Unit 1 - 2020/2021

Companies at all levels have one thing in common, they are heavily committed to marketing and strongly ___

Marketing myopia is paying more attention to certain products than to the ___ produced by those products

Wants become demands when ____.

Needs and wants are being satisfied through exchange. Which of the following is occurring at this point?

A smart company tries to delight customers by promising more than it can deliver and delivering more than it promises.

Customers usually buy from sellers that offer the lowest customer-perceived value.

I am concerned with the stream of purchases each customer makes over a lifetime. This is customer lifetime value.

Most firms practice the selling concept when they face ____.

Is it true that the more loyal the firm's profitable customers, the higher the firm's customer equity?

We say that the selling concept is an outside-in perspective.

Customer satisfaction depends on the product's perceived value relative to the buyer's ___.

The marketing concept views marketing not as 'hunting' but as ____.

According to the production concept, consumers will favour products that are ____ and ____.

The societal marketing concept seeks to establish a balance between consumer short-run wants and society's

The marketing mix includes production, price, promotion and packaging. This is known as the 4Ps of marketing.

The 5 concepts under which organisations conduct their business are: production, ___ selling, marketing and societal.

It is safe to say that today's most important marketing concept is customer relationship management.

Marketing seeks to create and manage profitable customer relationships by delivering ____ to customers.

Marketing is more than ___ and advertising.

What do companies call a set of benefits that they promise to consumers to satisfy their needs?