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Chapter 1 Marketing_PofM Flashcards | StudBud
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Chapter 1 Marketing_PofM
Chapter 1 Marketing_PofM
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A basic quiz for chapter 1 Marketing: Creating Customer Value and Engagement
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
sellers being preoccupied with their own products and losing sight of consumer needs is called:
value proposition
vendor lock-in
social loafing
marketing myopia
2
________ are human needs that are shaped by culture and individual personality.
Wants
Necessities
Demands
Exchanges
3
Which of the following focuses primarily on improving efficiencies along the supply chain?
production concept
marketing concept
selling concept
product concept
4
When customers don't know what they want the most effective marketing strategy is ___ marketing
societal
ambush
affinity
customer-driving
5
The societal marketing concept seeks to establish a balance between ________.
an inside-out perspective and an outside-in perspective
customer lifetime value and customer equity
marketing mixes and market offerings
consumer short-run wants and consumer long-run welfare
6
A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of:
sustainable marketing
partner relationship management
a basic relationship
a frequency marketing program
7
when customers purchase products they act on ________ as they judge values and costs.
perceived value
objective value
customer lifetime value
society's interests
8
Which refers to a set of benefits a company promises to customers to satisfy their needs?
marketing mix
value proposition
customer lock-in
market segmentation
9
Which of the following marketing management concepts is most likely to lead to marketing myopia
marketing concept
product concept
customer-driving marketing concept
societal marketing concept
10
When backed by buying power, wants become ________.
social needs
physical needs
demands
self-esteem needs
