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Which marketing management philosophy focuses on the question, "What do customers want and need?" - -market -A company that wants to implement a market orientation would need to: a) establish and maintain mutually satisfying relationships with customers. b) determine how to deliver superior...

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  • February 17, 2023
  • 3
  • 2022/2023
  • Exam (elaborations)
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  • marketing quiz 25 questionsanswers for a student

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  • Marketing Quiz 25 Questions/Answers for A+ Student
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Marketing Quiz 25 Questions/Answers for A+ Student

Which marketing management philosophy focuses on the question, "What do
customers want and need?" - -market

-A company that wants to implement a market orientation would need to:

a) establish and maintain mutually satisfying relationships with customers.
b) determine how to deliver superior customer value.
c) do research on its customers, competitors, and markets.
d) implement actions that provide value to customers.
e) all over the above - -E

-_____ is defined as the relationship between benefits and the sacrifice necessary
to obtain those benefits. - -customer value

-_____ is a strategy that focuses on keeping and improving relationships with
current customers. - -relationship marketing

-A business is concerned with many day-to-day activities. Some of the most
important of these activities are the planning and development of a product, its
ability to communicate value, its pricing policy, and the distribution strategy.
These activities are all a part of: - -marketing

-Earl is starting a new bank. Before the opening day, Earl had a meeting with all
employees. He discussed their mission, defined objectives for the bank for the
coming years, and shared who their target market is. He talked about their product
offerings and where their future branches would be located. Earl is sharing the
bank's: - -marketing plan

-A firm that wants to develop a deeper understanding of its customers may
optimize profitability, revenue, and customer satisfaction by focusing on highly
defined and precise customer groups. This is _____: - -customer relationship
management

-A _____ is a study conducted by an organization to identify its internal strengths
and weaknesses and also examine external opportunities and threats. - -situation
analysis

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