MKT 3250 Midterm Exam | Questions and Answers (Complete Solutions)
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Course
MKT 3250
Institution
MKT 3250
MKT 3250 Midterm Exam | Questions and Answers (Complete Solutions) What is marketing? A. The aim of marketing is to make selling necessary. B. Marketing is a process of creating customer value. C. Marketing deals with telling and selling. D. Marketing is only selling and advertising. E. Marketing...
What is marketing?
A.
The aim of marketing is to make selling necessary.
B.
Marketing is a process of creating customer value.
C.
Marketing deals with telling and selling.
D.
Marketing is only selling and advertising.
E.
Marketing deals primarily with TV commercials.
In the final step of the five-step marketing model, companies __________.
A.
capture customer value
B.
build strong customer relationships
C.
create customer value
D.
reap the rewards of creating customer value
E.
work to understand consumers
The basic concept underlying marketing is that of __________.
A.
customer wants
B.
customer needs
C.
customer demand
D.
customer relationship
E.
customer experience
__________ is the act of obtaining a desired object from someone by offering
something in return.
A.
Exchange
B.
Want
,C.
Satisfaction
D.
Demand
E.
Need
A brand's __________ involves the set of benefits or values it promises to deliver to
consumers.
A.
value proposition
B.
target marketing
C.
customer management
D.
market segmentation
E.
marketing management
The __________ concept holds that consumers will favor products that are available
and affordable.
A.
societal marketing
B.
selling
C.
product
D.
production
E.
marketing
Customer relationship building blocks consist of __________.
A.
price and promotion
B.
the four Ps of marketing
C.
customer value and satisfaction
D.
product and place
E.
social and product marketing
,Although a "customer-centered" firm seeks to deliver high customer satisfaction relative
to competitors, it __________.
A.
does not attempt to maximize customer satisfaction
B.
attempts to maximize customer satisfaction
C.
attempts to gain customer satisfaction at all cost to ward off competition
D.
can increase satisfaction by increasing its services compared to its competitors
E.
can increase satisfaction by lowering prices compared to its competitors
Which is the fastest-growing digital marketing platform?
A.
Not-for-profit marketing
B.
Social media marketing
C.
Social marketing
D.
Sustainable marketing
E.
Mobile marketing
__________ marketing is perhaps the fastest-growing digital marketing platform.
A.
Mobile
B.
Online social
C.
Social media
D.
Real-time
E.
Sustainable
The first step in strategic planning involves __________.
A.
setting objectives and goals
B.
defining the company's mission
C.
designing a business portfolio
D.
developing functional plans
, E.
developing a marketing plan
A company's mission statement should be focused on __________.
A.
customers
B.
objectives and goals
C.
sales
D.
profit
E.
investment
The major activity in strategic planning is the analyses of a business __________.
A.
plan
B.
unit
C.
goal or objective
D.
experience
E.
portfolio
Within the growth-share matrix, "cash cows" are __________.
A.
high-growth, high-share businesses or products
B.
high-share businesses in slow-growth markets
C.
low-growth, low-share business units in high-growth markets
D.
low-growth, low-share businesses and products in high-growth markets
E.
low-growth, high-share businesses or products
Each department can be thought of as a link in the company's __________.
A.
marketing management
B.
value chain
C.
market segmentation
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