Marketing Essay

7495 Words Nov 11th, 2014 30 Pages
Chapter 1 Marketing Creating and Capturing Customer Value 1) According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy Answer D Difficulty Moderate Chapter LO 1 Course LO Discuss the fundamental concepts of marketing 2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges Answer A Difficulty Easy Chapter LO 2 Course …show more content…
A) societal marketing B) marketing C) selling D) production E) product Answer E Difficulty Moderate Chapter LO 3 Course LO Discuss the fundamental concepts of marketing 15) Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept Answer D Difficulty Difficult Chapter LO 3 Course LO Discuss the fundamental concepts of marketing AACSB Analytic thinking 16) According to the product concept, a company should ________. A) make products that
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