Ch. 1 (M) T/F & MC Part 3

Question 1

___ is some cmbnatn of prdcts, servcs or infrmatin offerd to cnsumers to satsfy a need or want

Accepted Answer

market offering

Question 2

Selecting which segments of a population of customers to serve is called ________

Accepted Answer

target marketing

Question 3

Five-step process, a company needs to ________ before desgning a custmer-drivn markting stratgy

Accepted Answer

D) understand the marketplace and customer needs and wants

Question 4

"Build a better mousetrap & the wrld will beat a path to your door" reflects the ______ concept

Accepted Answer

product

Question 5

The product concept says that a company should do which of the following?

Accepted Answer

focus on making continuous product improvements

Question 6

The selling concept is particularly appropriate with which of the following types of products?

Accepted Answer

unsought

Question 7

_____ is the act of obtaining a desired object from someone by offering something in return

Accepted Answer

Exchange

Question 8

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

Accepted Answer

available; affordable

Question 9

Cnsmr resarch, prduct develpmnt, communcatin, distributn, pricng, & servce are all ___ actvtes

Accepted Answer

B) marketing

Question 10

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

Accepted Answer

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

Question 11

Is the set of benefits a company promises to deliver to customers to satisfy their needs?

Accepted Answer

a value proposition

Question 12

When marketers set low expectations for a market offering, the biggest risk they run is ______

Accepted Answer

failing to attract enough customers

Question 13

A firm that uses the selling concept takes a(n) ________ approach.

Accepted Answer

inside-out

Question 14

When backed by buying power, wants become ________.

Accepted Answer

demands

Question 15

Choosing target markets and building profitable relationships with them is called ________.

Accepted Answer

marketing management

Question 16

The______ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy

Accepted Answer

marketing

Question 17

According to management guru Peter Drucker, "The aim of marketing is to ________."

Accepted Answer

C) make selling unnecessary

Question 18

________ are human needs as shaped by individual personality and culture.

Accepted Answer

B) Wants

Question 19

Which of the following marketing management concepts is most likely to lead to marketing myopia

Accepted Answer

product

Question 20

_____ is the set of actual and potential buyers of a product.

Accepted Answer

market

Questions 20