and takes time.
:
vPretest - Stuvia US
