University of Houston MARK 4365 Quiz 1 1)In the class we discussed that marketers are interested in estimating the “wants for specific products backed by an ability to pay” - this “wants for specific products backed by an ability to pay” is formally referred to as: Demand Needs Value Offering   2

University of Houston

MARK 4365

Quiz 1

1)In the class we discussed that marketers are interested in estimating the “wants for specific products backed by an ability to pay” - this “wants for specific products backed by an ability to pay” is formally referred to as:

Demand

Needs

Value

Offering

2.            The collection of buyers who share some similar characteristic feature (e.g. geography, demographic) is referred to as    in Marketing:

Position

Market

Group

Company

3.            The product concept proposes that consumers favor products offering the most quality, performance, or innovative features.

True

False

4.            Which of the following term refers to the step in Strategic Marketing where marketer identifies the group of customers who can be reached out with appropriate product offerings and advertisements?

Segmentation

Positioning

Targeting

Branding

5.            Going digital has reduced the overall costs associated with each the following EXCEPT

Search

Replication Tracking

Verification

 Social

6.            The consumers follow a sequence in their Decision Making regarding the purchase of a product. Which of the following represents this sequence in the proper order?

Consideration, Awareness, Purchase, Loyalty

 Awareness, Consideration, Purchase, Loyalty

Purchase, Consideration, Awareness, Loyalty

None of the above