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Homework answers / question archive / Mount Sinai High School MKT 310 Marketing-Chapter 1 Review 1)To capture value from consumers, marketers must            

Mount Sinai High School MKT 310 Marketing-Chapter 1 Review 1)To capture value from consumers, marketers must            

Marketing

Mount Sinai High School

MKT 310

Marketing-Chapter 1 Review

1)To capture value from consumers, marketers must             . A.advertise extensively

    1. focus on selling the product
    2. tell customers what they need
    3. create value for consumers
    4. create award-winning products
  1. After understanding the marketplace and customer needs, what is the next step in the marketing process?

A.Designing a marketing strategy B.Capturing value from customers C.Creating profits

D.Delighting customers

E.Building profitable customer relationships

  1. In the final step of the five-step marketing model, companies                . A.capture customer value
  1. work to understand consumers
  2. create customer value
  3. build strong customer relationships
  4. reap the rewards of creating customer value
  1. What is marketing?

A.Marketing is only selling and advertising. B.Marketing is a process of creating customer value. C.The aim of marketing is to make selling necessary. D.Marketing deals primarily with TV commercials.

E.Marketing deals with telling and selling.

  1. The key element of successful marketing today is to      . A.advertise
  1. offer low prices
  2. create value
  3. develop innovative products
  4. sell on the Internet

 

  1. Mary is hungry and chooses to go to McDonalds for a salad. Mary's hunger is a and her choice of a salad is a                .
    1. want; need
    2. need; want
    3. need; demand
    4. want; demand
    5. demand; want
  2. Which of the following statements about market offerings is correct? A.Market offerings are limited to services.

B.Market offerings are a combination of products, services, information, or experiences.

C.Experiences are not a market offering. D.Market offerings are limited to products.

E.Market offerings are not related to customers' needs and wants.

 

  1. Which core marketing concept is the key building block to develop and manage customer relationships?
    1. Value and satisfaction
    2. Profits
    3. Needs, wants, and demands D.Markets

E.Market offerings

  1. The actual and potential buyers in a market share which of the following characteristics? A.They have the same demographic profile.
  1. They do not engage in marketing.
  2. They rely on marketers to provide product information.
  3. They share a particular need and or want.
  4. They have little influence over marketers.
  1.           is the act of obtaining a desired object from someone by offering something in return. A.Satisfaction

B.Need C.Exchange D.Want E.Demand

 

  1. Following the marketing concept means that firms are                   . A.production-driven

B.customer-driven C.product-driven D.profit-driven E.sales-driven

  1. Companies like IBM, Walmart, and Intel now look beyond economic gain and, in their marketing strategies they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy?
    1. The product concept
    2. The production concept
    3. The selling concept
    4. The societal marketing concept
    5. The marketing concept
  2. A brand's           involves the set of benefits or values it promises to deliver to consumers. A.marketing management
  1. value proposition
  2. target marketing
  3. market segmentation
  4. customer management
  1. The            concept holds that consumers will favor products that are available and affordable.
    1. production B.marketing C.selling

D.societal marketing E.product

  1. A firm's strategy is set into action through plans and programs that consist of the marketing mix. The marketing mix is referred to as the four Ps of marketing. Which of the following are the four Ps?

 

    1. Product, price, promotion, and people
    2. Product, price, place, promotion
    3. Product, packaging, price, promotion
    4. Product, price, place, people
    5. Product, place, promotion, people

 

  1. Customer relationship building blocks consist of                         . A.social and product marketing
  1. price and promotion
  2. customer value and satisfaction
  3. the four Ps of marketing
  4. product and place
  1. Which of the following is an accurate statement about building customer relationships in the modern marketing era?
    1. At the current time, brands should wait to adopt new digital technologies and social media until the pace of change slows down.
    2. Even with the new digital technologies available to marketers, consumers still cannot create personal brand experiences.
    3. Building relationships through consumer-generated marketing is expensive and time- consuming.
    4. Digital technologies and social media have created few opportunities for marketers to engage their customers and deliver value.
    5. Consumer-generated marketing is when marketers take an active role in shaping product and brand content.
  2. The total combined lifetime value of a company's current and potential customers is called . A.customer retention
  1. share of customer
  2. customer equity
  3. customer loyalty
  4. market share
  1. FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh those benefits against the monetary costs and other costs of using the service, they are acting on                                     .
    1. Loyalty
    2. Information in FedEx ads C.Customer-perceived value D.Customer satisfaction

E.Their relationship to FedEx

  1. Although a "customer-centered" firm seeks to deliver high customer satisfaction relative to competitors, it   .
    1. attempts to gain customer satisfaction at all cost to ward off competition
    2. does not attempt to maximize customer satisfaction
    3. attempts to maximize customer satisfaction
    4. can increase satisfaction by increasing its services compared to its competitors
    5. can increase satisfaction by lowering prices compared to its competitors

 

  1. Which of the following statements regarding the changing marketing landscape is correct? A.Global competition only affects marketing in large companies.
  1. Marketers have mastered the use of social media and mobile marketing.

 

  1. Marketing plays no role in the strategies of not-for-profit organizations.
  2. Today's post-recession era consumers buy more, use fewer coupons, use their credit cards more and save less.
  3. Digital technology has changed the way we live.
  1. Social media campaigns provide exciting opportunities to         . A.use mobile devices to compare prices
  1. share profits with customers
  2. increase the number of Facebook "Likes"
  3. get customers to shop together
  4. extend customer engagement and get people talking about a brand
  1. Which of the following statements regarding the current economic environment is correct? A.To reach today's frugal consumers, marketers should cut prices across the boar B.Consumers have resigned themselves to lives of deprivation.

C.Since consumer incomes and spending are again on the rise, companies can now de- emphasize valu

D.Consumers are using their credit cards more frequently and putting less money in the bank.

E.Consumer spending values now emphasize simpler living and more value for the dollar.

  1.                       marketing is perhaps the fastest-growing digital marketing platform. A.Sustainable

B.Online social C.Real-time D.Social media E.Mobile

  1. Which is the fastest-growing digital marketing platform? A.Social media marketing

B.Sustainable marketing C.Social marketing

D.Mobile marketing

E.Not-for-profit marketing

 

 

 

 

 

 

 

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