Marketing 5 True false

Question 1

The final step in the marketing process is ________.

Accepted Answer

capturingvalue from customers

Question 2

The difference between human needs and wants is that needs are not influenced by marketers.

Accepted Answer

True

Question 3

Customer-driven marketing usually works well when ________ and when customers ________.

Accepted Answer

aclear need exists; know what they want

Question 4

Only sellers of products, services, and ideas practice marketing; buyers do not.

Accepted Answer

False

Question 5

Which of the following is the result of a marketing strategy that attempts to serve all potential customers?

Accepted Answer

Not all customers will be satisfied.

Question 6

The following are accurate descriptions of modern marketing

Accepted Answer

Marketingis the creation of value for customers, Marketingis used by for-profit and not-for-profit organizations., Marketingis managing profitable customer relationships

Question 7

Which of the following reflects the marketing concept philosophy?

Accepted Answer

"We don't have a marketing department; we have acustomer department."

Question 8

Human needs are shaped by culture and individual personality

Accepted Answer

False

Question 9

customers making repeat purchases and telling others about their positive experiences with a product or service are

Accepted Answer

truefriends

Question 10

Value has different meanings to and is perceived differently by different consumers.

Accepted Answer

True

Question 11

Which customer question is answered by a company's value proposition?

Accepted Answer

"Why should I buy your brand rather than acompetitor's?"

Question 12

A company needs to ________ before designing a customer-driven marketing strategy

Accepted Answer

understandthe marketplace and customer needs and wants

Question 13

customers buy from stores and firms that offer which of the following?

Accepted Answer

thehighest customer-perceived value

Question 14

Customer-perceived value = customer's evaluation of the perceived difference between benefits costs of a marketing offer

Accepted Answer

True

Question 15

Which of the following reflects the marketing concept?

Accepted Answer

"This is what I want; won't you please make it?"

Question 16

Marketing is = managing profitable customer relationships

Accepted Answer

True

Question 17

When backed by buying power, needs become wants.

Accepted Answer

True

Question 18

The marketing mix includes production, price, promotion, and packaging; they are known as the four Ps of marketing.

Accepted Answer

False

Question 19

Market offerings are limited to physical products.

Accepted Answer

False

Question 20

The key to delivering customer satisfaction is to match ________ with ________.

Accepted Answer

customer expectations; product performance

Question 21

When an airline goes after a "share of travel" from its customers, it is attempting to increase ________.

Accepted Answer

shareof customer

Question 22

I have watched Video Lecture 1

Accepted Answer

True

Question 23

Co. X understands and anticipates customer needs even better than customers themselves do. It practices____ marketing.

Accepted Answer

customer-driving

Question 24

____ ______is the total combined customer lifetime values of all a company's current and potential customers?

Accepted Answer

customerequity

Question 25

Lexus estimates that a single satisfied and loyal customer is worth $600,000 in lifetime sales.This is

Accepted Answer

customer lifetime value(CLV)

Question 26

According to the production concept, consumers will favor products that are ________ and ________.

Accepted Answer

available;affordable

Question 27

When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia.

Accepted Answer

True

Marketing 5 True false

Questions 27

Marketing 5 True false

Questions 27