Which is not one of the 5 steps of the marketing process?

Provide Customers with goods and services they want

What is the 2nd step of the marketing process?

Design a customer value-driven marketing strategy

Price, Promotion, Product, Place

What is "buying power"?

the capacity of a customer or market to buy certain quantities of goods

What is Customer Equity?

The total combined customer lifetime values of all the comapny's customers

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The Marketing Process

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Questions 17

Answers

1
Relationships and partnerships with other "competing" organizations is not important in marketing
True
False
2
Which is not one of the 5 steps of the marketing process?
Capture value from customers to create profits and customer equity
Understand the marketplace and customer needs and wants
Build profitable relationships and create customer delight
Design a customer value-driven marketing strategy
Construct an integrated marketing program that delivers superior value
Provide Customers with goods and services they want
3
What does the O in SWOT stand for
Opposition
Originality
Opportunities
Outside influences
4
The difference between total customer value and total customer cost is customer percieved value
False
True
5
The difference between total customer value and total customer cost is customer satisfaction
False
True
6
The extent to which a product's percieved performance matches a buyers expectations is customer satisfaction
True
False
7
What is the 2nd step of the marketing process?
Construct an integrated marketing program that delivers superior value
Capture value from customers to create profits and customer equity
Understand the marketplace and customer needs and wants
Design a customer value-driven marketing strategy
Build profitable relationships and create customer delight
8
Marketing is all about making the most possible sales
False
True
9
Which of the following concepts is NOT a Marketing Management Orientation?
Production Concept
Product Concept
Persuasion Concept
Social Concept
Marketing Concept
Selling Concept
10
Which Marketing Management says that that customers will favor products that are availabe or highly affordable?
Product Concept
Selling Concept
Production Concept
Social Concept
11
The selling concept is used most commonly today
True
False
12
Select the 4 P's
Partnership
Practice
Price
Promotion
Product
Place
13
"the 4P's" is a set of tools marketing firms use to determine their marketplace
False
True
14
What is "buying power"?
obtaining a desired object from someone by offering something in return
the capacity of a customer or market to buy certain quantities of goods
The form needs take/the way in which customers prefer the needs to be met
Value offered to a market to satisfy a consumer need or want.
15
What is Customer Equity?
The difference between total customer value and total customer cost
The customer's purchasing that a company gets in its product categories
The total combined customer lifetime values of all the comapny's customers
16
What does the S in SWOT stand for?
Satisfactions
Supply
Sales
Strengths
17
What are wants backed by "buying power"?
Customer Wants
Customer Demands
Customer needs

The Marketing Process Flashcards | StudBud