Page Ref: 27
AACSB:
Skill: Concept
Objective: 1-1
Difficulty: Easy
5.
According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy.
A)
build profitable relationships with customers
B)
construct an integrated marketing program
C)
use customer relationship management to create full partnerships with key customers
D)
determine how to deliver superior value to customers
E)
understand the marketplace and customer needs and wants
Page Ref: 27
AACSB:
Skill: Concept
Objective: 1-1
Difficulty: Easy
6.
________ are human needs that are shaped by culture and individual personality.
A)
Demands
B)
Necessities
C)
Values
D)
Wants
E)
Exchanges
Page Ref: 28
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
7.
When backed by buying power, wants become ________.
A)
social needs
B)
physical needs
C)
exchanges
D)
self-esteem needs
E)
demands
Page Ref: 28
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
8.
A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.
A)
brand positioning
B)
value proposition
C)
market segment
D)
market offering
E)
market mix
Page Ref: 28
AACSB:
Skill: Concept
Objective: 1-2