Question 1

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.
product
production
selling
equity
marketing

Accepted Answer

The answer of The ________ concept holds that achieving organizational...

Question 2

"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept.
production
marketing
selling
product
target marketing

Accepted Answer

The answer of "Build a better mousetrap and the world...

Question 3

The product concept says that a company should ________.
improve marketing of its best products
market only those products with high customer appeal
focus on the target market and make products that meet those customers' demands
devote its energy to making continuous product improvements
make promoting products the top priority

Accepted Answer

The answer of The product concept says that a company...

Question 4

Which of the following reflects the marketing concept philosophy?
"We don't have a marketing department, we have a customer department."
"We're in the business of making and selling superior products."
"We build them so you can buy them."
"When it's profits versus customers' needs, profits will always win out."
"You won't find a better deal anywhere."

Accepted Answer

The answer of Which of the following reflects the marketing...

Question 5

________ is the set of benefits a company promises to deliver to its consumers to satisfy their needs.
A money-back guarantee
Low pricing
Good customer service
A value proposition
An attribute

Accepted Answer

The answer of ________ is the set of benefits a...

Question 6

When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.
customer-driven
customer-driving
societal
production
product

Accepted Answer

The answer of When customers don't know what they want...

Question 7

Customer-driven marketing is most likely to work well when ________ and when customers ________.
a clear need exists; are difficult to identify
customers do not know what they want; have limited budgets
there are few competitors; are concerned about their long-run welfare
a clear need exists; know what they want
a want exists; cannot afford it

Accepted Answer

The answer of Customer-driven marketing is most likely to work...

Question 8

An effective value proposition answers the question _______________.
"Why should I buy your brand rather than a competitor's?"
"How does your brand benefit me and society?"
"What are the costs and benefits of your brand?"
"What kind of experience will I have with products and services associated with this brand?"
"What are the benefits of being a loyal consumer of your brand?"

Accepted Answer

The answer of An effective value proposition answers the question...

Question 9

Which of the following consumer products would likely be marketed using the selling concept?
laundry detergent
funeral services
chocolate bars
hair stylist services
computer tablets

Accepted Answer

The answer of Which of the following consumer products would...

Question 10

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
promotion mix
product mix
marketing mix
TQM
marketing effort

Accepted Answer

The answer of The set of marketing tools a firm...

Question 11

If this is the only marketing management concept adopted, manufacturers can develop to marketing myopia?
customer-driven marketing
customer-driving marketing
societal marketing
selling
product

Accepted Answer

The answer of If this is the only marketing management...

Question 12

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.
short-run costs and profits
short-run ethics
long-run welfare
immediate health
value propositions

Accepted Answer

The answer of The societal marketing concept seeks to establish...

Question 13

The ________ concept calls for aggressive selling and promotion effort.
marketing
production
product
selling
societal marketing

Accepted Answer

The answer of The ________ concept calls for aggressive selling...

Question 14

The authors of the text would argue that __________ is the most fundamental concept of modern marketing.
customer relationship management
social media
broadcast advertising
properly trained sales people
low prices

Accepted Answer

The answer of The authors of the text would argue...

Question 15

According to the authors of your text, the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy.
product
production
marketing
retailing
societal marketing

Accepted Answer

The answer of According to the authors of your text,...

Question 16

Which of the following marketing management concepts is most closely aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features?
product
production
customer
marketing
promotion

Accepted Answer

The answer of Which of the following marketing management concepts...

Question 17

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________.
human welfare
want satisfaction
company profits
short-run wants
long-term needs

Accepted Answer

The answer of The three areas of consideration that should...

Question 18

Building and maintaining profitable value-laden relationships with customers of a company is called ________.
customer lifetime value
customer perceived value
customer relationship management
database marketing
societal marketing

Accepted Answer

The answer of Building and maintaining profitable value-laden relationships with...

Question 19

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
production concept
product concept
selling concept
marketing concept
societal marketing concept

Accepted Answer

The answer of Which of the following marketing management orientations...

Question 20

The ________ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being.
marketing
selling
product
societal marketing
equity

Accepted Answer

The answer of The ________ concept holds that firms must...

Quiz 1: Marketing: Creating and Capturing Customer Value

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. product production selling equity marketing

"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept. production marketing selling product target marketing

________ is the set of benefits a company promises to deliver to its consumers to satisfy their needs. A money-back guarantee Low pricing Good customer service A value proposition An attribute

When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing. customer-driven customer-driving societal production product

Which of the following consumer products would likely be marketed using the selling concept? laundry detergent funeral services chocolate bars hair stylist services computer tablets

The set of marketing tools a firm uses to implement its marketing strategy is called the ________. promotion mix product mix marketing mix TQM marketing effort

If this is the only marketing management concept adopted, manufacturers can develop to marketing myopia? customer-driven marketing customer-driving marketing societal marketing selling product

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________. short-run costs and profits short-run ethics long-run welfare immediate health value propositions

The ________ concept calls for aggressive selling and promotion effort. marketing production product selling societal marketing

The authors of the text would argue that __________ is the most fundamental concept of modern marketing. customer relationship management social media broadcast advertising properly trained sales people low prices

According to the authors of your text, the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy. product production marketing retailing societal marketing

Which of the following marketing management concepts is most closely aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features? product production customer marketing promotion

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________. human welfare want satisfaction company profits short-run wants long-term needs

Building and maintaining profitable value-laden relationships with customers of a company is called ________. customer lifetime value customer perceived value customer relationship management database marketing societal marketing

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain? production concept product concept selling concept marketing concept societal marketing concept

The ________ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being. marketing selling product societal marketing equity