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Marketing Midterm Review (1) 2222

This document contains 20 multiple choice questions about marketing concepts and terminology. The questions cover topics such as customer perceived value, the difference between needs and wants, definitions of marketing, the marketing mix, value propositions, target markets, and components of a vision statement. The majority of the questions have a single correct answer that is either true or false.

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23 views3 pages

Marketing Midterm Review (1) 2222

This document contains 20 multiple choice questions about marketing concepts and terminology. The questions cover topics such as customer perceived value, the difference between needs and wants, definitions of marketing, the marketing mix, value propositions, target markets, and components of a vision statement. The majority of the questions have a single correct answer that is either true or false.

Uploaded by

aa2223ah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Marketing Midterm:

1- Customer perceived value is defined as the customers evaluation of the difference


between all the benefits and all the cost of a marker offering relative to those of
competing offers
True
False
2- The difference between human needs and wants is that needs are not created by
marketers
True
False
3- Social marketing concept links among ____________.
Society, retailers, and wholesalers
Social, consumer, and company
Government, retailer and wholesalers
Society, consumer and government
4- Marketing is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through ________________.
Research and development
Manufacturing efficiencies
Innovation and creativity
Sales and revenue creation
Value creation and exchange
5- Customer equity is known as is the portion of the customer’s purchasing that a company
gets in its product categories.
True
False
6- Marketing is managing profitable customer relationships.
True
False
7- When marketers set low expectations for a market offering, they run the risk of
___________.
Failing to attract enough customers
Failing to understand their customers’ needs
Having to use outside- in rather than an inside-out perspective
Disappointing loyal customers.
Incorrectly identifying a target market
8- Partner relationship management can be seen as working closely with partners in other
company departments and outside the company to jointly bring value to customers.
True
False
9- ___________ are human needs that are shaped by culture and individual personality.
Exchange
Wants
Necessities
Wants
Values
10- When sellers focus on existing needs and lose sight of underlying customer wants, they
suffer from marketing myopia.
True
False
11- Which of the following refers to a set of benefits that a company promises to deliver to
customers to satisfy their needs?
A cratel
Market segmentation
Marketing mix
Value proposition
Customer lock- in
12- When backed by buying power, needs become wants.
True
false
13- A ___________ is some combination of products, services, information, or experience
provided to consumers to satisfy a need or want.
Value proposition
Market mix
Brand positioning
Market segment
Market offering
14- The societal marketing concept calls on marketers to balance consumer wants and
desires, company profits, and society’s interests.
True
False
15- The meaning of value is perceived identically by all consumers.
True
False
16- The art and science of choosing target markets and building profitable relationships with
them is called_____________.
Marketing mix
Differentiation
Marketing offering
Marketing management
Positioning
17- Which of the following refers to a set of benefits that a company promises to deliver to
customers to satisfy their needs?
Value proposition
Customer lock -in
A cartel
Marketing mix
Market segmentation
18- Comsumer research, product development, communication, distribution, pricing, and
services are all core ___________ activities.
Marketing
Production
Outsourcing
Logistics
Positioning
19- An experience such as a vacation can be defined as a marketing offering.
True
false

20- a __________ documents an organizations purpose – what it wants to accoumplish

Business portfolio
Vision statement
Product strategy
Value proposition
Mission statement

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